Peak Oil News - Oil Depletion? It's All In The Assumptions -- Part 2

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Oil Depletion? It's All In The Assumptions -- Part 2

Reality Check: CERA's optimistic views are in the minority.

Wall Street firm John S. Herold Inc. of Norwalk, CT http://www.herold.com/ has estimated peak production for about two dozen oil companies. Without substantial new investment and additional discoveries, the company believes that French oil company, Total S.A., will reach peak production in 2007. Exxon Mobil, ConocoPhillips, BP, Royal Dutch/Shell Group, and the Italian producer, Eni S.p.A. will hit peak production in 2008. In 2009, Herold expects ChevronTexaco Corp. to peak. In Herold's view, each of the world's seven largest publicly traded oil companies will begin seeing production declines within the next 48 months or so.

Energy Pulse

Posted on Wednesday, October 12 @ 00:24:08 PDT by waegari

Most read story about Production; Extraction; Exploration:
Does Thermal Depolymerization Solve the Problem of Peak Oil?

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