This does not compute

re-posted from my blog - oilshockhorrorprobe

The International Energy Agency has again warned that the high oil price could strangle hopes for a global economic recovery. It also says that 90% of future growth in oil production has to come from the Mid-East, mostly from Saudi Arabia. Without a $100 billion annual investment in that region, oil prices will exceed $150 a barrel. But Saudi Arabia has just announced it is halting its $100 billion oil expansion program? This does not compute. » Read more

New Zealand Government's Oil Price Projections - A Bad Joke ?

Re- posted from my blog - oilshockhorrorprobe

The Ministry of Economic Development's oil price estimates are a very bad joke. It is a joke on all of us however, as their grossly optimistic projections underpin government policy not just for energy but for the broader economy. » Read more

IEA changes its mind on peak oil

Last week Kathryn Ryan interviewed Dr Fatih Birol on National radio.

This article has come across from my blog site

New Zealand Joins Peak Oil Club - IEA

re-posted from my blog - oilshockhorrorprobe » Read more

NZ's oil policy based on flawed forecasts

Independent oil experts have been saying for many years that the New Zealand government's almost religious reliance on forecasts of the International Energy Agency (IEA) is a big mistake because they have been consistently and grossly over optimistic. The result has been a decade of lost opportunities to prepare for the looming oil shocks and shortages. » Read more

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