[Pops]

Matt at Crudeoilpeak.info has another post full of great charts fro those of you visually inclined.

Oil prices started to skyrocket when one quarter of global supplies went into irreversible decline

I'll just steal the first one to entice you to go on over and read his article - then come back and comment.

[Paulo1]

Read the article and thanks for the link, Pops.

re statement: "13/3/2014 World crude production 2013 without shale oil is back to 2005 levels"

This is the bumpy Plateau, for sure. I think it will go on for awhile yet, provided there is not some godawful but well deserved economic accounting incident. Let's say the ZIRP and assorted desperations continue masking the structural cracks and allow BAU for awhile yet, then perhaps the Plateau will bump along until tight oil starts a decline....an obvious decline. When CNBC or CNN Money finally asks aloud what happened, or what is really happening, you better have your parachute on. We won't be able to scramble back to firm ground at that point.

Darwinian said 2017. Maybe sooner than that. Obviously the Fonzi Happy Days are over, but then again they still build corvettes, don't they?

Paulo

[Graeme]

I like this chart:



Here's a related report also by BP:

British Petroleum reports strength in the global energy system

British Petroleum notified Hank Richards, one of its press pool reporters and editor of the Gulf Coast Examiner today from the 21st World Petroleum Congress meeting in Moscow its message on how the world of energy echoed broader global themes in 2013.

Some highlights included emerging differences in global economic performance, geopolitical uncertainty and ongoing debates about the proper roles of government and markets are all reflected in its report.

Highlights of British Petroleum Energy Developments

Global primary energy consumption increased by 2.3% in 2013, growing faster than in 2012 but below the 10-year average of 2.5%.

All fuels except oil, nuclear power and renewables in power generation grew at below-average rates.
Growth was below average for all regions except North America.

Oil remains the world’s leading fuel, with 32.9% of global energy consumption, but it lost market share for the 14th consecutive year and its current market share is once again the lowest in our data set, going back to 1965.

Emerging economies accounted for 80% of the global increase in energy consumption – even though growth in these countries was below average at 3.1%.

The Organization for Economic Co‑operation and Development, OECD, consumption rose by an above-average 1.2%.

Robust U.S. growth of 2.9% accounted for all of the net increase in the OECD and consumption in the E.U. and Japan fell by 0.3% and 0.6%, respectively.

examiner