Posted by: energyblogwalter | May 10, 2006

Australian TV: Oil supplies set to decline

Transcript of TV program from an Australian perspective while also including other world issues. Broadcast May 8th, 2006



  1. nice mainstream article. just a note though that once again a delusional geologist is quoted as saying peak isn't until 2020 or so as we find potential oil.

    """DR ANDREW LATHAM, OIL GEOLOGIST: Broadly, most are agreed that the ultimate yet-to-find potential of the planet is still fairly large. We expect over the next couple of decades more than 10 billion barrels of oil-equivalent resource will be found in new fields. """

    Practically speaking, no new drilling is occurring anywhere. Please note therefore no new production is online today or coming online. You need lead-time to know what your supplies are going to be.  We no longer have this.  What are we to do with potential if we are in the dark in the next 5 years? Good example of industry thinking lacking practicality.

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