talking point | the blog at LeeHudsonTeslik.com

Discovering Not Much

Posted in Uncategorized by teslik on October 18, 2007

A graph I came across today:

PastDiscovery

The bar graph maps the discovery of crude oil reserves since the 1930s. The black line maps oil production/consumption. Now, the fact of declining oil discovery and rising production doesn’t in itself mean the world is running out of oil. A lot has already been discovered. But it does make for a potentially interesting shakeout between the parties with a natural or sovereign right to natural resources–countries–and the parties seeking access to them–oil companies. Of course, this is already well underway, with the kind of energy industry nationalizations that have taken place in Russia and Venezuela. But for the United States, this trend is now moving a lot closer to home.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: