[MrMambo]

link to worldoil.com:

http://worldoil.com/INFOCENTER/STATISTI ... production

the table on the page shows production for june 2007 against may 2007 against averages for 2006 and 2005. And the numbers show that june production is lower than averages for 2005 and 2006 as well as for may.

Total Supply (world):
83.71 (June 2007)
84.27 (May 2007)
84.69 (Average 2006)
84.16 (Average 2005)

How come production is dropping while prices are so high? Shouldn't market forces "generate" more supply?

Isn't China and India consuming signifficantly more each year? What areas in the world have had to cut back on consumption to leave room for increases in chineese and indian oil consumption?

Interestingly enough I see that my homecountry (Norway) has one of the largest production drops over the period. We were close to 3 mb/d in 2005 and was over 2.5 mb/d in May, but in June we saw only 2.16 mb/d... from almost 3 to slightly above 2 since 2005 to now... thats pretty steep decline.

[Ayame]

$this->bbcode_second_pass_quote('MrMambo', 'H')ow come production is dropping while prices are so high? Shouldn't market forces "generate" more supply?

[waegari]

If the trend continues, then it seems we can safely say, world oil production peaked around august 2006, according to those figures...

Add to this:

$this->bbcode_second_pass_quote('', 'S')audi Aramco’s annual production of crude oil dropped 1.7% to 3.253 billion barrels (8.9 million barrels per day) in 2006 from 3.309 billion barrels in 2005 (9.1 million barrels per day), according to the company’s Annual Review for 2006.

[PraiseDoom]

$this->bbcode_second_pass_quote('MrMambo', 'l')ink to worldoil.com:

How come production is dropping while prices are so high? Shouldn't market forces "generate" more supply?

Isn't China and India consuming signifficantly more each year? .

[Ayame]

$this->bbcode_second_pass_quote('PraiseDoom', 'I') know its all a terrible blow to those of us who bought into the quick dieoff, but it sure looks so far like the "market will make do" types are winning the arguement. I'm cancelling my subscription to 'FromTheWilderness" immediately, summer is over, and we STILL don't have our Gorge.

[Twilight]

Anyone who bought into the quick die-off got suckered. It doesn't work like that. There are a lot of barriers to be broken down before the consequences of depletion reach us.

[FrankRichards]

$this->bbcode_second_pass_quote('MrMambo', 'l')ink to worldoil.com:

http://worldoil.com/INFOCENTER/STATISTI ... production

the table on the page shows production for june 2007 against may 2007 against averages for 2006 and 2005. And the numbers show that june production is lower than averages for 2005 and 2006 as well as for may.

[Ferretlover]

$this->bbcode_second_pass_quote('MrMambo', ' ')How come production is dropping while prices are so high? Shouldn't market forces "generate" more supply?

[coyote]

$this->bbcode_second_pass_quote('', 'A')re we now in real decline (total liquids)?

Yes - we are now past peak oil.
No - we can still see higher average production figures for 2007 or in the future, than for previous years.

[billp]

Thanks for info.

$this->bbcode_second_pass_quote('', 'U')pdate Sunday September 9, 2007

link to worldoil.com:

http://worldoil.com/INFOCENTER/STATISTI ... production

the table on the page shows production for june 2007 against may 2007 against averages for 2006 and 2005. And the numbers show that june production is lower than averages for 2005 and 2006 as well as for may.

Total Supply (world):
83.71 (June 2007) 84.27 (May 2007)
84.69 (Average 2006)
84.16 (Average 2005)

Are we now in real decline (total liquids)?

[Carlhole]

Higher prices will create a continous and evolving process of demand destruction/efficiency enhancement worldwide. And this could happen on multiple levels for a whole bunch of years.

And it really would be best if the process of demand destruction DID continue on for a long time. This will give us a chance to innovate properly.

[phaeryen]

$this->bbcode_second_pass_quote('PraiseDoom', '')$this->bbcode_second_pass_quote('MrMambo', 'l')ink to worldoil.com:

How come production is dropping while prices are so high? Shouldn't market forces "generate" more supply?

Isn't China and India consuming signifficantly more each year? .

[billp]

$this->bbcode_second_pass_quote('', '"')The shit" is coming, it's already here, .."

[Bas]

good find MrMambo! These are the first figures I see that say decline; all the agencies are still predicting 85mbd or so for this year but I think they won't be able to deny the inevitable much longer if these figures are true.

[Cyrus]

$this->bbcode_second_pass_quote('MrMambo', '
')
Interestingly enough I see that my homecountry (Norway) has one of the largest production drops over the period. We were close to 3 mb/d in 2005 and was over 2.5 mb/d in May, but in June we saw only 2.16 mb/d... from almost 3 to slightly above 2 since 2005 to now... thats pretty steep decline.

[billp]

$this->bbcode_second_pass_quote('', 'W')hen installed nuclear, solar, wind, and hydro is not sufficient to maintain installed nuclear, solar, wind, and hydro

[FloridaGirl]

The ASPO graph that PO.com frequently uses shows Deep Water oil causing a total peak of crude oil at about 2010. What's going on with Deep Water oil? Is it going to cause another peak or was ASPO overly optimistic?

[coyote]

That's an outstanding avatar, Zardoz.

{edit: oooooooops sorry pstarr }