A US colonel and a commodities researcher from a major bank ponder the implications of peak oil: The IEA report shows that despite oil industry investment trebling in real terms since 2000 (an increase of around 200-300%), this has translated into an oil supply increase of just 12%. That is a very striking number and one I think that should be ringing alarm bells. It indicates to me that something has fundamentally changed in the economics of the oil industry and that youre having to invest more and more for diminishing incremental production. Via The Guardian
Posted on: Tue, 21 Jan 2014 08:30:01 +0000
Trending Topics
Recently Viewed Topics
© 2015