[Peakoil] IEA warns: oil supplies are running out fast

[Keith Thomas]

Thanks, Tony

But 2020? - what are they smoking?

Those ASPO bods are living in dreamland. They always have been so  
conservative that I wonder what their raison detre can possibly be!
Remember back in November 2005 Kenneth Deffeyes named 24 November that  
year as the day peak oil occurred?

http://www.princeton.edu/hubbert/current-events-06-02.html

James Kunstler went along with him and also thought (and still thinks)  
peak oil occurred in 2005.

The price patterns up to mid-2008 ($US 147 barrel) bore that out. But  
the recession killed marginal demand and the subsequent price fall  
obscure the fact that we are on the downslope.

You can get weekly bulletins from The Long Emergency from James  
Kunstler here:

http://kunstler.com/blog/

It's a colourful weekly reminder of how "it's all connected".
--------------------------------------------
Keith Thomas
www.evfit.com
--------------------------------------------
On 06/08/2009, at 5:51 PM, Antony Barry wrote:

Well we can now say it's "official" The IEA is now panicking.


IEA warns: oil supplies are running out fast
from ASPO International | The Association for the Study of Peak Oil
and Gas by Mikael Höök

The world is heading for a catastrophic energy crunch that could
cripple a global economic recovery because most of the major oil
fields in the world have passed their peak production, a leading
energy economist has warned.

Higher oil prices brought on by a rapid increase in demand and a
stagnation, or even decline, in supply could blow any recovery off
course, said Dr Fatih Birol, the chief economist at the respected
International Energy Agency (IEA) in Paris, which is charged with the
task of assessing future energy supplies by OECD countries.

The International Energy Agency believes peak oil will come perhaps by
2020. But it also believes that we are heading for an even earlier
"oil crunch" because demand after 2010 is likely to exceed dwindling
supplies.

Story at  
http://www.independent.co.uk/news/science/warning-oil-supplies-are- 
running-out-fast-1766585.html


Tony

Phone:02 6241 7659, Mobile:04 3365 2400, Skype:antonybbarry
Email:tony at Tony-Barry.emu.id.au, antonybbarry at gmail.com
http://www.facebook.com/people/Antony-Barry/1386242004
http://tony-barry.emu.id.au