01 Oct '11, 7pm

Peak oil and energy - Oct 1 #environment

"Imagine if you will, that in 2005 I predicted that average global crude oil production for 2006 to 2010 would be less than the 2005 rate (following a very rapid increase in global crude oil production from 2002 to 2005) and that Global Net Exports would show a measurable decline, with China & India taking an increasing share of what is net exported, and that because of all of the following annual oil prices would all exceed the $57 level that we saw in 2005, with four of the five years showing year over year increases in oil prices. And that the US in 2011 would remain dependent on oil imports for two out of every three barrels of oil that we process in US refineries. And I then I told you that the dominant theme in the media in 2011, given all of the foregoing, would be forecasts for steadily rising global oil production, with the only question being when, not if, that t...

Full article: http://www.energybulletin.net/stories/2011-10-01/peak-oil...

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