 | DrumBeat: August 14, 2007 | The Oil Drum | The Resurgence of Risk – A Primer on the Developing Credit Crunch |  |
80 comments on Oilwatch Monthly - August 2007
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80 comments on Oilwatch Monthly - August 2007
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Thanks for putting this together. Enlightening and scary.
The OPEC liquids trend is a joke considering the rate demand is increasing.
LADIES and GENTLEMEN,
let me draw your attention in the left-hand corner to the PROOF that the world, for all intents and purposes
HAS ALREADY PEAKED
Here we have the chart that shows
in an unequivical manner
that exports are off
OVER 5%.
This is of course, a subjective peak. But, like I said, this is the proof that we have reached an **effective** peak.
Verification will come with:
Year on year exports drop 5%.
Month to month crude production drops over 5%.
Month on month all liquids drops over 5%.
Year on year all liquids drops over 5%.
It will take n+1 years appr. to reach each of these verification steps.
2011 will be the year that there will be no possible doubt that 2005/6 was peak.
Just remember the Golden Years, all you who are at the top!
Cheers, Dom
Peak: Wow. Exports already back to 2003 levels. WT appears to be right on target.
Welcome to the Summit.
Enjoy the view.
From here, no matter which way you go, it's all downhill.