Reply #10: News appears to be starting to leak out. [View All]

[JohnyCanuck]

I just came across and account in a Barbados newspaper of an upcoming energy meeting in the Caribbean to discuss regional energy security and energy investments. The article briefly mentioned a possible oil production peak within 20 years (almost in passing and as if it was of no momentous significance). However, I take it as just one more sign that people are sitting up and starting to take notice.

BARBADIAN officials are scheduled to join counterparts from the Caribbean, North, Central and South American in Tobago for a major energy meeting next week.

<snip>

Noting that the energy ministers would hold discussions in Tobago with several executives of private companies, Williams explained that there would be “a closed door ministerial meeting” during which focus will be placed on how to deal with energy disruptions, energy diversification and how to correct imbalances that currently exist in some areas of the energy sector.

<snip>

Looking into the future of the world energy industry, Williams noted that “there is a prediction that there will be a peak in oil production somewhere between now and 2020.” (my emphasis /jc)

<snip>

Addressing the issue of developing sufficient supplies to meet demand, Williams said that “when you are on the upswing, oil is easier to find and it is less expensive to find. When you are on the downswing, it is harder to find and more expensive to find. And there is a prediction that globally that is what we are going to experience”.

Tobago Energy Meeting from The Barbados Advocate, Friday April 16.