KenH
Well-Known Member
The Future of Global Oil Supply: Understanding the Building Blocks
Author: Peter M. Jackson
OIL SUPPLY--WHAT BLUEPRINT FOR THE FUTURE?
The controversy surrounding future oil supply can be divided into two components: a determination of the factors that will drive the much-debated future of oil supply and then, longer term, a consideration of consequences and the actions required when oil supply eventually plateaus. IHS CERA identifies a number of critical observations at the core of this analysis of future supply:
Author: Peter M. Jackson
OIL SUPPLY--WHAT BLUEPRINT FOR THE FUTURE?
The controversy surrounding future oil supply can be divided into two components: a determination of the factors that will drive the much-debated future of oil supply and then, longer term, a consideration of consequences and the actions required when oil supply eventually plateaus. IHS CERA identifies a number of critical observations at the core of this analysis of future supply:
- Supply evolution through 2030 is not a question of resource availability.
- IHS CERA projects growth of productive capacity through 2030, with no peak evident.
- There is no unique picture of the course of future of supply: we are dealing with a complex, multicomponent system.
- Aboveground drivers—economics, costs, service sector capability, geopolitics, the timing and nature of government decision making, and, centrally of course, investment—are crucial to future supply availability.
- Market dynamics will remain highly volatile.
- The upstream oil industry faces major challenges in finding new oil and turning discoveries into commercial production.
