Category Archives: Oil and Its Future

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

Posted in News Related Post, Oil and Its Future | Tagged , , | 26 Comments

Saudi Arabia – Headed for a Downfall?

Saudi Arabia recently announced that it had┬áhalted a $100 billion oil production expansion plan┬áto 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

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Kidding ourselves about future MENA oil production

Recently, the International Energy Agency’s Chief Economist Fatih Birol was quoted as saying, In the next 10 years, more than 90% of the growth in global oil production needs to come from MENA [Middle East and North African] countries. There … Continue reading

Posted in Food issues, News Related Post, Oil and Its Future | Tagged , , , , , , | 57 Comments