Ominous Sign #3
4/08/2006 12:09:00 AM | Author: baloghblog
Times Online: World 'cannot meet oil demand'
“Numbers like 120 million barrels per day will never be reached, never,” he said.

The IEA predicted in its World Energy Outlook that global demand for crude oil would reach 121 million barrels per day by 2030, of which more than half would be supplied by Opec. The agency predicted that more than $3 trillion (£1.72 trillion) of investment in wells, pipelines and refineries would be needed to raise output to such levels.

However, Total’s exploration chief reckons the output rise is impossible, given available resources and geopolitical constraints on gaining access to reserves in Opec countries.

(that pic is supposed to be "ominous" heh heh)

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3 comments:

On 8:35 PM , Amy Stodghill said...

Can't wait to see what looms in Ominus #4! :)

 
On 8:36 PM , Amy Stodghill said...

I mean, Ominous...

 
On 7:06 PM , RomeHater said...

I thought E85 ethanol went for about $2.50 a gallon. Why don't all those FFV Ford owners get the gas stations to open up one or two ethanol pumps.