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How much oil remains for the world to produce? Comparing assessment methods, and separating fact from fiction
How much oil remains for the world to produce? Comparing assessment methods, and separating fact from fiction Abstract This paper assesses how much oil remains to be produced, and whether this poses a significant constraint to global development. We describe the different categories of oil and related liquid fuels, and show that public-domain by-country and global […]
Energy consultancy keeps lowering worldwide recoverable oil resources
Energy consultancy keeps lowering worldwide recoverable oil resources It’s hard to say that three years makes a trend. But one of the world’s major energy consulting firms has lowered its estimate of world oil reserves for three years in a row now. Rystad Energy provides a publicly available analysis of world oil reserves each year. In […]
How Much Oil Can Saudi Arabia Really Produce?
How Much Oil Can Saudi Arabia Really Produce? For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation from the Saudis over precisely what these numbers are. The reason for obfuscation is that Saudi Arabia’s […]
Big Oil Is In Desperate Need Of New Discoveries
Big Oil Is In Desperate Need Of New Discoveries The year 2020 was a watershed moment for the fossil fuel sector. Faced with a global pandemic, severe demand shocks and a shift towards renewable energy, experts warned that nearly $900 billion worth of reserves–or about one-third of the value of big oil and gas companies–were […]
Wikileaks Cables: Saudi Arabia Oil Reserves Overstated
Wikileaks Cables: Saudi Arabia Oil Reserves Overstated UNYOM The United States fears that Saudi Arabia, the world’s largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show. The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government […]
Satellite Images Reveal Saudis May Be Lying How Much Oil They Have In Storage
Satellite Images Reveal Saudis May Be Lying How Much Oil They Have In Storage A little over a year ago, specialized satellite imaging company Orbital Insight which uses its proprietary imaging and algorithms to track above-ground oil storage, confirmed something we had alleged earlier in the year: that China was vastly under-representing the amount of […]
Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters
Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters (ANTIMEDIA) — Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way […]
Norway Oil and Gas: Reserves, Production and Future Projection
Norway Oil and Gas: Reserves, Production and Future Projection Norwegian oil production peaked in 2000 to 2001; gas production may be peaking about now. Oil hit a low in 2013 and then recovered towards a new local peak, probably concurrent with the gas. drilling and development The most surprising thing I find with their industry […]
Australia’s oil stock coverage on record low
Australia’s oil stock coverage on record low In prime time evening news of the Australian public broadcaster ABC TV, on 21 June 2017, the business presenter Alan Kohler tried to explain a fall in oil prices by “record oil inventories around the world” http://www.abc.net.au/news/business/kohler-report/ Well, let’s go around the world on a map and stay […]
