Oil Liquid Exports Have Peaked
The most recent newsletter of the Association for the Study of Peak Oil has compiled data on oil exports for all kinds of liquids for the last five years. This data includes conventional, heavy, and extra heavy oil, oil shale, oil sands, natural gas liquids, lease condensates, gas-to-liquids and biofuesl.
Exports peaked toward the end of 2005. Exports amounted to 46.3 mbd in 2004, 47.1 in 2005, and 47 mbd in 2006. Early data from 2007 also show exports running around 47 mbd.
Total production of oil liquids increased by nearly 1 mbd between 2005 and 2006, but increased demand in the exporting countries have put a cap on total exports.
Increasingly, the numbers show us at the peak. Looking ahead it is easy to see the downhill roller coaster ride approaching.