by Dennis Coyne
(note that an Open Thread has recently been published for Petroleum)
I expect World Fossil fuel output to peak in 2025. If the World economy continues to grow in the future, a gap between Energy produced from all sources (including non-fossil fuels) and the demand for Energy will grow over time. If the gap between energy demand and energy supply is not filled by growth in non-fossil fuel energy sources there must be lower demand for energy due to reduced economic growth rates.
by Dennis Coyne
I have attempted to correct the reported Texas output using the methodology provided by Dean. Usually Dean provides the spreadsheets and I simply reproduce his charts with a few comments. This month Dean may be on vacation or busy and I have not yet received his input. If I get his charts I will post them.
Dean uses the average of the correction factors from Jan 2014 to the present in order to reduce the month to month volatility of the correction factors. I tried several averaging methods (all data, 12 month average, 6 month average, and 3 month average) where for the x month average the most recent x months of correction factors were averaged.
The only method with a significant difference was the 3 month average, so I present the “corrected” output using Dean’s usual method and an “Alt (3 month)” alternative. The RRC data and the EIA estimate are also included for reference.
A new post on Texas output will be up soon. This thread is for non-Petroleum discussions and news.
Ron will be posting something soon on the ND Bakken. This thread is for non-petroleum comments. Thanks.
This thread is for comments related to oil and natural gas only. If a comment is not responded to I might move inappropriate comments to the non-petroleum thread. I reserve the right to delete comments that are off topic, I may or may not choose to do so.