The Oil Drum: An Oil Export – Import Model for the UK

This post follows up on the work of Khebab and Westexas on US oil imports and the recent discussion on TOD about declining oil exports from Export Lands. In the Export Land model, the focus is on oil exports as opposed to oil production. This recognises that the economies of many oil-exporting countries are booming, e.g. Russia and the UAE, resulting in sharply increased consumption of oil by those countries and this decreases their oil export capacity.

The UK provides an interesting Export Land example because since 1980, the UK has been a net oil exporter. However, following the production peak of 1999, production has been declining at an average rate of 7.56% / year and this year the UK will change from an oil Export Land to an oil Import Land.

Much more after the jump to The Oil Drum.