Category Archives: Oil and Its Future

An Economic Theory of Limited Oil Supply

We seem to hear two versions of the story of limited oil supply: 1. The economists’ view, saying that the issue is a simple problem of supply and demand. Substitution, higher prices, demand destruction, greater efficiency, and increased production of … Continue reading

Posted in Financial Implications, Oil and Its Future | Tagged , , , , | 156 Comments

Renewables Are Overrated, We Need Cheap Oil – Interview with Gail Tverberg

This article originally appeared at Oilprice.com. What does our world’s energy future look like? Does renewable energy feature as much in the energy production mix as many hope it will? Will natural gas and fracking help reduce our dependence upon … Continue reading

Posted in Energy policy, Financial Implications, Oil and Its Future | Tagged , , , , , , , , | 137 Comments

The Growing Part of the World in Charts

Some parts of the world pretty much sailed through the 2008-2009 recession, while other parts of the world had huge problems. The part that sailed through the recession is what I call the “Growing Part of the World.” I thought … Continue reading

Posted in Financial Implications, Oil and Its Future | Tagged , , , , , , , , , | 71 Comments

The Myth that the US will Soon Become an Oil Exporter

Countries trade crude oil and oil products back and forth. When all of these transactions are netted out, is the US close to becoming a “net” oil exporter? With the recent increase in oil production (perhaps even exceeding that of … Continue reading

Posted in News Related Post, Oil and Its Future | Tagged , , , , , , | 50 Comments

What the new 2011 EIA oil supply data shows

The US Energy Information Administration (EIA) recently released full-year 2011 world oil production data. In this post, I would like show some graphs of recent data, and provide some views as to where this leads with respect to future production. … Continue reading

Posted in Oil and Its Future | Tagged , , , , , , , | 78 Comments