No Evidence of Precipitous Fall on Horizon for World Oil Production

Global 4.5% Decline Rate Means No Near-Term Peak: CERA/IHS Study

CAMBRIDGE, Mass.


“Some of the more gloomy, pessimistic ‘peak oil’ views about the future of oil supplies that are current today result from an assumption of high decline rates,” said CERA Oil Industry Activity Director Peter M. Jackson, author of the Finding the Critical Numbers report. “This new analysis provides the basis for more confidence about the future availability of oil.

“The absence of definitive, comprehensive analysis of production timelines and decline rates has led to widely differing estimates of the potential future availability of oil: an information vacuum that has contributed to the ‘peak oil’ theory of future liquids production capacity,” he added. “We hope that this study will contribute to a more informed understanding of the issues, both below ground and above ground.”

Centre Daily Times