Proposition: global effort to model largest oil fields

Oil is the world

* How can the oil price be maintained at levels sufficient to assure adequate investment to maximize exploitation of oil resources concurrent with timely and adequate investment in alternative energy sources?

A second tier of questions is tied to the best use of oil when supply cannot meet demand. The proposal made in this article will be essential to addressing those questions as well.

Answers to any of these questions are predicated upon a reliable and credible forecast of global delivery capacity. The need for answers becomes more urgent as excess productive capacity shrinks and oil remains the primary and cheapest source of energy (Fig. 1).1 Primary contributing factors to the present inadequacy of energy investment are price volatility and uncertainty of future delivery capacities, which are the byproducts of tightening supply.

The authors confirm the work of others that the energy future depends upon a handful of irreplaceable and aging fields, many of which are in unknown states of depletion. It is time for the world to better understand global oil productive capacity in order to take appropriate measures.

Oil and Gas Journal