Posted by: Dr. Breffni Lennon | July 1, 2012

Was M. King Hubbert wrong about peak oil? Leonardo Maugeri seems to think so…

“We are living in a transformational age where energy efficiency legislation, climate change policies, technological advance, and the dissemination of energy alternatives will reduce the impact of oil in global economies” (Maugeri, 2012)

In a recent discussion paper, Harvard Kennedy School researcher Leonardo Maugeri, predicts a sharp increase in global oil production capacity, risking a potential price collapse as a consequence. Basing his findings on a field-by-field analysis of the world’s major oil deposits and new explorations, Maugeri projects that contrary to the general consensus oil production should in fact increase from the current 93 million barrels per day to 110 million barrels by 2020. Such a rapid leap in production apparently represents less than 40 percent of new oil production under development with the remainder likely reach the market after 2020. The majority of this surge will come from the exploitation of unconventional oils, which raises serious questions in relation to the Implications for the Environment and Greenhouse Gas Emissions.

His report can be accessed in full here.

Is he correct and where do you see the issue of anthropogenic climate change in relation to these projections? Share your opinions below.

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