The difference 20 years make in crude oil prices
WorldOil.com has an interesting article about Oil production in the last 20 years, here.
But in relation with peak oil, this is the best quote of the article:
"Also, 2005 will go down in history books as perhaps the poorest year for exploration success for both oil and gas since World War II. This dismal success was not for lack of effort. Record amounts of funds are being plowed into E&P capital spending, which is why all the world's rigs are now in use."
So if production flattens and world demand increases.. Oh well you know what will happen :)
Posted in: _PeakOil , _Economy
But in relation with peak oil, this is the best quote of the article:
"Also, 2005 will go down in history books as perhaps the poorest year for exploration success for both oil and gas since World War II. This dismal success was not for lack of effort. Record amounts of funds are being plowed into E&P capital spending, which is why all the world's rigs are now in use."
So if production flattens and world demand increases.. Oh well you know what will happen :)
Posted in: _PeakOil , _Economy
posted by Bambitroll at
09:55
1 Comments:
There was an interview with the chief of one of the largest oil companies in the world a few weeks ago on BBC World Service Radio, and according to him, there was nothing to worry about, so I'm not worried. :-)
By
A, at 4/4/06 14:11
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