Its Not Just Global Warming, We Have To Deal With Peak Oil Too!

[shastarSingh]

http://www.maritime-executive.com/editorials/oil-demand-is-not-going-to-slow-down

Most forecasters predict consumption will grow by another 1.5 million bpd in 2016 and a similar amount in 2017, which would make it the strongest sustained period of growth since 2004-2006.

Oil consumption in the advanced industrial economies that are members of the Organisation for Economic Cooperation and Development (OECD) peaked at 50 million bpd as far back as 2005.

TOP OIL CONSUMERS

In 2013, non-OECD countries consumed more oil than the advanced economies for the first time and there is no sign that consumption growth is slowing, let alone peaking, in the non-OECD economies (tmsnrt.rs/28L6Cj1).

OECD countries that have reported steep declines in consumption over the last decade include the United States (-1.4 million bpd), Japan (-1.2 million bpd), Germany (-0.3 million bpd), France (-0.3 million bpd) and Britain (-0.3 million bpd).

But this has been more than offset by rapid growth from non-OECD countries including China (+5.1 million bpd), India (+1.6 million bpd), Saudi Arabia (+1.7 million bpd) and Brazil (+1.0 million bpd).

As a result, 10 of the 20 oil-consuming countries in the world are now outside the OECD (tmsnrt.rs/28L6qjX).

[shastarSingh]

http://www.fastcoexist.com/3060908/the-world-is-nearing-peak-fossil-fuels-especially-the-developed-world

The World Is Nearing Peak Fossil Fuels (Especially The Developed World)