The Oil Drum

A field-by-field analysis of global oil production and development shows the world is [1] not running out of oil in the near- or medium-term, and a large increase in the availability of [2] unconventional oils will expand global liquid hydrocarbons capacity by as much as one-fourth in the next ten years, Cambridge Energy Research Associates (CERA), testified to a U.S. House of Representatives subcommittee .last December

"We see no evidence to suggest a peak before 2020, [3] nor do we see a transparent and technically sound analysis from another source that justifies belief in an imminent peak," CERA Senior Consultant and Director of Global Oil and Gas Resources Robert Esser testified before a House Energy and Air Quality Subcommittee hearing on Understanding the Peak Oil Theory.  "It will be a number of decades into this century before we get to an inflexion point that will [4] herald the arrival of an `undulating plateau' of global hydrocarbon production capacity," Esser said.

Expanding Sources

CERA projects that world oil production capacity - including crude oil, condensate, natural gas liquids (NGLs), oil sands, gas-to-liquids (GTL), [5]and other sources - has the potential to rise from 87 million barrels per day (mbd) in 2005 to as much as 108 mbd by 2015, with further growth in capacity continuing after that point.

"A detailed new audit of our own analysis and the enormous scale of reserve upgrades in existing fields, confirmed by the most extensive and complete databases on field production - [6]the proprietary databases of IHS, of which CERA is now part - contradicts those who believe that peak oil is imminent," Esser testified.

And here is your secret decoder ring code book:

[1] "Running out of oil" -very true, as long as there is one drop left somewhere, we have not "run out". See how truthful we are?

[2] "unconventional oils" --good thing we are counting Omega 3 fish oils

[3] they don't know what's underground either --gee that makes your position (CERA's) really strong (especially if you get to conveniently ignore Hubbert's curve and the fact that he was right)

[4] imagery of blowing trumpets and waving flags ("herald" and "undulate"), the word of God, it comes only from CERA's lips and their number [6] "proprietary" databases

[5] "other sources" --this covers the yet to be discovered Philosopher's Stone which some same say is a Zero Point Energy source

Remember kids, this is a SECRET decoder ring. Don't let your friends see it.