Global Oil Production -- January 28, 2025

Locator: 48422OILPRODUCTION.

From visualizingenergy.org, today. This chart is from Boston University.

AI:

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A Shortage As Soon As 2012
DOD: Joint Operating Command
October 27, 2011

The US Department of Defense’s Joint Operating Command said in its biennial report that a world oil supply shortfall would pose a serious challenge to military preparedness, he said in an e-mail to OGJ. “They have said that as soon as 2012, total world oil production will begin to decline, and that there could be a 10 million bbl/day shortage by 2015,” he indicated. 

This was back when DOD was paying $126 / gallon for algae-produced aviation fuel. 

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Flashback from our own DOE, March 7, 2020, link here:

This is so incredibly cool. I first posted the note in the screenshot below on October 27, 2011, and then posted it again, with a tag to follow-up in December, 2020. It's a bit early, but with WTI dropping below $50/bbl, I thought this was as good a time as ever to post it again.

Link here. The tag, follow-up in December, 2020, will remain.

"... as soon as 2012, total world oil production [would] begin to decline, and .... there could be a 10-million-bbl/day shortage by 2015."