Wednesday December 20, 2006

OPEC : Peak oil is near

peakoil.com -> dailykos.com, updebate.org :

In the most recent edition of the OPEC Bulletin, recently put online on the OPEC webline and which can be read here (120 page pdf - relevant bit on p.60), OPEC - via a senior member, i.e. Dr Shokri Ghanem, Chairman of the People's Committee, the National Oil Corporation (NOC) of Libya - addresses the issue of peak oil head on:

... while some of the more pessimistic oil specialists are declaring that peak oil has already been passed, or at best is here now, others believe it is not going to arrive before 2010. Some optimists give the world a little more breathing space — that is to say up to 2020, and perhaps even up to 2030. However, all in all, most would appear to agree that peak oil output is not very far away for all of us. It could take place sometime within the next decade or so, which in fact means that there is not much time left for a world economy to be driven largely by oil.

- Coming from OPEC, this is huge. For years they have essentially been saying, "trust us". Now they say "peak oil output is not very far away for all of us".

See also :

1. OPEC: High and volatile prices may be new norm
2. OPEC calls for green solutions to reduce emissions from oil
3. Arabs urged to develop nuclear energy

(2006-12-20 17:08:56 SGT) [Energy] Permalink

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