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86 comments on Oilwatch Monthly - June 2008

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Rembrandt on June 16, 2008 - 4:04am Permalink | Subthread | Parent | Comments top

@Cjwirth

Thanks for raising the issue of biofuels. I intend to add a chart next month which seperates biofuel production from other liquids production. This is easier than it seems because the data for biofuels is not separately available from one source.

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Termoil on June 17, 2008 - 1:46am Permalink | Subthread | Parent | Comments top

Would it really make any difference to the trend if it remained consistent? The absolute volume of liquids is really pretty meaningless at an individual or even country level, it is the trend that matters. At the point that ERoEI for biofuels hits 1:1 would this not cause the trend to flatten somewhat anyway?

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ramilehti on June 17, 2008 - 2:28am Permalink | Subthread | Parent | Comments top

I think that the removal of biofuels will change the curves significantly. If you look at the crude oil production levels you see that the trend is down for almost all. Yet world liquids production keeps rising.
Also world oil production is rising slightly or remaining level. Why is that so ? If the trend for most oil producing countries is down? Where is the oil coming from?

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Gwydion on June 17, 2008 - 9:24am Permalink | Subthread | Parent | Comments top

That's my question too. Just examining the charts by eye, you see about a 2 mpd increase in total liquids in 2007, and about a 1 mpd increase in crude oil production. Yet, the only producer in that period that raised it's crude oil production was the KSA which raised it about 0.6 or 0.7 mpd. We've still got 1.4 or 1.3 mpd of liquids to account for. My understanding is that a lot of the extra liquids is some froth that comes up with the gas caps on older reservoirs and condensate from those as well as natural gas wells. Well it must be, otherwise it would show up in the crude oil production curves, but we're still missing some of that too since the crude oil production is higher than just KSA's contribution.

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dtbks on June 17, 2008 - 12:15pm Permalink | Subthread | Parent | Comments top

Just a guess: Angola might be taking up some of the slack and providing some substantial portion of those "missing" barrels. Iraq as well seems to be calming down and outputting more oil these days.

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euro on June 17, 2008 - 9:39am Permalink | Subthread | Parent | Comments top

Biofuels will account for 63 percent of oil supply growth from non OPEC countries this year, taking global production of crop-based fuel to more than 1.5 million barrels a day, the IEA said today.

http://www.worldwideag.net/index2.php?option=com_content&do_pdf=1&id=1267

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86 comments on Oilwatch Monthly - June 2008

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