oil supply projections

Friday Energy Facts: OPEC Net Oil Export Revenues Expected to Fall in 2014 and 2015

December 19, 2014 by U.S. EIA: Today in Energy

OPEC Oil Export Revenue Drop

Based on market assessments in the Short-Term Energy Outlook, EIA estimates that members of the Organization of the Petroleum Exporting Countries, excluding Iran, will earn about $700 billion from net oil exports in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010.[read more]

What Economists Missed: Why World Coal Consumption Keeps Rising

December 20, 2012 by Gail Tverberg

In a situation of constrained oil supply, if a country reduces its oil consumption, it doesn’t mean that more oil will be left in the ground. Instead, the oil saved goes back on the world oil market (perhaps at a slightly lower price) and is bought by someone else who can make better use of it. So why do we insist that we can replace coal so easily?[read more]

New IMF Working Paper Models Impact of Oil Limits on the Economy

May 7, 2012 by Gail Tverberg

The International Monetary Fund (IMF) recently issued a new working paper called “The Future of Oil: Geology versus Technology” (free PDF), which should be of interest to people who are following “peak oil” issues. It considers two different approaches for modeling future oil supply: an economic/technical approach and a geological approach.[read more]

Remaining oil reserves

July 6, 2009 by Lou Grinzo

I find it astonishing how few people realize what predictions like this one (Gulf Times: Oil reserves ‘sufficient for 42 years’) really mean: The proven global oil reserves of 1,258bn barrels, excluding Canadian oil sands, are enough for 42 years at the 2008 production rates, a BP review said. On the same basis, global gas reserves are...[read more]

IEA: Bush’s puppet?

July 2, 2008 by Lou Grinzo

My letter to the IEA Press Office, sent just moments ago: I would like to know what the IEA’s official response is to a story that’s just starting to make its way around the Internet regarding the Bush Administration stopping the IEA from updating its projections until after this November’s US presidential election. I ran into this...[read more]