Global oil, gas outlook bright; US gas production nears plateau

11/27/2006
Data for liquids presented in this article suggest that global crude oil, natural gas liquids (NGL), and Alberta oil sands production will plateau at above 118 million b/d and productive capacity at 123 million b/d in 2031-far later than current alarmist predictions-even without the likely development of tar sands and other bitumens and extra-heavy crude.Unfortunately there are no reliable data on total recoverable global natural gas resources and of cumulative production, which are required to estimate the time and quantity of peak gas production.Nevertheless, the global natural gas outlook is also quite bright, with Jan. 1, 2006, proved reserves of 6,112 tcf, and total 2003 global consu...
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