TOTAL’s view on future oil production

[4dsc]

Since 2006, the international oil company TOTAL has consistently voiced warnings about the future inability of the oil industry to meet continued oil demand growth. In 2006, then CEO Thierry Desmarest stated that maximum oil production lies between 100 to 110 million b/d, reached potentially by 2020. Only a year later the new CEO Christophe de Margerie announced that it would be difficult for the industry to produce beyond 100 million b/d, a message that became and remained 95 million b/d in subsequent years (1), (2), (3), (4). To better understand how TOTAL arrives at this view, the organizers of the 9th international ASPO conference asked the company to give a presentation on why they expect a plateau in production around 95 million b/d.

http://www.theoildrum.com/node/8001

Good read.

[Mojorabbit]

1. This will be along with climate change

our biggest hurdles in the next few decades.

[Alexr]

2. Not to be sad

The only question is how to reduce the dependence on oil? As for me this graph is just a very news for innovation and our economies.

[GliderGuider]

3. I see you're new to all this...

a) Welcome to DU! :hi:
b) Stick around, we'll fix that rash optimism for you in no time at all. :evilgrin:

[Kolesar]

4. The problem lies in turning these into reserves due to the need for advanced technology, large scale

... investments, and a lack of resource accessibility of international oil majors.

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The more technical projects, including enhanced oil recovery and extra heavy oil, require an oil price range between 60 to 90 dollars to give a decent return.
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"Next time you start a war for oil...get some oil" --Bill Maher