1887
Volume 25, Issue 12
  • ISSN: 0263-5046
  • E-ISSN: 1365-2397

Abstract

Let me start by looking again at something I presented back in 2003. At that time, this slide summarized the task that we saw facing the industry. The figures, from the 2002 IEA World Energy Outlook, forecast that 2002 oil production of 77 million b/d would need to grow to 88 million by 2010. The same forecast also predicted that this increase would be dwarfed by the 33 million b/d required to replace production lost to decline. We now know that world oil production is likely to reach the 88 million b/d level perhaps as early as this coming winter—almost two years ahead of time. So what happened to change this picture and why is the industry challenged in expanding capacity to meet the increased demand?

Loading

Article metrics loading...

/content/journals/0.3997/1365-2397.25.12.27719
2007-12-01
2024-03-29
Loading full text...

Full text loading...

http://instance.metastore.ingenta.com/content/journals/0.3997/1365-2397.25.12.27719
Loading
  • Article Type: Research Article
This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error