A Regional Oil Extraction and Consumption Model. Part II: Predicting the Declines in Regional Oil Consumption

Michael Dittmar ()
Additional contact information
Michael Dittmar: ETH

Biophysical Economics and Resource Quality, 2017, vol. 2, issue 4, 1-19

Abstract: Abstract In Part I of this analysis, the striking similarities of the declining oil production in the North Sea, Indonesia and Mexico were used to model the future maximum possible oil production per annum in all larger countries and regions of the planet from 2015 to 2050. In Part II, the oil export and oil consumption patterns, that were established in recent decades, are combined with the consequences of the forecast declines in regional oil production that were developed in Part I of this analysis. The results are quantitative predictions of the maximum possible region-by-region oil consumption during the next 20 years. The predictions indicate that several of the larger oil consuming and importing countries and regions will be confronted with the economic consequences of the onset of the world’s final oil supply crisis as early as 2020. In particular, during the next few years a reduction of the average per capita oil consumption of about 5%/year is predicted for most OECD countries in Western Europe, and slightly smaller reductions, about 2–3%/year, is predicted for all other oil importing countries and regions. The consequences of the predicted oil supply crisis are thoroughly at odds with business-as-usual, never-ending-global-growth predictions of oil production and consumption.

Keywords: After the oil peak; Regional oil production and consumption; Oil consumption growth; GDP growth; Future oil consumption limits (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://link.springer.com/10.1007/s41247-017-0032-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:bioerq:v:2:y:2017:i:4:d:10.1007_s41247-017-0032-1

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/41247

DOI: 10.1007/s41247-017-0032-1

Access Statistics for this article

Biophysical Economics and Resource Quality is currently edited by C.A.S. Hall and U. Bardi

More articles in Biophysical Economics and Resource Quality from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().