Thursday, February 25, 2010

Do Texas and the North Sea foretell the future of oil production?

My latest column on Scitizen entitled "Do Texas and the North Sea Foretell the Future of Oil Production?" has now been posted. Here is the teaser:

Oil supply optimists claim that new technology combined with private development of the world's remaining oil resources--most of which are now under the control of government-owned companies--would vastly increase global oil production and put off any decline for decades. Texas oilman Jeffrey Brown isn't buying it, and he cites the history of oil production in Texas and the North Sea to explain why....Read more

1 comment:

mattbg said...

I generally believe in peak oil -- especially long-term and that we should be planning now for the eventuality of expensive oil because it will take so long to prepare -- but there are also stories like these, which surprise me:

Over the next seven years Iraq intends to go from producing 2.5m barrels per day to 12m b/d, a target that exceeds Saudi Arabia’s current output by more than 30%.

source:
http://www.economist.com/world/middle-east/displaystory.cfm?story_id=15549365