Category Archives: Oil and Its Future

Why EIA, IEA, and BP Oil Forecasts are Too High

When forecasting how much oil will be available in future years, a standard approach seems to be the following: Figure out how much GDP growth the researcher hopes to have in the future. “Work backward” to see how much oil … Continue reading

Posted in Financial Implications, Oil and Its Future | Tagged debt defaults, low oil prices, low wages, oil forecasts, oil price, recession | 904 Comments

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 Hubbert, M. King Hubbert, oil prices, oil supply, peak oil | 156 Comments

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

This article originally appeared at 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 employment, interview, natural gas, nuclear energy, oil price, peak oil, recession, renewables, unemployment | 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 coal consumption, EU-27, European Union, Former Soviet Union, GDP, GDP growth, Hydroelectric, nuclear, oil consumption, recession | 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 biofuels, ethanol, natural gas liquids, natural gas plant liquids, oil exports, oil imports, oil refineries | 50 Comments