Global oil depletion: A review of the evidence
AbstractWithin the polarised and contentious debate over future oil supply a growing number of commentators are forecasting a near term peak and subsequent decline in production. But although liquid fuels form the foundation of modern industrial economies, the growing debate on 'peak oil' has relatively little influence on energy and climate policy. With this in mind, the UK Energy Research Centre (UKERC) has conducted an independent, thorough and systematic review of the evidence, with the aim of establishing the current state of knowledge, identifying key uncertainties and improving consensus. The study focuses upon the physical depletion of conventional oil in the period to 2030 and includes an in-depth literature review, analysis of industry databases and a detailed comparison of global supply forecasts. This Communication summarises the main findings of the UKERC study. A key conclusion is that a peak of conventional oil production before 2030 appears likely and there is a significant risk of a peak before 2020.
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Bibliographic InfoArticle provided by Elsevier in its journal Energy Policy.
Volume (Year): 38 (2010)
Issue (Month): 9 (September)
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Web page: http://www.elsevier.com/locate/enpol
Depletion Peak oil Oil supply forecasting;
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- ¿Asistimos al final de la era del petróleo barato?
by Baltasar Manzano in Economics for Energy on 2012-01-26 16:55:00
- Robert J. Brecha, 2013. "Ten Reasons to Take Peak Oil Seriously," Sustainability, MDPI, Open Access Journal, vol. 5(2), pages 664-694, February.
- Dale, Michael & Krumdieck, Susan & Bodger, Pat, 2011. "Net energy yield from production of conventional oil," Energy Policy, Elsevier, vol. 39(11), pages 7095-7102.
- Fantazzini, Dean & Hook, Mikael & Angelantoni, André, 2011.
"Global oil risks in the early 21st century,"
33825, University Library of Munich, Germany.
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