In a unbelievable presentation to the All Party Parliamentary Group on Peak Oil and Gas on 16th January BP's Special Economic Advisor Peter Davies (no other oil company was prepared to address this group) claimed that "there's a distinct possibility that global oil consumption could peak as a result of climate policies" -- in other words NOT because supply problems but because of a reduction in demand! If you believe that governments around the world are going all out to reduce oil demand and switch to renewables then perhaps you might believe this... Of course they are not...
The APPGOPO Press Release on this presentation, which links to a MP3 of the event, follows, this presentation is being discussed on the PowerSwitch forum:
http://www.powerswitch.org.uk/forum/viewtopic.php?t=6231
The APPGOPO Press Release on this presentation, which links to a MP3 of the event, follows, this presentation is being discussed on the PowerSwitch forum:
http://www.powerswitch.org.uk/forum/viewtopic.php?t=6231
APPGOPO 3 Press Release -- Friday, 18 January 2008
Press release - BP's View on Peak Oil (Meeting Jan 16 2008) - All Party Parliamentary Group on Peak Oil (APPGOPO)
London, 17th January 2008 - An all-party group of MPs last night heard that if global oil production peaks in coming decades it will be because of declining demand, not supply. "I believe there is a realistic possibility that world oil production will peak within the next generation as a result of peaking demand," BP Special Economic Advisor Peter Davies told the All Party Parliamentary Group on Peak Oil and Gas (APPGOPO). He added, "There's a distinct possibility that global oil consumption could peak as a result of climate policies."
Davies' optimism was challenged by former Shell & BP geologist Jeremy Leggett who suggested that the risk of an early peak in global oil production was much greater than BP believed. Also challenging BP's view, Chair of APPGOPO John Hemming MP said that the possibility of an early peak in global oil production should be taken seriously because of uncertainty about stated reserves in OPEC countries. Hemming described peak oil as a "live issue", and said that massive increases in stated OPEC reserves in the 1980s were not reliable.
Davies said that it was possible to boost oil production to 100 million barrels a day. This contrasts with the view of other industry figures such as the Chief Executive of Total, Christophe de Margerie, and ConocoPhillips Chief Executive, James Mulva, who have both recently suggested that it will be very hard to reach that level of production. Davies stated that given appropriate investment, 100 million barrels a day could be exceeded. "This is achievable in resource terms," Davies said, "but it does come down to how much investment is going to take place."
Listen to the full audio (80bm mp3, 1.5hours) of the event at the following link :
http://www.appgopo.org.uk/events/03_160108/APPGOPO_3.mp3
http://www.appgopo.org.uk/
Press release - BP's View on Peak Oil (Meeting Jan 16 2008) - All Party Parliamentary Group on Peak Oil (APPGOPO)
London, 17th January 2008 - An all-party group of MPs last night heard that if global oil production peaks in coming decades it will be because of declining demand, not supply. "I believe there is a realistic possibility that world oil production will peak within the next generation as a result of peaking demand," BP Special Economic Advisor Peter Davies told the All Party Parliamentary Group on Peak Oil and Gas (APPGOPO). He added, "There's a distinct possibility that global oil consumption could peak as a result of climate policies."
Davies' optimism was challenged by former Shell & BP geologist Jeremy Leggett who suggested that the risk of an early peak in global oil production was much greater than BP believed. Also challenging BP's view, Chair of APPGOPO John Hemming MP said that the possibility of an early peak in global oil production should be taken seriously because of uncertainty about stated reserves in OPEC countries. Hemming described peak oil as a "live issue", and said that massive increases in stated OPEC reserves in the 1980s were not reliable.
Davies said that it was possible to boost oil production to 100 million barrels a day. This contrasts with the view of other industry figures such as the Chief Executive of Total, Christophe de Margerie, and ConocoPhillips Chief Executive, James Mulva, who have both recently suggested that it will be very hard to reach that level of production. Davies stated that given appropriate investment, 100 million barrels a day could be exceeded. "This is achievable in resource terms," Davies said, "but it does come down to how much investment is going to take place."
Listen to the full audio (80bm mp3, 1.5hours) of the event at the following link :
http://www.appgopo.org.uk/events/03_160108/APPGOPO_3.mp3 http://www.appgopo.org.uk/
