|
COPYRIGHT 2005 Hart Publications, Inc.
In spite of many naysayers who proclaim that the world will run out of oil soon, global oil-production capacity will in fact increase sharply during the next 10 years, according to a new report by Cambridge Energy Research Associates (CERA).
Worldwide, capacity could increase by as much as 20%, or 16 million barrels per day.
Total OPEC daily liquids capacity is expected to reach 45.6 million barrels by 2010; and non-OPEC daily capacity will add 7.5 million, thanks to more contributions from Russia, the Caspian, Brazil, Angola and Canada.
Saudi Arabia's daily capacity may rise between 1.5- and 2 million barrels, while daily capacity in the U.S. is likely to fall from an expected 7.55 million barrels in 2005 to 7.15 million in 2010.
"North America is not the scene of large capacity growth out to 2010," says Robert Esser, director, global oil and gas resources....
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
