The history of oil as a fuel has been that of new technologies and finds outrunning usage since Drake drilled the first well in 1950. It’s amazing to me how anybody would have believed that without severe government intervention, that would change.
What Happened to the Great 2005 Peak Oil Collapse?
Peak Oil Searches Crash and Burn
… interest in the old concern of ‘Peak Oil’ has all but disappeared after the surge in focus on this during the mid-2000s,” Oswald Clint and Mark Tabrett, Bernstein analysts, wrote in a note … __ Bloomberg Source
The rapid growth in North American oil production leading to the global oil glut, has dominated public concerns about oil for the past few years. Oil surpluses are likely to continue to dominate oil markets through next year — according to the IEAs latest forecast — and likely for many years to come.
US Oil Reserve Growth
Global demand growth is slowing at a faster pace than the group initially predicted. The IEA left its forecast for demand growth for 2017 unchanged from its prediction in June at 1.2 million barrels per day, but…
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