http://www.theoildrum.com/node/4952#comments_top
IEA = International Energy Agency.
they have always taken a understated approach to describing oil industry news.
for example, when OPEC agree to base production on proven reserves, some OPEC countries doubled the amount of their stated reserves. The IEA accepted the new figures, although they were clearly not based on geography considerations.
in other words, the IEA has always "gone along" with the oil industry.
Fatih Birol is "the man", sort of where oil industry leaders like Matt Simmons (says we're running out, provides more than abundant details) and his arch-opposite, the guy who runs CERA (says oil production will continue to increase, sells info. subscriptions for $3000 a year to American corporations that want to hear the good news).
Matt Simmons is a better speaker. He talks about Fatih Birol & IEA's estimate of
9.1 % production decline, i don't know if that's just oil (75 mbpd) or total liquids (86 mbpd)
mbpd = million barrels per day.
... 9.1 % production decline in 2009.
http://www.netcastdaily.com/br...ast/fsn2008-1213-2.mp3
http://www.financialsense.com/...ndtable/2008/1213.html
Energy Roundtable, with Matt Simmons & Robert Hirsch.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The most prominent oil industry true experts are -
- the CERA guy
- Matt Simmons
- Dr. Robert Hirsch
- Dr. Ken Deffeyes, retired Princeton geology prof.
- Fatih Birol. An oil industry veteran that ended up as chief of the IEA.
Cliff's-
- so in the Financial Sense article, Simmons & Hirsch talk about the 9.1% production decline prediciton made by Fatih Birol.
Deffeyes agrees with what Simmons & Hirsch are saying.
the CERA guy said, "oh, no, there'll be plenty" ... but i don't know what the CERA guy has said about this recent IEA announcement.
isn't energy production news boring ?
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