Tag Archive for 'oil supply'

North Sea crude oil extraction falls in 2011 to lowest level in 30 years

September 8th, 2012 by International Economic Platform for Renewable Energies

According to a study by the International Economic Platform for Renewable Energies (IWR), a renewable energy institute in Muenster, Germany, the amount of crude oil drilled from the North Sea dropped to 124.7 million tonnes in 2011. This is a 12% decline from 2010 when 140 million tonnes of crude oil was extracted, and represents […]

Global oil production can no longer keep up if demand continues to rise

January 27th, 2012 by Nature

The impact of dwindling oil supplies on the economy is a persuasive argument for shifting away from fossil fuels, write Professor James Murray and Sir David King in a Comment piece in Nature published on 26 January 2012. There was a ‘tipping point’ for oil in 2005. Before then,

Jeremy Gilbert, former chief petroleum engineer of BP, says Peak Oil has happened or is happening now

February 14th, 2011 by Richard Lord

Jeremy Gilbert, former Chief Petroleum Engineer for BP says “Peak Oil, I believe, probably is happening as we speak or has happened.” Jeremy Gilbert believes the technology is available to extract oil from remote and deep-sea locations but he doubts that the investment is available. “We are seeing fields which are more difficult to develop.  […]