Projections of Fossil Energy Reserves and Supply until 2050 (2100): Implications for Longer-term Energy Supply Security

Conditions of the world’s oil supply have entered into a new phase: increasing demand pressure, worries about the security of supply in important oil producing countries, speculative factors, but particularly, clear indications that limitations on the supply side have caused unexpected and high price increases. This chapter argues that the world oil production is nearing its peak.