In a 400-page report on the Medium-Term Oil & Gas, the IEA mentions the Deepwater Horizon spill , but estimates at worst global production could be reduced by 550,000 barrels per day. That's assuming America's drilling moratorium sticks and new regulation spreads abroad -- which is starting to look unlikely .
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Big picture trends include a few more years of rising oil supply, with demand shifting to emerging markets. There's a steady shift to liquid natural gas and a slow move to renewables. Peak oil and demand pressure are looming -- but maybe not till the end of the decade. Hey, it's not our fault that you may have spent a lifetime in the field of petroleum enginerering, obtaining advanced degrees, working in the field for decades to get practical expertise, becoming one of the world's foremost gurus on fossil fuels, and all that rot, when instead all you really needed to do was spent 90 seconds skimming a one-page slideshow on Business Insider. That's YOUR fault, not ours.Read full article here
