Posted by: gautithor | 10. February, 2009

World oil production

An interesting take on the world oil consumption from our System Dynamics class at MIT. Here is a graph showing how oil consumption has been constantly growing but production has dropped off recently in non-OPEC. The general consensus seems to indicate that we have reach so called “peak oil”, or will do so soon.

 The future is downward sloping, but just a question how fast.

Looking at this in a more historic context, we see the problem a little bit better.

But the kicker is when we think of this issue in the correct context.

Historical world oil production

Anyone agree we need to think long and hard about how to solve our energy needs in the future?

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