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"Has peak oil peaked," asks Liam Denning in the sort of article you see after crude has declined...

"Has peak oil peaked," asks Liam Denning in the sort of article you see after crude has declined 25% in less than 2 months. Oil producers (and consumers) over the coming years are set to harvest the benefits of a decade of investment spurred by years of high prices, argues former oil exec Leonard Maugeri.
Comments (14)
  • In addition to new drilling techniques, energy source diversification and energy efficiency improvements will mitigate any potential impact from supply constraints in production.
    26 Jun 2012, 09:57 AM Reply Like
  • High prices cure high prices. US production will be increasing for the next decade, so buy the gathering pipelines and transport pipelines.
    26 Jun 2012, 10:02 AM Reply Like
  • Why is it none of these writers wants to address the canary in the 'reservoir' ... namely the decline curves of Shale? There will continue to be demand increases. Prices will continue to oscillate with higher highs and higher lows. As long as cost of capital remains low the drilling spree can continue. By 2015-17 those countries that export will have reached 50% of the TOTAL oil they will ever export. By 2028-32 there will be NO more exports at any price.
    26 Jun 2012, 10:36 AM Reply Like
  • Decline curves are a way over-hyped issue by oil peakists.


    It just means companies have to drill more and spend more. The cost of tight oil, which will be going down in the future as technologies improve, is currently at $50-60. But brent is still at 90, and tight oil economics remain excellent.
    27 Jun 2012, 02:07 AM Reply Like
  • Shouldn't the writer be answering a question, not asking one? Where in the fracking do these journalists get the idea that a question is news?




    Capt. Brian
    The Lost Navigator
    26 Jun 2012, 01:44 PM Reply Like
  • At the least, he could have drawn the conclusion that the low cost of oil will lower the shipping costs which will lower the cost of oil which will ...
    26 Jun 2012, 03:30 PM Reply Like
  • I think the abundance of gas will lead to a drag on oil prices more so than anything to do with oil supply.


    For years oil companies could use their power to suppress any and all other sources of energy from gaining enough momentum to present a real threat. Well they are not going to be able to do so with natural gas because if the US don't other countries will.
    26 Jun 2012, 06:49 PM Reply Like
  • interestingly "the media just told me we've been sitting on a 25 year high in oil supplies for many, many, many, many....MONTHS! Thanks CNBC!
    26 Jun 2012, 09:10 PM Reply Like
  • We were supposed to run out of oil 100 years ago.


    That didn't happen, either.


    Sort of like Y2K--the crisis that wasn't.


    It did help hardware and software sales, though.
    26 Jun 2012, 10:11 PM Reply Like
  • Demand of oil is increasing and our reserves are depleting. While the Americans can bully the Saudis to pump more to bring the price down for a time, we will see these fluctuations. They are now pumping seawater into their fields to enhance production. This can even have long term damaging effects. When the Saudis simply can't produce any more there will be a massive swing to much higher prices.


    In the meantime, it looks like humanity is doing precious little to prepare for a post carbon future.
    26 Jun 2012, 11:25 PM Reply Like
  • You did know that the US imports more oil from Canada and Mexico than the top 4 OPEC members combined, didn't you?

    27 Jun 2012, 12:44 AM Reply Like
  • You are another mis-informed fellow who got fooled by yesterday's peak oil propaganda and has not yet caught up with latest developments in oil industry.
    27 Jun 2012, 02:08 AM Reply Like
  • It is total world demand/supply that matters, not where individual local deals are done. When world demand exceeds world supply prices will go through the roof. With China and India and other developing countries growing in some cases by double digit percentages per annum, price spikes will happen as soon as excess capacity disappears.
    27 Jun 2012, 08:26 AM Reply Like
  • Consumption growth is slowing in China.


    Also, the Chinese economy, besides all its other problems, suffers from huge inefficiencies in its energy use to GDP; trivial improvements in technology and efficiency will diminish Chinese consumption growth and likely reverse it, just as is happening in the developed world.


    And don't expect the '3rd world' to pick up the slack - at the prices the developed world is willing to pay for energy the '3rd world' would rather go with renewables. And is.
    27 Jun 2012, 08:48 AM Reply Like
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