Sunday, December 18, 2005

WorldOil.com - Shaping the peak of world oil production

The bell curve has a sharp crest, and you can't see it coming.
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SUMMARY

To understand the possible character of the peaking of world conventional oil production, oil peaking in a number of relatively unencumbered regions and countries was considered. All had significant production, and all were certainly or almost certainly past their peak. The data shows that the onset of peaking can occur quite suddenly, peaks can be very sharp, and post-peak production declines can be comparatively steep (3 - 13%). Thus, if historical patterns are appropriate indicators, the task of planning for and managing world conventional oil peaking will indeed be very challenging.
Hat tip: Kurt Cobb - Resource Insights:
Comedian Richard Pryor, who passed away last week, was famous for saying, "Who you gonna believe? Me or your lying eyes?" In a way, those who believe that a peak in world oil production is not far away (or possibly already here) are asking the American public the same question.

A somnolent and self-satisfied American citizenry awakens each day to a world with no gas lines, warm homes in winter (or cool homes in summer), an economy which appears to be gaining speed and a gasoline price which has dropped below where it had been before it spiked to record levels.

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Is our hypothetical speaker not asking the audience to deny the evidence of their senses? Is he not asking them to believe him rather than their lying eyes?

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Hear! Hear!

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