by AAA » Tue 17 Mar 2009, 18:24:42
If you don't know the name Steve Andrews then shame on you. He is the co-founder of Association for the Study of Peak Oil and Gas. Check out the
ASPO-USA website if you have never been before. You might learn something.
I received the March issue of
Oil and Gas Investor magazine and found an article on Page 47 titled "Peak Oil Thoughts".
If you actually work in the oil industry then a copy of this will be floating around your offices somewhere. Unfortunately most peak oil members don't know what crude oil actually looks and smells like. But that is beside the point.
$this->bbcode_second_pass_quote('Steve Andrews', ' ')We think it's reasonable to make the case that we have hit the peak-oil plateau. But we don't think today's prices are enough to incent sufficient production of conventional oil to keep us on this plateau. It may lead to a sooner decline off the plateau.
The article goes on to say...
$this->bbcode_second_pass_quote('Steve Andrews', ' ')When it comes to unconventional oil, we don't see much on the horizon. Unconventional resources have been viewed as sources that would slow decline on the back side of the peak-oil plateau, but they will contribute much less at today's lower prices
Steve then goes on to predict prices for year end 2009....
$this->bbcode_second_pass_quote('Steve Andrews', ' ')We'd be surprised if oil doesn't bounce back to between $50 and $70 by the end of the year...
