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Page added on November 10, 2012
OPEC: Crude may hit $ 155 by 2035
OPEC says that fossil fuels will remain the main energy source in the coming decades with coal’s share growing and oil’s falling.
In its annual World Oil Outlook, the Organization of the Petroleum Exporting Countries also projects that a barrel of benchmark crude will cost $ 155 by 2035, compared with under $ 100 now. It says the use of fossil fuels as a percentage of world energy use will decrease only marginally from 87 percent now to 82 percent by 2035. It says that by then, “coal use reaches similar levels as that of oil, with oil’s share having fallen from 35 percent in 2010 to 27 percent by 2035.”
The report notes there are more coal reserves — mostly in the US — than oil and gas.
6 Comments on "OPEC: Crude may hit $ 155 by 2035"
poaecdotcom on Sat, 10th Nov 2012 4:51 pm
The editor here at Peak Oil has a good sense of humor!!!!
If this is not rage bait, I’m not sure what is…. go local
Newfie on Sat, 10th Nov 2012 10:04 pm
Here’s my prediction:
Crude oil will hit $155 bbl by 2015.
Beery on Sat, 10th Nov 2012 11:33 pm
The only way crude will take 23 more years to hit $155 is if there is a massive depression, and while that is very possible, somehow I think OPEC are not factoring that possibility in. In other words, OPEC is being waaaay too optimistic.
BillT on Sun, 11th Nov 2012 3:32 am
Twenty three years from now, oil may be history. Who can guess a price that far away when they could not even see $147 oil coming? We will be lucky to have a world in 2035 to worry about the price of oil.
lump on Sun, 11th Nov 2012 5:37 pm
It’s already hit $147 ..$155 could happen real soon..but I bet the roads Will still be packed for the next 100 years
lump on Sun, 11th Nov 2012 5:42 pm
It’s already hit $147 ..$155 could happen real soon.