I’ve been sharing the slow reduction of US oil output as oil drilling counts fall during the last few months. Now production has finally fallen below last year’s level. While petroleum fuel inventories remain very high, lower output should tighten them in the months ahead. Even so, I expect oil output to be higher than 2008 on average due to the (more…)
Posts Tagged ‘peak oil’
Weekly US oil output falls below last year’s level
Monday, August 3rd, 2009Report Forecasts Global Oil Supply Shortfall within 5 years
Thursday, October 30th, 2008A collection of UK companies including Arup, Virgin Group and Solarcentury just released a report they hope is a wake-up call for oil importing countries like the UK and the US.
Entitled “The Oil Crunch: Securing the UK’s Energy,” the report brought together insight from a range of sources that demands serious attention about the future of world oil supply after 2010. The first major voice (called Opinion A) is that of (more…)