10 Jun '12, 12pm

World oil production 'to decline from 2017'. How will we ensure enough #food? #foodsecurity

However, deep water and non-conventional oil production are growing strongly, turning a slight decline into a plateau for total crude oil (non-conventional oil is heavy and viscose or indeed tar-like oil). Given the growth in deep and non-conventional balancing the shallow decline in conventional production, it is predicted that we have entered about 2006 onto a slightly upward slanting plateau in potential oil production that will last only to about 2016—eight years from now (2008). For the next eight years it is likely that world crude oil production will plateau in the face of continuing economic growth. After that, the modelling is forecasting what can be termed ‘the 2017 drop-off’. The outlook under a base case scenario is for a long decline in oil production to begin in 2017, which will stretch to the end of the century and beyond. Projected increases in deep water a...

Full article: http://www.energybulletin.net/stories/2012-01-20/transpor...

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