Kill all the “peak oil” talk, and hopefully the idea of even more painful prices at the pump. According to the Belfer Center’s Geopolitics of Energy Project, we still have a little wiggle room left with recent findings. I’m already familiar with the massive deposits Brazil found — the way they’ve handle the foreign direct investment in these oil projects has me feeling more optimistic about their growth than any country not named China or India. Angola and a couple of other African countries have managed to stumble upon a couple of fields as well. I always wondered what type of lifespan we’re looking at in these new-found oil black gold mines and it looks like the project just might have the answer and them some. From the research update,
1) field-by-field analysis of all projects underway in the most relevant countries in terms of production growth to 2020; 2) oil depletion rates, as calculated by several, influential sources; 3) the oil price-level and the other most relevant factors (geopolitics, political decisions, etc.) that may affect production growth in this decade. Moreover, a special, detailed focus is devoted to assess the geological, economic, and technical realities which support the development of U.S. shale oil, that may represent the biggest new oil frontier in many decades and a real “paradigm-changer”. The results of this research will later be analyzed in terms of potential impact on the oil market, oil geopolitics, other energy sources, and environmental/climate change public policies
Sounds good to me. I’ll definitely be keeping an eye out for this.