Tag Archives: Saudi Arabia

Our Investment Sinkhole Problem

We are used to expecting that more investment will yield more output, but in the real world, things don’t always work out that way. In Figure 1, we see that for several groupings, the increase (or decrease) in oil consumption … Continue reading

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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

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 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

Posted in Financial Implications, Oil and Its Future | Tagged , | 30 Comments

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