[Graeme]

Global energy consumption growth slows, reserves dip in 2006 - BP

$this->bbcode_second_pass_quote('', 'T')he growth in the world's energy consumption eased in 2006 as oil and gas prices continued to soar, while proved reserves declined slightly, BP (nyse: BP - news - people ) PLC said in its annual Statistical Review of World Energy.

Energy consumption rose 2.4 pct in 2006, slowing from the 3.2 pct growth in 2005 and just above the 10-year average. Growth slowed for every fuel, including oil and gas, but excluding nuclear power.

Despite the energy market boom that triggered heavy spending in exploration and production, the world's proved oil and gas reserves fell slightly to 1.208 trillion barrels from 1.209 trillion previously, the oil giant said.

[pup55]

Ah, the new BP Review....This is my favorite day of the year.


The most important number on this is the global oil production, which shows a .4% increase between 2005 and 2006.

So, as defined by BP, the world did not peak in 2005.

Furthermore, and much much more important, some of the participants in this forum made a certain wager in 2004, which is now collectable, that some quantity of money would be donated to PO.com when the 2007 report came out, based on whether or not the 2006 production was higher than the 2005, that is, whether the peak occurred in 2005 or not.

The archives of this forum are all-knowing, so I will track these mooches down between now and the end of the day, rest assured.

Note that Saudi did in fact have lower production in 2006 than in 2005.

[pup55]

http://peakoil.com/fortopic4896-0-asc-30.html

Here it is. Gary_Malcom, and Cool Hand Linc, where are you?

To be fair, my part of the bet was to pay off if three out of the five sources gave lower 2006 production than 2005 production.

The BP review and the IEA say higher in 2006.

ASPO and the US-EIA both say higher in 2005.

So if anybody has access to the Oil and Gas Journal, and can look up the statistics for us, it will decide whether I will contribute my 2 Euros to PO.com.

[ECM]

Ignore post, found answer