Can OPEC Save the World Economy?

…As for cheap oil which has returned, briefly, to signal that all asset classes are in deflationary rout at this moment (Q4 2008) the ASPO 7 conference in Barcelona, Spain (Oct 2008) provided sobering and very coherent, convergent data on probable future supply trends. By 2010 it is likely the ‘Peak Oil plateau’ of around 89 Mbd (including about 1.4 Mbd “well-to-wheel” losses in production, transport, storage) will break. Usual press estimates of world total oil production (ranging around 87


After the Peak Oil plateau, from 2010, we will move into the post-plateau downslope in world oil availability. Average annual long-term loss will likely run at about 4% by volume, and about 6% annual for export volumes, specially due to the immoderate appetites of oil producer countries