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172 comments on DrumBeat: November 12, 2008
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172 comments on DrumBeat: November 12, 2008
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I removed the "width" tag, because for people with large screens, it blows the image up to unreadable size.
If the low price is causing hesitation in the short-term, like the first two links on IEA indicate, but we are OK out to 2030, although demand is outstrripping supply, why are we not all a little confused?
If we have the shortfall, and supply fails to meet demand for the next 12 - 18 months, supply would have to grow faster than projected to make up for that shortfall, spurred by the higher prices brought about by the shortage, but without extreme expansion of infrastructure (like way more rigs, etc) which will be worsened by the low prices in the short term, we can't possibly catch up.
All that, and I don't think a word of it is true. My opinion, like everyone slse's, does not matter though. The shortages are going to hurt the lower income folks in developed countries the worst. The population in sub-Saharan Africa will not be hurt as bad because they do not use fossil fuels at anywhere the rate, per capita, western populations do. Whether we have peaked or not, the demand has been here in the past and will be again in the future, and we will not have another Kuwait to add each and every year as another article linked to Bloomberg suggests.