Category Archives: Oil and Its Future

The Myth that the US will Soon Become an Oil Exporter

Posted on April 16, 2012 by Gail Tverberg

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 →

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What the new 2011 EIA oil supply data shows

Posted on April 9, 2012 by Gail Tverberg

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

Posted on March 12, 2012 by Gail Tverberg

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

Posted on December 14, 2011 by Gail Tverberg

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?

Posted on December 5, 2011 by Gail Tverberg

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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