[CAMWEST-discuss] Saudi oil production

Danny Hannan danny_hannan at yahoo.com
Thu Mar 31 23:02:21 UTC 2011


G'day all,
This article 
http://www.bloomberg.com/news/2011-03-31/opec-oil-production-declines-as-libyan-loss-tops-saudi-gain-survey-shows.html


provides evidence for what many, including myself, suspected, that OPEC and 
Saudi Arabia are unable to increase production sufficiently to make up any short 
falls in global production.

The logical extention of this is that the forecast by the International Energy 
Agency that OPEC can increase supply by 5 million barrels a day is much more 
wishful thinking than reality.  So the IEA estimate of total global liquids fuel 
production of 110 million barrels a day in 2025 is no more than a pipe dream.  
It is quite likely that current global production of all liquid fuels is the 
maximum that we will ever see and that from 2012 we will be in a real liquid 
fuels shortage as was the case in 2008.  And after 2014 we will be in a 
situation of permanent decline of liquid fuels supply.

Dan

danny_hannan at yahoo.com 
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