Stories tagged with "peak"

The Record Falls - January 2008 is the New World Record for Crude Oil (plus Condensate) Production

Posted by Nate Hagens on April 11, 2008 - 8:44am
Topic: Supply/Production
Tags: bumpy plateau, crude and condensate, eia, global production, peak [list all tags]

The EIA’s newest International Petroleum Monthly shows World C+C production for January was 74,466,000 barrels per day, eclipsing the heretofore peak of May 2005 by 168,000 barrels per day. (thanks to Ron Patterson for the heads up and to Khebab for the quick graphics).


World production (EIA data)
Fig 1.- World production (EIA data). Blue lines and pentagrams are indicating monthly maximum. Monthly data for CO from the EIA. Annual data for NGPL and Other Liquids from 1980 to 2001 have been upsampled to get monthly estimates. Click to Enlarge.
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Saudis officially happy with $100 oil

Posted by Jerome a Paris on November 13, 2007 - 6:30pm in The Oil Drum: Europe
Topic: Demand/Consumption
Tags: $100 oil, peak, saudi arabia, spare capacity, speculation [list all tags]

In an interview with the Financial Times, the Saudi oil minister, Ali Naimi, admits he is powerless in today's market:

We have nothing to do [with] where the price is today. (...) We work very hard and consciously to be sure that whatever actions we take that we are responsible do not dampen economic growth. (...) We are today not producing all our capacity because it is not needed. The demand is not there, the customers are not there.

This was initially posted as Opus 53 of my "Countdown to $100 oil" series on European Tribune.

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Peak Minerals

Posted by Chris Vernon on October 15, 2007 - 12:00pm in The Oil Drum: Europe
Topic: Supply/Production
Tags: aspo, m. king hubbert, minerals, peak, reserves, usgs [list all tags]

This is a guest post from Ugo Bardi and Marco Pagani. Ugo Bardi teaches chemistry at the University of Florence, Italy. He is the president of the Italian section of the Association for the Study of Peak Oil and Gas (ASPO) (www.aspoitalia.net). Marco Pagani is a physicist presently teaching and physics in secondary schools. He is a member of ASPO-Italy, a social and environmental activist, and the blogger of ecoalfabeta. (ecoalfabeta.blogosfere.it)
    Abstract: We examined the world production of 57 minerals reported in the database of the United States Geological Survey (USGS). Of these, we found 11 cases where production has clearly peaked and is now declining. Several more may be peaking or be close to peaking. Fitting the production curve with a logistic function we see that, in most cases, the ultimate amount extrapolated from the fitting corresponds well to the amount obtained summing the cumulative production so far and the reserves estimated by the USGS. These results are a clear indication that the Hubbert model is valid for the worldwide production of minerals and not just for regional cases. It strongly supports the concept that “Peak oil” is just one of several cases of worldwide peaking and decline of a depletable resource. Many more mineral resources may peak worldwide and start their decline in the near future.
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The Shape of Oil to Come

Posted by Rembrandt on October 12, 2007 - 9:00am in The Oil Drum: Europe
Topic: Supply/Production
Tags: original, peak, plateau, reserves growth, supply [list all tags]

This article is about the way in which oil production is going evolve. Will there be a sharp peak, or a long lasting plateau?

Our future is highly dependent on the way in which worldwide crude oil production is going to decline. If it goes rapidly, declining with a few percent each year or more, than it will be very difficult to complete the energy transition without severe economical consequences. If production stabilizes and plateaus for a decade or longer, after which the period of long decline begins, it would provide much greater means to sustain the present economy. Stability is needed to scale up alternative sources of energy sufficiently to replace crude oil during a transition period of decades.

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