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Tuesday, August 29, 2006

North Sea Update

Oil production from the UK North Sea continues to plummet:
Oil production growth was down 4 per cent compared with May at 1,411,961 barrels per day (bpd) and down 13 per cent on the same month last year.
From last year's oil shock model for UK North Sea, I added an additional data point (green star):

No sign of new discoveries either.


Professor Blogger Robert McLeod said...

"The bank described as a "conundrum" the fact that higher investment spending over the last year has not resulted in measurable output growth."

Ouah! Never a good idea to let economists around energy. Great article.

7:21 PM  

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