Peak Oil Now? New Data Leads to Speculation


	Peak Oil Now? New Data Leads to Speculation

JICWyllie

5-22-2007 7:20 AM

593 views

tags:

energy, i-peak oil, i-risks

JICWyllie says:

The significance here is that these projections are coming from the US government's Energy Information Administration (EIA) which has a reputation for being over optimistic in their estimations of future oil supply.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ca03dcbb-1edf-44cf-9ea5-498e6eeee53c/B3E6558C-A00A-4FE0-AD2A-540B033FB66D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://valuesystem.livejournal.com/14190.html" href="http://valuesystem.livejournal.com/14190.html" style="font-size: 11px;">valuesystem.livejournal.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valuesystem.livejournal.com/14190.html"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/valuesystem.livejournal.com/img/C2C04AFB-EB77-4343-8EDE-F3B10F265628" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valuesystem.livejournal.com/14190.html"><DIV>The data comes from the United States Department of Energy's Energy Information Agency's (EIA) report on Global Oil Production, published earlier this week.  The black diamonds are the global oil production numbers from excel sheet t14.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valuesystem.livejournal.com/14190.html"><DIV>It is fairly apparent that oil production has reached a plateau.  Growth in the oil supply seems to have stopped.</DIV><BR /><DIV>By extending the best fit curve out two years, we would find that by December of 2008, world oil production would be only 82 million barrels of oil per day (mbpd).  This suggests the world may have reached peak oil, the history making all-time maximum of global oil production.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valuesystem.livejournal.com/14190.html"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/valuesystem.livejournal.com/img/5EC7E6B4-9F28-4550-B81A-300ACC117A0E" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://valuesystem.livejournal.com/14190.html"><DIV>Global oil production is about 8 mbpd less than projections from only a few years ago.  This huge shortfall represents major changes in the energy supply.  It is a new paradigm, one of heralding the end of growth.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B3E6558C-A00A-4FE0-AD2A-540B033FB66D/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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