Publications
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Author:
Aleklett, Kjell (Uppsala University, Disciplinary Domain of Science and Technology, Physics, Department of Physics and Astronomy, Global Energy Systems)
Höök, Mikael (Uppsala University, Disciplinary Domain of Science and Technology, Physics, Department of Physics and Astronomy, Global Energy Systems)
Jakobsson, Kristofer (Uppsala University, Disciplinary Domain of Science and Technology, Physics, Department of Physics and Astronomy, Global Energy Systems)
Lardelli, Michael (School of Molecular and Biomedical Science, University of Adelaide, Australia)
Snowden, Simon (Management School, University of Liverpool, United Kingdom)
Söderbergh, Bengt (Uppsala University, Disciplinary Domain of Science and Technology, Physics, Department of Physics and Astronomy, Global Energy Systems)
Title:
The Peak of the Oil Age: Analyzing the world oil production Reference Scenario in World Energy Outlook 2008
Department:
Uppsala University, Disciplinary Domain of Science and Technology, Physics, Department of Physics and Astronomy, Global Energy Systems
Publication type:
Article in journal (Refereed)
Language:
English
Place of publ.: Oxford Publisher: Elsevier Ltd
Status:
Published
In:
Energy Policy(ISSN 0301-4215)
Volume:
38
Issue:
3
Pages:
1398-1414
Year of publ.:
2010
URI:
urn:nbn:se:uu:diva-112219
Permanent link:
http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-112219
ISI:
000274500000019
Subject category:
Physical Sciences
Environmental Analysis and Construction Information Technology
Other Earth and Related Environmental Sciences
SVEP category:
Physics
Physical planning
Other earth sciences
Research subject:
Physics with specialization in Global Energy Resources
Keywords(en) :
Future oil supply, Peak oil, World Energy Outlook 2008
Abstract(en) :

The assessment of future global oil production presented in the IEA’s World Energy Outlook 2008 (WEO 2008) is divided in to 6 fractions; four relate to crude oil, one to non-conventional oil, and the final fraction is natural-gas-liquids (NGL). Using the production parameter, depletion-rate-of-recoverable- resources, we have analyzed the four crude oil fractions and found that the 75 Mb/d of crude oil production forecast for year 2030 appears significantly overstated, and is more likely to be in the region of 55 Mb/d. Moreover, an alysis of the other fractions strongly suggests lower than expected production levels. In total, our analysis points to a world oil supply in 2030 of 75Mb/d, some 26 Mb/d lower than the IEA predicts. The connection between economic growth and energy use is fundamental in the IEA’s present modeling approach. Since our forecast sees little chance of a significant increase in global oil production, our findings suggest that the ‘‘policy makers, investors and end users’’ to whom WEO 2008 is addressed should rethink their future plans for economic growth. The fact that global oil production has very probably passed its maximum implies that we have reached the Peak of the Oil Age.

Available from:
2010-01-11
Created:
2010-01-11
Last updated:
2011-11-23
Statistics:
414 hits