How Realistic is EIA’s US Domestic Oil Supply and Demand Forecast?

I was invited to a blogger’s conference call on April 1, hosted by the American Petroleum Institute (API). We were told that each blogger would be allowed to ask one question of Peter Robertson, Vice Chairman of the Board of Directors of Chevron Corporation. The material we were provided in advance was the written statement of Mr. Robertson, prepared for the House Select Committee on Energy Independence and Global Warming. It included a number of charts, including this one…


My question was, “How realistic is EIA’s Chart 5 scenario? If you look at Chart 5, it looks like there is no need to conserve.”

The Oil Drum