IPFS News Link • Oil
"2025 Is When The World Will Be Short Of Oil":
• Zero HedgeBy Charles Kennedy of OilPrice.com
The ratio of discovered resources versus demand has dropped in recent decades and is now at around 25%.
Oxy CEO Hollub: "2025 and beyond is when the world is going to be short of oil.".
Oil industry executives have been warning that new resources, new investments, and new supply will be needed just to maintain the current supply levels as older fields mature.
The world would find itself short of oil from 2025 onwards as exploration for longer-producing crude reserves is set to lag demand growth, Vicki Hollub, chief executive of Occidental Petroleum, said at the Davos forum on Tuesday.
Watch Streaming Broadcast Live:
LRN.fm
DLive
Live Chat
Telegram
Telegram
1 Comments in Response to "2025 Is When The World Will Be Short Of Oil":
I looks like Zero Hedge bans those they disagree with. I don't know what I said to be made unable to log in. Or if I am making some kind of mistake. They won't let me log in though I go there from a link in my mail box THEY send. Is ZH trying to push me to a paid subscription that I cannot afford? I reset my password twice. What I wanted to post in comments is that oil is not from fossils & is renewable in nature. Oh well. They are not the only act in town. https://canadafreepress.com/article/oil-is-not-a-fossil-fuel-and-agw-is-non-science Sam in AZ