Oil production overall world-wide is reaching it’s peak and by mid-2004 will have topped-out, thereafter it’s all downhill for total world oil production.
Part of the problem is that oil reserves have been overestimated by poor science influenced by corporate greed, with many oil reserves being much, much less than was expected or advertised.
Some producers will begin to admit that their oil reserves were only 1/10th of what they had previously expected.
News of this will quietly begin to creep through the meetings of those with power & privilege, but not be noticed in the public media until late 2005.
Kerosene and Natural Gas prices will climb from Dec 2004 onwards. Until 2010, this news will be barely commented upon publicly.
The nations with the greater oil reserves will also change, as deep core drilling finds oil (at greater expense and difficulty) in regions not previously known for having large oil reserves.
No comments:
Post a Comment