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May 26 / Jonathan

Oil: Caveat Empty

In the May/June issue of the Bulletin of the Atomic Scientists, Alfred J. Cavallo writes,

Without any press conferences, grand announcements, or hyperbolic advertising campaigns, the Exxon Mobil Corporation, one of the world’s largest publicly owned petroleum companies, has quietly joined the ranks of those who are predicting an impending plateau in non-OPEC oil production. Their report, The Outlook for Energy: A 2030 View, forecasts a peak in just five years.

Granted, that’s a “non-OPEC” peak; Exxon Mobil makes some rather optimistic (and, as Cavallo points out, unrealistic) assumptions about OPEC picking up the slack.

The Exxon Mobil report is online.

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