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Energy Watch Group: Oil Peaked in 2006

This report from Energy Watch Group is far more pessimistic than any other I have seen. They believe there will be enormous delays in new megaprojects coming on stream and that the decline rates in older fields will be faster than others think, particularly in the Middle East.  So, for example, EWG says oil production in 2020 will be 58 mb/d compared with the IEA estimate of 105 mb/d.  This is a sort of doomsday scenario.  Interestingly, their predictions are based on similar themes in regard to megaproject delays to the one release in January by CIBC.

More on this topic (What's this?)
Gold climbs to $1250, Oil at $200 (Investment U, 5/26/09)
Three Big Reasons Oil Prices Will Rally Back Big Time (Money Morning, 5/23/09)
Guest Post: The Good, The Bad And The GDP (Zero Hedge, 5/29/09)
Read more on Energy, Oil Prices at Wikinvest

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This entry was posted on Sunday, March 9th, 2008 at 9:35 am and is filed under Megaprojects, Middle East, Peak Oil. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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