Oil Resources (Estimates)
Year of Peak Oil Production (Scenarios)
What Might Change the Estimated Time of Peak Production?
1. A version of this presentation was originally given by former EIA Administrator Jay Hakes at the American Association of Petroleum Geologists on April 18, 2000, in New Orleans, Louisiana.
2. The presentation illustrates the effects of resource and production assumptions on the timing of world conventional oil production and offers a range of EIA scenario estimates on when the production peak might occur.
3. The conventional oil resource base is defined as “all oil produced from reservoirs through a wellbore using any primary, secondary, improved, enhanced or tertiary method. It does not include liquids from mined deposits (tar sands, oil shales) or created liquids (gas-to-liquids, coal oil). Canadian and Venezuelan heavy oil and tar sands and similar deposits are also excluded.”