27 Jan '16, 9pm

#peakoil Is Non-OPEC Beginning Serious Decline?: The EIA’s Monthly Energy Review just came out. They have the ...

shortonoil on Wed, 27th Jan 2016 7:16 pm “I am of the firm opinion that the vast majority of oil production prognosticators are under estimating the effect of natural depletion of existing fields. Even countries that are increasing production, or are on a production plateau, like Saudi Arabia, Iraq, the UAE, Iran, Russia and others, all have serious depletion problems. Failing to account for this decline when you make your prediction will likely cause a serious error.” Depletion never occurs as a result of the shortage of a resource. There are shut down coal, iron, gold, magnesium, etc. mines all over the world that are depleted out, but still contain considerable quantities of raw material. A resource is depleted out when it is no longer economical to continue to produce it, and the depletion process begins when the first ton, yard or barrel is extracted, and continues un...

Full article: http://peakoil.com/production/is-non-opec-beginning-serio...

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U.S. Shale Gas Production Could Sharply Decline in 2016, World Bank Says

U.S. Shale Gas Production Could Sharply Decline...

ecowatch.com 28 Jan '16, 5pm

2016 promises some small relief, with the World Bank projecting that crude oil prices will average $37 per barrel. While t...