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I wish all those thinking we will get to 100M/d would indicate where the barrels are coming from... Crhis does say where, and thinks we have 'two good years left', which I assume means higher production, but otoh this year was one that he thought would be a good year, and it is less than last. IMO the problem is that in the past a given amount of infrastructure, eg rigs, would produce so many b/d, nowadays we are developing much smaller fields, the wells produce less and for less time, but the piping, rig and other infrastructure requirements remain high so production/unit infrastructure (excluding ships) crashes. We simply don't have enough rigs to produce from the new small fields, so projects are invariably late, usefully ameliorating the post peak decline but bringing forward the peak itself. Probably best scenario possible.
Meanwhile opec not looking to expand production... Quite a few are expecting peak at 100M/d or above, I doubt we will ever exceed 2005 c+c.
jkissing, you hit the nail on the head.
In a perfect world, with perfect infrastructure, we could expect numbers similar on a timeline to whats being discussed at the ASPO conference.
But as you all know this isn't a perfect world. Fields don't behave the way they should on paper; pipelines break; national oil companies damage their fields; refinery fires and explosions happen. you name it, it will happen in this industry.
The infrastructure is old. The oil isn't getting sweeter. Nothing is getting easier. I take whatever number the general consensus is from ASPO and substract 3-5 years because we do not live in a perfect world, and never will.
I shudder when I think of when 3-5 years before the consensus is. 2014? 2011? We may very likely be in no man's land already, and the way international actors are behaving, probably are.
Good luck to everyone.
They simply forget to calculate Murphy's law into account.
They don't understand that things are getting harder and not easier.
I also find some thoughts presented as staggering:
From Mike Rogers
50mbd. Amazing. So they will only peak then. Apart from Iraq and Angola, I can't see any growth happening. Right now, OPEC is struggling to meet 30mbd, and this guy figures 50, just after 13 more years of oil depletion? Right.
I'll be more apologizing in the unconventional, because that sector may grow above expectations from new technologies and stuff. But, being realistic, I'd prefer a more conservative approach, and if I'd be wrong, that would be like a kind of bonus.
From Pierre-Rene Bauquis, I find this kind of "predictions" amazing:
Where do these people come from? They ought to know that a "prediction" of a century span is not a prediction, but rather a program, with no doubt at all, a very personal one. Many things can happen and predicting at this level is bullshit. I could even say:
By 2100 the energy for transportation will come 30% from renewables, 60% from nuclear power, and 10% from oil and gas.
or
By 2100 the energy for transportation will come 30% from nuclear power, 60% from renewables, and 10% from oil and gas.
I'd be exactly as precise.
overall I agree with everything else, being the point in case that Murphy's law should be accounted for, as Jim Buckee noted:
Is this problem really accounted for?