Joined: Mar 04, 2005 Posts: 2576 Location: New Zealand
Posted: Fri May 16, 2008 5:03 am Post subject: Global Oil Output To Peak In 2022; Iraq Potential Key - CGES
Global Oil Output To Peak In 2022; Iraq Potential Key - CGES
Quote:
Global crude oil production will reach its peak in 2022, but the decline in output could be stemmed if Iraq's production recovers, said Leo Drollas, chief economist of the London-based Centre for Global Energy Studies Tuesday.
CGES, which analyzes oil markets, says Iraq holds potential oil reserves of over 200 billion barrels, far greater than Iraqi government estimates of 113 billion barrels.
With adequate investment and stronger security infrastructure, Iraq could raise its oil production to 10 million barrels a day within five to 10 years, from the current 2.3 to 2.4 million barrels a day, Drollas said.
That stoppage, and the uneven return of the industry in the following four years, has been one of the biggest disruptions to global oil supplies.
nasdaq _________________ Human history becomes more and more a race between education and catastrophe. H. G. Wells.
Fatih Birol's motto: leave oil before it leaves us.
Joined: Aug 14, 2007 Posts: 238 Location: Montreal Canada
Posted: Fri May 16, 2008 7:50 am Post subject: Re: Global Oil Output To Peak In 2022; Iraq Potential Key -
Let's suck more of our oil from Iraq. In PERFECT conditions maybe we will peak later, but we live in a world who's far away from perfect.
In consequence we peaked!
Last edited by cipi604 on Fri May 16, 2008 7:53 am; edited 2 times in total
Joined: May 18, 2006 Posts: 3964 Location: Minneapolis, MN
Posted: Fri May 16, 2008 7:51 am Post subject: Re: Global Oil Output To Peak In 2022; Iraq Potential Key -
Graeme wrote:
Global Oil Output To Peak In 2022; Iraq Potential Key - CGES
Quote:
Global crude oil production will reach its peak in 2022, but the decline in output could be stemmed if Iraq's production recovers, said Leo Drollas, chief economist of the London-based Centre for Global Energy Studies Tuesday.
CGES, which analyzes oil markets, says Iraq holds potential oil reserves of over 200 billion barrels, far greater than Iraqi government estimates of 113 billion barrels.
With adequate investment and stronger security infrastructure, Iraq could raise its oil production to 10 million barrels a day within five to 10 years, from the current 2.3 to 2.4 million barrels a day, Drollas said.
That stoppage, and the uneven return of the industry in the following four years, has been one of the biggest disruptions to global oil supplies.
Posted: Fri May 16, 2008 1:45 pm Post subject: Re: Global Oil Output To Peak In 2022; Iraq Potential Key -
Graeme wrote:
Global Oil Output To Peak In 2022; Iraq Potential Key - CGES
Quote:
Global crude oil production will reach its peak in 2022, but the decline in output could be stemmed if Iraq's production recovers, said Leo Drollas, chief economist of the London-based Centre for Global Energy Studies Tuesday.
CGES, which analyzes oil markets, says Iraq holds potential oil reserves of over 200 billion barrels, far greater than Iraqi government estimates of 113 billion barrels.
With adequate investment and stronger security infrastructure, Iraq could raise its oil production to 10 million barrels a day within five to 10 years, from the current 2.3 to 2.4 million barrels a day, Drollas said.
That stoppage, and the uneven return of the industry in the following four years, has been one of the biggest disruptions to global oil supplies.
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