Peak Oil is You

Donate Bitcoins ;-) or Paypal :-)

Page added on July 30, 2007

Bookmark and Share

A revolutionary report on the future of oil

In the debate over oil supplies, July 2007 may be seen as a turning point. The International Energy Agency, a body set up to advise OECD nations on energy supply and security, broke with its previous optimistic projections of world oil supply and threw the future of oil into doubt. The IEA

As the chart above indicates, even if growth in demand is lower that expected, growth in oil supply nevertheless fails to meet growth in projected demand by 2011. If world demand growth is higher, then the oil shortages come sooner.

The chart above also shows a number of other interesting points. While considerable new supply should come on stream in 2008 (and lead to a temporary drop in fuel prices) there is less optimism for later years. Also, the growth of biofuels, while significant, is relatively limited. (When examining the chart, remember the world is currently using about 85 million barrels of oil per day [mb/d].)

On Line Opinion

Leave a Reply

Your email address will not be published. Required fields are marked *