Quote:
Originally Posted by puckedoff
Global oil production faces massive annual declines just due to production curves, so Canadian oil will have a buyer well beyond 2036+ as the oil sands production is relatively constant.
Even if global oil demand has peaked, thats still 100+ million barrels per day that needs to come from somewhere, which may as well be Canada.
Edit: Annual production decline is about 6 million barrels/day annually without new projects, so this would just provide 1/6th of one year.
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My tinfoil hat theory is that Ghawar is going to decline faster than the Saudi's forecast. American's going hard after Venezuela, now Carney signing an agreement for anothr pipeline. All reactionary to a future supply issue. I got more tinfoil if you want a matching hat.