Tuesday, December 16, 2008

World Energy Outlook

The IEA just released it's World Energy Outlook for 2008. Some are hailing this as the first time the IEA are coming clean about the future of world energy supply - they are admitting that non-OPEC conventional crude will peak in a few years and OPEC will peak in the 2020-2030 timeframe.

While Monboit does have a point, it looks to me that the IEA are doing their very best to hide their head in the sand. The numbers they quote seem rather incredible - specially if they are depending on OPEC to provide the growth in daily production. Of course if Saudi Arabia have been cooking the books, well, we'll all screwed.

In the report they even say that we need to find 64Mbarrels/day of extra output to offset the devcline in exsiting fields. Where the hell are we going to get 64mbarrels/day from? Seems crazy.

1 comment:

Sengor said...

From whatever ends up drying out last (Alaska, Siberia)...