When one thinks of the Middle East nowadays, oil comes to mind. But with solar photovoltaic booming right now all around the region and beyond, this might not be the case in twenty or thirty years.
This was my reaction when I saw oil prices drop recently to levels below $90. Not long ago they were indeed more around $110 than anything else. Lucky for us Thomas L Friedman from the New York Times brings some answers…
According to Environment America, a federation of US organizations, the country could reduce its oil dependence by 79 billion gallons per year—more than all of their imports from OPEC nations. For those who are not familiar with gallons and other non-metric – I almost wrote exotic – measures, this represents 299 047 530 936 liters of oil, or… Continue reading How the USA could get rid of OPEC oil
According to the Telegraph : ” The world’s oil reserves have been exaggerated by up to a third, according to Sir David King, the Government’s former chief scientist, who has warned of shortages and price spikes within years.” ” The scientist and researchers from Oxford University argue that official figures are inflated because member countries of… Continue reading Oil reserves are exaggerated by one third
According to an article from The Economist, Iraq has plans to quadruple its oil production by the next seven years. This would increase the production from the current 2.5 million barrels per day to 12 million barrels. This would bring Iraq as the world’s first oil producer, putting Saudi Arabia in the second place. The… Continue reading Can Iraq quadruple its oil production ?
To this article of the Oil Drum world oil production peaked in 2008. Even if there is no 100 percent certainty, such a fact could represent another sign of the end of the world as we see it. Indeed, after the increasing global pressure on water resources, massive pollution and climate change, peak oil is… Continue reading Did oil production peaked in 2008 ?
I was reporting last week that non-OPEC oil production peaked in 2004 and Russia – the world’s second largest exporter – peaked in 2008. The situation was already quite serious. Yesterday the Oil Drum published an article stating that the world’s first oil producer saw it’s production peak in 2005 with 9.6 million barrels/day. Last… Continue reading Saudi Arabia’s oil production peaked in 2005
I was wondering in May 2008 if oil production already peaked. The Oil Drum brings us more data on peak oil as to their latest article non-OPEC countries’ oil production peaked in 2004. Indeed, Russia – the world’s second oil producer – saw its production peaked in 2008 and is due to decrease by 8… Continue reading Oil production peaked in non-OPEC countries