The 8 most disruptive events of 2012: oil production to explode

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For Saudi Arabia, 2012 marked a year of growing apprehension as a frightening trend emerged: that by the end of the decade, according to mid-range forecasts, two new hyper-producers—Iraq and the US—will be pumping some 14 million barrels of oil a day, a 58% jump from today’s production levels. And that’s not even counting Iran, which is also likely to have resumed full-tilt production, churning out 4 million barrels per day (bpd), an increase of 1.3 million bpd from current production….”

Gerd comments

This spells the end of the idea of ever lowering emissions to the 350 ppm standard – more oil and natural gas, at lower prices, will have the opposite effect. A frightening thought. December 21, 2012 at 08:16AM

TFA Team

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