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Non-Tech : Alternative energy -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (3552)	1/11/2007 1:03:51 PM
From: Rock_nj	Read Replies (1) \| Respond to of 16955

Oil supply has been increasing for years, including the period 2003 to 2006. Even 2006, which some Peak Oilers thought was post-Peak, shows a slight supply increase vs. 2005. The top number (supply) is still going up (for now), the problem is the bottom number (demand) is going up even faster. I know during the oil glut of the 1980s supply was outstripping demand by 20 Million Barrels Per Day. More recently, I've seen figures such as 2 Million Barrels Per Day of excess oil supply. I doubt we can increase production to 125 Million Barrels Per Day in 23 years. The oil discoveries just aren't happening like they used to, despite some high profile announcements of new discoveries, the numbers just aren't there for new oil discoveries, as they have fallen off considerably over the years. Also, some major fields are now officially in production decline from the North Sea to Mexico to Kuwait. Something has to give at some point. I'll see what I can dig up. This looks like a pretty write up on oil supply/demand: mees.com