Skip to main content

US Army leads UK government on peak oil

The link is to a US Army report from 2005 in which on page 8 it says:

The oil market will remain fairly stable in the very near term, but with steadily increasing prices as world production approaches its peak. The doubling of oil prices
from 2003-2005 is not an anomaly, but a picture of the future. Oil production is approaching its peak; low growth in availability can be expected for the next 5 to 10
years. As worldwide petroleum production peaks, geopolitics and market economics
will cause even more significant price increases and security risks. One can only
speculate at the outcome from this scenario as world petroleum production declines.
The disruption of world oil markets may also affect world natural gas markets since
most of the natural gas reserves are collocated with the oil reserves.

Whereas the official UK government position remains no problem until 2030.

Comments

Jock Coats said…
Yet there was a story just the other day that Brazil had just discovered what it estimated could be the third largest reserves in the world off their Atlantic coast!
9:53 am
John Hemming said…
And your point is?
10:13 am
Post a Comment

Popular posts from this blog

NHS reorganisation No 3,493,233

Followers of my blog will have seen the NHS question about how many reorganisations have we had. We've yet another. The number of PCTs (Primary Care Trusts) nationally is to halve. This means merging East and North. (and then probably HoB and south). It would be nice if people would stick with one structure. There is a quotation ( Which sadly does not appear to be a true quotation ) We trained hard . . . but it seemed that every time we were beginning to form up into teams we would be reorganized. I was to learn later in life that we tend to meet any new situation by reorganizing; and a wonderful method it can be for creating the illusion of progress while producing confusion, inefficiency, and demoralization. But has to have been originated by someone. The web link shown goes through the derivation which appears to be more linked to an anonymous British Soldier WW2 than any Roman or Greek General called by a name perming 2 out of (Gaius, Galus, Petronius and Arbiter). From the...
2 comments
Read more