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blizzak · 06-10-2005, 12:05 AM

Their increasing refining ability of being able to go up a couple million barrels a day does not seem to be very significant. I read the entire lifeaftertheoilcrash site and agree with most of the author's points. Even if production were to go to 15 million barrels per day, the world today requires somewhere in the order of 80 million barrels per day. Oil demand is only slated to go up as the population of the world does, and even with the marginal increase in saudi oil, I don't think it will be enough to fill the gap regardless of vast oil reserves.

Just my take on it. Only read that one site so I can't give a fully justified opinion. The numbers still don't seem to be favourable though.

06-10-2005, 12:05 AM	#3 (permalink)
blizzak Crazy	Their increasing refining ability of being able to go up a couple million barrels a day does not seem to be very significant. I read the entire lifeaftertheoilcrash site and agree with most of the author's points. Even if production were to go to 15 million barrels per day, the world today requires somewhere in the order of 80 million barrels per day. Oil demand is only slated to go up as the population of the world does, and even with the marginal increase in saudi oil, I don't think it will be enough to fill the gap regardless of vast oil reserves. Just my take on it. Only read that one site so I can't give a fully justified opinion. The numbers still don't seem to be favourable though. __________________ Fueled by oxytocin!