Right now I am going through information reported by the BP Statistical Review of World Energy over the years to estimate the relationship between demand and supply and corresponding price shifts. I am putting together reasonable estimates of demand and supply through 2020 on a country by country basis and would welcome your input if you have worked on similar endeavors. My priority is to produce a document that is completely transparent in its assumptions and that is malleable for folks to play with and produce predictions of future prices, with the end result being a more informed public and elected leadership that can better plan our energy future. Congressional discussions about the potential of drilling in ANWR, off our coasts, and on currently leased land too often fantasizes about huge production increases domestically when the truth is depleting fields have been the dominant force in US production for almost forty years and there is little chance that will change. The report hopes to chart out the potential savings of oil demand reduction through efficiency and renewables substitution by generating different prices based on different demand and supply scenarios. The past two weeks show that demand reduction can have an effect on oil’s price, and here’s hoping we can accelerate our efforts so that they work during periods of economic growth and not just in recessions. Please be in touch if you have suggestions for the report during its production over the next few weeks.
Onwards to sustainability!
Dennis