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The Times: Oil Reserves Irrelevant - No Production Capacity Left
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04-07-2006, 10:36 PM
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The Times: Oil Reserves Irrelevant - No Production Capacity Left
http://business.timesonline.co.uk/ar...124287,00.html
Quote:
World 'cannot meet oil demand'
By Carl Mortished, International Business Editor
THE world lacks the means to produce enough oil to meet rising projections of demand for fuel over the next decade, according to Christophe de Margerie, head of exploration for Total and heir presumptive to the leadership of the French energy multinational.
The world is mistakenly focusing on oil reserves when the problem is capacity to produce oil, M de Margerie said in an interview with The Times. Forecasters, such as the International Energy Agency (IEA), have failed to consider the speed at which new resources can be brought into production, he believes.
Numbers like 120 million barrels per day will never be reached, never, he said.
.... (continued in full article)
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04-08-2006, 10:33 AM
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just the messenger
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Join Date: Feb 2006
Vehicles: 2000 Honda Enzyte 5-speed MIMA, CalPod, SGII
Location: Greater Dallas
Posts: 22,878
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Daily World Consumption at over 81 Mil Barrels
World consumption was at nearly 81 million barrels a day in 2005 per http://www.nationmaster.com/graph-T/ene_oil_con
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All is vanity
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04-08-2006, 12:10 PM
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Retrograde Orbiter
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Join Date: Mar 2006
Vehicles: 2009 Volvo V70
Location: NY
Posts: 4,614
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Re: The Times: Oil Reserves Irrelevant - No Production Capacity Left
Peak...peak what? Oh, the thing where the supply and demand lines cross. Get ready!
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Tim
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04-08-2006, 09:32 PM
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PZEV, there's nothing like it :)
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Join Date: Feb 2006
Vehicles: Accord, Ranger, and anything else ;)
Location: Northern Illinois
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Re: The Times: Oil Reserves Irrelevant - No Production Capacity Left
Hi All:
___What do you mean Peak Oil? President Bush hasnt seen the need to protect us from Peak Oil so it must not be a problem! Yah right 
___I really should keep my political views to myself 
___Good Luck
___Wayne
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04-08-2006, 09:39 PM
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just the messenger
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Join Date: Feb 2006
Vehicles: 2000 Honda Enzyte 5-speed MIMA, CalPod, SGII
Location: Greater Dallas
Posts: 22,878
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Re: The Times: Oil Reserves Irrelevant - No Production Capacity Left
My fellow Americans: We are leaking oil....we are not leaking oil. 
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All is vanity
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