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Peak Oil

ralfy

(28 posts)

5. Ave. production, production cost, production rate.

Reply to Nederland (Original post)

Sat Sep 29, 2012, 11:04 AM

Sep 2012

The ave. production level from 2005 to the present is still 73.5 mb/d, which confirms the IEA argument that peak oil took place in 2005. The production cost is now around $100 a barrel. Finally, what should be noted is production rate, not reserves, especially if demand is higher than production rate. With that, the effects of peak oil take place even before production drops.

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Highlight:

What Happened to Peak Oil? [View all] Nederland Sep 2012 OP

They've found new turnips to squeeze blood from thelordofhell Sep 2012 #1

Just look at the price... MikeBlack Sep 2012 #2

The plunge at the end of 2008 Nederland Sep 2012 #4

I did a rough calculation on old DU2 a few years ago, when gasoline equals pay per hour happyslug Sep 2012 #3

Ave. production, production cost, production rate. ralfy Sep 2012 #5