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Commodities Briefing - Categorized | Energy, Oil more

IEA wrong to expect oil production growth to come from MENA

Posted on 21 October 2011

Recently, the International Energy Agency’s Chief Economist Fatih Birol was quoted as saying, In the next 10 years, more than 90% of the growth in global oil production needs to come from MENA [Middle East and North African] countries. There are major risks if this investment doesn’t come in a timely manner.
While I agree that we need more oil production, I think we are kidding ourselves if we expect that 90% of the needed growth in global oil production will come from MENA countries. In this post, I will explain seven reasons why I think we are kidding ourselves………………………………………..Full Article: Source


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VRS - who has written 45687 posts on Opalesque Commodities Briefing.


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