Peak Oil and the Unsustainable Growth in Oil Demand
The release of the International Energy Agency's Oil Market Report for September is a good time to review the status of our ongoing crisis, for the report updates the IEA's latest thinking on the prospects for global oil. The IEA reports that its preliminary estimate for world oil production in August was 89.1 million b/d despite the loss of 1.6 million b/d of Libyan production. The Agency, however, maintains that the demand for oil has been running ahead of global production since the second half 2010 when the demand for oil surged.
The difference between supply and demand, which for a
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The difference between supply and demand, which for a
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