David Strahan – Page 17 – write first draft

The unpalatable truth: $100 oil is just for starters

November 9, 2007 By David Strahan1 Comment

First published in the Evening Standard, 9 November 2007 With the markets hypnotized by the approach of $100 oil, analysts are pointing the finger at all the usual suspects: speculators, the OPEC bogeyman, the weak dollar, soaring consumption in China and India, and geopolitical tensions. All play a part but the real cause is altogether less palatable. The world is running short of oil, and this time it is likely to be permanent. (more…)...

“Supply crunch” is not peak oil – IEA

November 7, 2007March 19, 2018 By David Strahan2 Comments

There is no contradiction between the International Energy Agency's forecast of long term oil supply growth to 2030 and a "supply crunch" by 2015, according to its chief economist Fatih Birol. Mr Birol insisted today that the short term crisis would not be caused by a fundamental shortage of oil but by entirely man-made factors. (more…)...

Total boss on why oil production will never top 100 mb/d

November 2, 2007March 19, 2018 By David Strahan2 Comments

Christophe de Margerie has a reputation for forthright views and blunt speaking, but this week the chief executive of Total excelled himself by dismissing the IEA’s oil production forecasts as unrealistic, while coining an aphorism worthy of Donald Rumsfeld. (more…)...

IEA reviews reliance on USGS resource estimates

October 31, 2007March 19, 2018 By David Strahan7 Comments

IEA chief economist Fatih Birol has told lastoilshock.com that the agency will review its use of resource estimates from the United States Geological Survey, in a move that seems certain to prompt a major downward revision of its long term oil production forecast. (more…)...

Oil reserves over-inflated by 300bn barrels – al-Huseini

October 30, 2007March 19, 2018 By David Strahan7 Comments

The world’s proved reserves have been have been falsely puffed up by the inclusion of 300 billion barrels of speculative resources, according to the former head of exploration and production at Saudi Aramco, and this explains the industry’s inability to raise output despite soaring prices. (more…)...

Oil has peaked, prices to soar – Sadad al-Huseini

October 29, 2007March 19, 2018 By David Strahan19 Comments

Sadad al-Huseini says that global production has reached its maximum sustainable plateau and that output will start to fall within 15 years, by which time the world’s oil resources will be “very severely depleted”. (more…)...

Slippery slope

October 3, 2007 By David StrahanNo Comments

By David Strahan. First published in the Guardian, 3 October 2007. The Irish chapter of the Association for the Study of Peak Oil could hardly have wished for better. On the first day of its recent conference in Cork, the oil price obliged by striking a new all-time high. And in the following days it struck three more in a row. (more…)...