Down scaling from 116 Mbpd to 100 Mbpd is a first step of three that IEA must take when it comes to oil production in 2030.

Energy Watchdog Warns Of Oil-Production Crunch

The world's premier energy monitor is preparing a sharp downward revision of its oil-supply forecast, a shift that reflects deepening pessimism over whether oil companies can keep abreast of booming demand. … (read more in WSJ)

ASPO-China held a conference on peak oil and energy problem on the May 18th, 2008. Experts of government, oil companies and academy shared their opinions on China’s energy problems. Although peak oil is gradually accepted in China, many experts of government and oil companies deny it. These all proved that different opinions still existed in China.

This conference provided a chance for discussion on peak oil. It’s emceed by ASPO-China’s secretary Feng Lianyong. ASPO-China’s vice precident Pang Xiongqi also took part in this conference and gave a report.

More information from: ASPO China

This is the link to the CNBC storry.

http://youtube.com/watch?v=IWGsnW_NnxE

Today the oil price surged above 130 dollars/barrel after a new report from EIA reinvigorating fears of a worsening supply crunch.

US Energy Secretary Sam Bodman said that there was nothing the government could do to ease the pain of soaring fuel prices for consumers and added that a rise in speculative investment in commodities was not behind the rally. He also stated the following:

"We have flat (oil) production ... and increasing demand. I don't think anything can be done near term"

Read more from: here

On Friday president of ASPO Kjell Aleklett was invited to write a comment to the article “The market sets high oil prices to tell us what to do” in Financial Times by Martin Wolf and you can now read in on FT.com. (Read the comment).

The blog text is written in Swedish but some of the blogs will be translated to English by Michael Lardelli, who lives in Adelaide, Australia. Michael has lived in Sweden for some years. The English text will follow the Swedish text in the blog.

The blog: Aleklett's Energy Mix

Today I got the OPEC Annual Report 2007 in the mail box (old fashion mail box) and I concluded that this is a report that most persons don’t care about. But the fact is that we should do that as we al depend on OPEC in one way or the other. In the foreword Abdalla Salem El-Badri, Secretary General tell us that the problem we see is just problem with the US dollar, geopolitical tensions, etc:

For more than a decade, English petroleum geologist Colin Campbell has been sounding the warning bell about the coming of peak oil and its disturbing ramifications for the world. .......

Read editorial in Washington Times

Fatih Birol, the chief economist of International Energy Agency, was interview in the german magazine Internationale Politik recently. He made several interesting. The most intriguing is perhaps his new motto: "Leave oil before it leaves us"

Some other statements were these
"We see a sharp decline in production from the existing oil fields, especially in the North Sea, the USA and many non-OPEC countries."

"Exactly 12.5 million barrel a day are still missing, about 15 % of the global oil demand. This gap means that we could face a supply shortage and very high prices during the next years."

"I think we should leave oil before it leaves us. That should be our motto."

Read the original interview: Internationale Politik (In german)
Or a english translation: Newsvine

The Scottish Parliament recently passed a landmark motion on food security which includes for the first time a call to take account of peak oil when planning our future food economy.

Some of the interesting facts that were pointed out were these:

• North Sea oil output peaked at 2.8m barrels a day in 1999, and last year this output was down by almost 60% on that peak.
• Estimates vary as to when global oil production will peak, with the French Government taking a conservative view that the decline will begin in 2013.
• What is not in doubt is that demand for oil continues to outstrip global supply, meaning that local disputes like that at Grangemouth have a disproportionate effect on international oil prices, whilst pressure for biofuels is undermining efforts to tackle climate change.
• As oil supplies dwindle globally, food supplies in Scotland and around the world are likely to be seriously affected, given the extent to which modern agriculture is dependent on oil.

More information can be found here: Scottish Greens