Re: IEA : 2016 new annual oil supply record
Posted: Mon 20 Feb 2017, 16:12:33
So US conventional oil peaked in the 70's and global conventional oil peaked in 2005 and has been on a plateau since then. The move to produce unconventional was based on the premiss that rising oil prices according to the supply and demand function would make unconventional economically viable. Peak oil theories also predicted rising oil prices. The oil price collapsed first in 2008 and then again in 2014.
A theory can only be proven false ? Obviously the world doesn't always allow it self to be dictated by our theories. Back to the drawing board ? Perhaps there is something wrong with the supply and demand theory and the peak oil theory ?
A theory can only be proven false ? Obviously the world doesn't always allow it self to be dictated by our theories. Back to the drawing board ? Perhaps there is something wrong with the supply and demand theory and the peak oil theory ?