Category Archives: Oil and Its Future

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

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World Energy Consumption Since 1820 in Charts

Figure 1 shows the huge increase in world energy consumption that has taken place in roughly the last 200 years. This rise in energy consumption is primarily from increased fossil fuel use. With energy consumption rising as rapidly as shown … Continue reading

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OPEC says, ‘Don’t Count on Us’ for More Oil Supply

The results of OPEC’s latest meeting to set oil production quotas were announced this morning. Instead of production targets for individual countries, a group production ceiling of 30 million barrels a day was set. This amount is a bit less … Continue reading

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Saudi Arabia – Headed for a Downfall?

Saudi Arabia recently announced that it had halted a $100 billion oil production expansion plan to raise capacity to 15 million barrels a day by 2020. At this point, the country claims to have capacity of 12 million barrels a day. What … Continue reading

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2012: Reaching “Limits to Growth”?

It looks to me as though 2012 is likely to be a truly awful financial year, with several crises converging: Either very high oil prices or recession, The US governmental debt limit crisis, The Euro crisis, The Chinese debt problem, … Continue reading

Posted in Financial Implications, Oil and Its Future | Tagged , , | 74 Comments