I thank all for the overwhelming feedback on my previous article Burning Oil : Geo-politics of the war against Iran. While the article would have probably raised the level of concern about how the Iran situation will pan out, I guarantee that the few slides in this presentation – World crude oil – Drops left in the ocean – will simply blow your mind away.It will make you think real hard about how we have abused mother earth and IT IS TIME that as responsible earthlings would do our bit to provide future generations with cheap oil.
Just to drive home the point, I would like to point out that the World oil demand is growing at @ 1.2% p.a. in line with population growth, while oil supply is declining at an astounding 4-5% every year. This is despite new oil discoveries coming on stream. What it means is that we would have to find two Saudi Arabia production sized discoveries every year just to maintain status quo. This is extremely unlikely as no new major oil discovery of a large size has been reported in the last forty years . Spiralling prices are virtually guaranteed, though the pace may vary in line with recessionary periods and boom times.
The presentation titled World Crude Oil – drops left in the ocean is a humble effort to bring to your attention the acute shortages that plague us.
||Vinit Bolinjkar Head of Research, Ventura Securities Ltd
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