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| Mideast to provide half of world's demand for oil |
| 2004-10-30 |
| Middle East producers are expected to provide half of the world demand for crude oil by 2030. A report by the International Energy Agency said Middle East members of OPEC would assume a larger role in oil supplies over the next 25 years. The agency said Middle East oil producers would be counted upon to fulfill most of the 59 percent increase expected in energy consumption by 2030, Middle East Newsline reported. In all, world energy demand would increase to 121 million barrels a day by 2030, the agency said in its annual study. OPEC's Middle East members were expected to provide half of the world's crude oil supply. This would mean an increase in Middle East oil output from the current 20 million to 52 million barrels a day by 2030. "As international trade [in oil] expands, risks will grow of a supply disruption at the critical chokepoints through which oil must flow," the agency said. |
| Posted by:Mark Espinola |
| #9 In 2030 there will be more alternatives, maybe Arabs will offer oil if we buy some stuff from them... |
| Posted by: Glereger Cligum6229 2004-10-30 5:20:48 AM |
| #8 Even the Greenies are coming round to nuclear power. What is this country waiting for? |
| Posted by: lex 2004-10-31 1:13:34 AM |
| #7 I've seen reports that Iraq should be capable of producing 6-8 mbd in a few years time. That still leaves a 25mbd hole to fill. There really is no alternative to building 100s of nuclear power stations. The only issue is how bad things will get before there is a general realization of this fact. And for the 500th time, fuel cells are not an energy source. They make the problem much worse, by putting an inefficient energy conversion process in the way of achieving the result. All other things being equal, changing all American cars to fuel cell technology would require at least a tripling of oil imports. |
| Posted by: phil_b 2004-10-31 1:12:58 AM |
| #6 Nuclear power. Now. |
| Posted by: lex 2004-10-31 1:09:16 AM |
| #5 When they complete the repair/modernization of the Iraqi oil fields, won't that come close to equalling current Saudi output? (Or maybe replacing it, if the princelings succeed in driving out all the foreign technical experts without producing indigenous ones.) |
| Posted by: trailing wife 2004-10-31 1:54:46 AM |
| #4 Simple solution: Build more dams and nukes for electricity, drill in Alaska and off the US shore, get fuel cells and other electrical technology into cars... = import less oil and natural gas. Of course, the Enviro lawyers and thier fearmongering PR flacks would never allow that to happen. When will we start laying the blame where it belongs: pointing the finger at the Enviros and thier lawyers and political allies as the reason why we have to stay involved with despots and third world morons who happen to have oil? |
| Posted by: OldSpook 2004-10-30 11:54:44 AM |
| #3 |
| Posted by: Mark Espinola 2004-10-30 7:42:32 AM |
| #2 "As international trade [in oil] expands, risks will grow of a supply disruption at the critical chokepoints through which oil must flow," the agency said. ...Which will result in speculation over "fears" and "concerns" that will drive the price ever higher. Crikes, I am so sick and tired of this crap. |
| Posted by: Bomb-a-rama 2004-10-30 4:01:57 AM |
| #1 20 million to 52 million barrels a day by 2030 Am I the only who thinks there is no chance of getting 50 mbd out of the gulf. SA will have to double/triple/quadruple its production. |
| Posted by: phil_b 2004-10-30 4:01:22 AM |