{"id":5805,"date":"2015-06-17T15:40:59","date_gmt":"2015-06-17T14:40:59","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=5805"},"modified":"2015-06-17T15:40:59","modified_gmt":"2015-06-17T14:40:59","slug":"oil-and-gas-reserves-show-signs-of-peaking","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=5805","title":{"rendered":"oil and gas reserves show signs of peaking"},"content":{"rendered":"

Oil and gas reserves show signs of peaking.\u00a0 These are two of the first facts I noticed in the latest BP Statistical Review of World Energy (one of the big two energy data events of the year).\u00a0 In this post I will be looking at the stuff BP have not chosen to highlight.<\/p>\n

We have covered on this site before the possible peaking of gas reserves<\/a>, but not oil and gas reserves together.\u00a0 In 2014 the natural gas reserves increased very slightly by just 0.3%, this is just behind consumption, which increased by 0.4%.\u00a0 This time the oil reserves have also shown a fall (the first for many years).\u00a0 Its not huge one and all but invisible on the graph below (left hand graph).<\/p>\n

\"oilandgasdata\"<\/a>However, both the oil and gas reserves data are starting to look like a trend and that trend is the top of a peak.\u00a0 Of course the production fall lags a reserve fall.\u00a0 Peak oil theory suggests a 30 year lag at least on conventional oil.\u00a0 Things are more complicated than that.\u00a0 Unconventional oil and gas deplete much faster as we covered in our book<\/a>.\u00a0 In addition as the east to extract oil and gas disappear we are using more primary energy to extract the less easy stuff.\u00a0 Again we cover this in our book.\u00a0 It means we are using more and more energy to stand still and reserve data is probably much more flattering than it looks (although this also depends on demand).\u00a0 Its however telling even with oil and gas reserves being flattered by unconventional oil and gas the reserves look like they are peaking.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil and gas reserves show signs of peaking.\u00a0 These are two of the first facts I noticed in the latest BP Statistical Review of World Energy (one of the big two energy data events of the year).\u00a0 In this post … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[121,3],"tags":[122,57],"class_list":["post-5805","post","type-post","status-publish","format-standard","hentry","category-peak-gas","category-peak-oil","tag-oil-and-gas-reserves","tag-peak-oil-2"],"yoast_head":"\noil and gas reserves show signs of peaking - The oil lamp - shining God's light on peak oil<\/title>\n<meta name=\"description\" content=\"Oil and gas reserves show signs of peaking.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=5805\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=5805\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=5805\",\"name\":\"oil and gas reserves show signs of peaking - 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