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The Bigger Energy Picture

August 4th, 2013 · No Comments

A new Eos report by the American Geophysical Union, “Peak Oil and Energy Independence: Myth and Reality”, argues that global crude output has been stuck on a plateau of around 75m barrels per day (bpd) since 2005 despite enticing returns. “Global net oil exports from oil-exporting countries have peaked and are in decline.” The output of the big five oil majors – Exxon, BP, Total, Chevron and Shell – has fallen by 26pc over the past nine years

The bigger energy picture

Tags: Oil