by John Daly, Oil Price:
The two most hotly debated scientific concepts associated with energy
are “global warming” and “peak oil,” both with myriad proponents and
detractors around the world.
In the latter case however, what is indisputable is that the last several decades have seen major fields in significant oil exporting nations decline. From Saudi Arabia’s Ghawar superfield through the Russian Federation’s vast west Siberian field to Indonesia, oil output has spiked, and, in the case of Indonesia, it left the Organization of the Petroleum Exporting Countries in 2009 because it ceased to be a net exporter of oil. For those with a sense of history Indonesia, then the Dutch East Indies, was a major factor in the outbreak of world War Two in the Pacific, as the Japanese in late 1941 determined to seize the oil-rich archipelago in response to a U.S. oil embargo imposed earlier that year.
Read More @ OilPrice.com
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The two most hotly debated scientific concepts associated with energy
are “global warming” and “peak oil,” both with myriad proponents and
detractors around the world.In the latter case however, what is indisputable is that the last several decades have seen major fields in significant oil exporting nations decline. From Saudi Arabia’s Ghawar superfield through the Russian Federation’s vast west Siberian field to Indonesia, oil output has spiked, and, in the case of Indonesia, it left the Organization of the Petroleum Exporting Countries in 2009 because it ceased to be a net exporter of oil. For those with a sense of history Indonesia, then the Dutch East Indies, was a major factor in the outbreak of world War Two in the Pacific, as the Japanese in late 1941 determined to seize the oil-rich archipelago in response to a U.S. oil embargo imposed earlier that year.
Read More @ OilPrice.com
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