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118 comments on Peak oil: BP, Conoco CEOs say it's here - also IEA's Fatih Birol really freaks out

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BobCousins on November 11, 2007 - 1:07pm Permalink | Subthread | Parent | Comments top

Did they use the word miracle? No.

You are still reading what you want to hear, not what they said.

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Jerome a Paris on November 11, 2007 - 4:51pm Permalink | Subthread | Parent | Comments top

Well, he does say that existing production will decline by 25mb/d by 2015, and will be replaced by 25 mb/d if all goes well:

And these are projects which are financially sanctioned projects. *If* they all see the light of the day *in a timely manner*, they will come up about 25 million barrels per day. So, 37.5 mlillion on the one hand, what is needed, and what we expect is 25 million barrels per day, and this is *in the case of no slippages, no delays in the projects*, and *everything goes on time, which is very rare*.

Lots of conditions for production just to remain flat... Fine, I said "miracle", but it's not really a stretch from his words.

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