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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (45508)	1/4/2014 11:40:58 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 86356

more Euan Data late due to severe teabagging Global Oil Supply Update July 2013 Posted on January 3, 2014 by Euan Mearns Global conventional crude oil and condensate production has been following a bumpy plateau just over 73 million barrels per day since May 2005. All growth in liquids supply since May 2005 has come from natural gas liquids (NGL), unconventional oil and biofuels which together with refinery gains now amount to 17.4 million barrel per day providing a total global liquids supply of 90 million barrels per day. The US Energy Information Agency (EIA) provides the most comprehensive and readily accessible oil supply data, but owing to budget cuts, is behind in compiling and publishing statistics. The most recent data are for July 2013. Figure 1 Global crude oil + condensate (C+C) production as reported by the EIA [1] less Canadian syncrude [2] (oil sands) and N American light tight oil [3, 4] (Bakken and Eagleford). Chart not zero scaled. Note how conventional C+C production (blue) rose to 73 million barrels per day in May 2005 but has since been following a bumpy plateau. It remains to be seen if 73 million barrels per day will emerge as the peak in cheap conventional oil production. All growth in global liquids supplies has come from unconventional oil, biofuel and natural gas liquids (Figures 2 and 3). http://euanmearns.com/global-oil-supply-update-july-2013/#more-1630