13 reasons why oil industry will soon fail to supply enough for the world's demand

(extracted from sublime magazine, issue 7/2008)

1. Growing numbers of experts are warning of a premature peak in oil production
2. Old oilfields are showing that production can collapse unnexpectedly fast
3. The industry is discovering fewer & fewer giant oilfields, and those it does discover are pront to long delays between discovery & production
4. Resource nationalism is strangling growth prospects for the international oil companies to find more, or enhance production in existing reserves
5. Large portions of supposedly proven reserves may not be proven at all ... or even exist
6. The tar sands will not be able to plug the gap between supply & demand
7. The industry's infrastructure is laden with aging problems
8. The industry ins't investing enough to fix its problems
9. The industry has a huge human resources problems
10. When the peak oil cunch comes, all the indications are that key exporters may slow, or even shut off, the taps
11. Gas has problems of its own, and cannot come to the rescue
12. Many in the oil industry are in denial about the peak oil problem ... and they are not alone
13. Climate change sill increasingly squeeze the industry's options

For more details, read the magazine's full story.


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