Wednesday, November 14, 2012
The future might be too bright to stare at, but back here in 2012, oil supply continues to look flat. There's been no significant upward trend since January. This is starting to feel a bit like the 2005-2007 plateau:
Note that this graphs above show three estimates of total liquid fuel production (and their average). "All liquids" includes natural gas liquids and biofuels as well as actual oil. Generally, the non-oil components have been accounting for most of the growth since the end of 2004.