Economics Essay Example | Topics and Well Written Essays - 1750 words - 4

Economics - Essay ExampleSince they still see strong demand growth from China and separate developing nations, OECD takes the hitUnfortunately the IEA does not present this oil side in a figure, however the one below for total primary ability demand gives us a good impression. China, India and the rest of the non-OECD land keep growing their consumption (IEA forecast, not mine), while OECD is all but flatlining.For oil, the situation is worse. OECD sh are of available oil is constrained so much that it declines. The details for primary oil demand alone are in Table 1.3. The gunpoint for OECD demand was in the period 2000-2008 and declines by 0.3% per year to 2030.Its also significant that in their report they say Non-OPEC oil supply declines from 2010. So all those arguments astir(predicate) technology, increasing recovery, a new Middle East in the Arctic... all amount to nothing at least in the entire Non-OPEC part of the world where all those clever western oil companies do t heir business.All the peak oil analysis that youve read here still suggests that the IEAs forecast is too optimistic, for some(prenominal) OPEC and Non-OPEC parts of the world. And the IEA whistleblower also claims that their forecasts are inflated. But a peak is still a peak, and the IEA now says that OECD oil demand is in decline and volition not recover the levels prior to the financial crisis.This seems to me like a dramatic statement for the IEA to make. This official forecast from the agency representing OECD nations, now conflicts with just about each one of its individual members own forecasts (and that of just about every private enterprise). To convince decision makers of the inevitable oil decline facing us, we no monthlong need to refer to the online analysis by peak oil bloggers. You can simply tell your president, chief, boss and your neighbour The IEA says our oil consumption is going down, what are you going to do about it?As a footnote, it appears that the IEA i s in good company with their updated forecast.