depletion, Tag

The latest OPEC Monthly Oil Market Report (MOMR) foresees that demand for OPEC crude oil will decline over the next year by about 300 kbd. This is largely in anticipation of additional production from elsewhere:

Saudi Aramco has stated that it designs the well layouts and extraction patterns from its oil fields so that they effectively decline at a rate of 2% per year.* If one divides 100 by 2 it yields 50. If one subtracts 50...

For decades, economists (Cornucopians or optimists) have been at odds with natural scientists (Malthusians or pessimists) when it comes to the scarcity of natural resources...

André Diederen's recent book on resource depletion I have been thinking, sometimes, that I could reserve a shelf of my library for those books which have that elusive quality that I could call "modern wisdom"...

I thought that, with the indulgence of the more technically qualified of the commentators, I might take a little time to explain in my own way, some of the many issues that were debated here at TOD over the past week...