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In this comprehensive analysis, Matthew R. Simmons defines the concept of Peak Oil, explaining how it is calculated on various levels—from individual fields to global aggregates. He highlights the challenges in methodology, the uncertainties surrounding future supply and demand, and issues like data secrecy among OPEC nations. Simmons also addresses the role of population growth and an expanding middle class in shaping future energy needs. Dive into the complexities of peak oil and the implications it holds for global energy dynamics in this insightful discussion.
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Simmons on Peaking Production What this means Matthew R. SimmonsSimmons and Company http://www.simmonsco-intl.com/research.aspx?Type=msspeeches
Video Interview with Simmons http://www.youtube.com/watch?v=MCSTCEUJmFI
Objectives • Defining Peak Oil as a concept • Showing how it is calculated • By field • Aggregate to country • Aggregate to world
Objectives • Note problems/issues with methodology • Future demand not a constant – population is growing as well as the global middle class • Future supply not fully known (possible new fields) • Field by field data mainly not available • OPEC nations don’t release data • And are suspected of cheating • Saudi Arabia has the biggest “proven reserves” and also keeps things “top secret”
http://www.simmonsco-intl.com/files/Capitol%20Hill%20-%20Depletion%20&%20Peak%20oil.pdfhttp://www.simmonsco-intl.com/files/Capitol%20Hill%20-%20Depletion%20&%20Peak%20oil.pdf
Latest Data from ASPO (Association for the Study of Peak Oil and Gas) • http://www.peakoil.net/