Posted by: drgeophysics | October 23, 2009

Return of $100 barrel oil

I am convinced that depletion of the super-giant oil fields, that the global economy depends on, is occurring now.  Although production and enhanced oil recovery data is closely held, looking at the production data that is available, from sources such as this, there is little doubt.  The slope of decline can be steep from an exhausted field with respect to production.

Here is a monthly hydrocarbon global production analysis.

Given that situation, consider this interview which predicts the consequences of expensive oil on the global economy.  There are numerous blogs looking at elements of the material presented, but this is worth considering.

Here is the link.

The waste of energy and inefficiency in our transportation, heating and industrial activity amazes me.  Increased efficiency are the low-hanging fruit with respect to expensive hydrocarbons.

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