IMF on peak oil; US shale oil

[Jeremy Wakeford]

Greetings,

Here's a good piece by Tom Whipple of ASPO-USA about the hype around US
shale/tight oil and the recent IMF paper on peak oil:

http://energybulletin.net/stories/2012-11-14/the-peak-oil-crisis-alternative-futures

He just makes one error, which is that the IMF scenarios were
benchmarked against the historical growth rate in oil production of 1.8%
p.a., so that their first scenario is actually for positive growth in
oil supply of 0.8% p.a. and the worst case, for a 2.2% annual decline.
If the decline were actually 3.8% p.a., the consequences would be that
much worse.

Regards,

--
Jeremy Wakeford

Chairperson
Association for the Study of Peak Oil - South Africa
Tel.: +27 (0)28 722 1115
Cell: +27 (0)71 210 8204
Fax: +27 (0)86 624 8646
Skype: Jeremy.Wakeford
www.aspo.org.za