Where Supply Increases Come From
Posted by Stuart Staniford on October 4, 2005 - 2:14am
Topic: Supply/Production
Tags: gas prices, hubbert peak, oil prices, peak oil, plateau [list all tags]

Clearly, it's not accurate to say, as some do, that if Saudia Arabia was declining then the whole world would have peaked. However, it probably would be true that if Saudia Arabia and Russia were both declining to any great degree, the whole world would be declining.
At Dave's request, here is a bigger picture with everything on, that is just about guaranteed to cause eyestrain. For some people, following the link to the PDF might be better.
Here's what BP says total production was from 1998-2004.

Note the dips due to the Asian crisis in 1998, and the slowdown in 2000-2002 following the tech-crash in the US and 9/11. Then the very strong increase of 2002-2004. I made the country plot from 2001-2004 as a balance between not wanting to weight the freak events of any one year too much, but also wanting to stay in the near past (on the theory that the near future will not be utterly different than the near past).




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