A Core-Gap map that's all about the oil
Wednesday, September 29, 2004 at 7:03PM ■"Efforts to Reduce U.S. Addiction to Oil Are Few," by Jeffrey Ball, Wall Street Journal, 28 September 2004, p. A8.
Accompanying this rather standard article is an interesting map showing a variety of views of the global oil market and how it changes between now and 2020.
Some great points are made: First, global oil demand rises from 82 million barrels a day today to 104 by 2020. Guess how much North America accounts for in that growth? Less than 10% (roughly 2 of 22 mbd). Europe's total doesn't grow at all. So where's it mostly coming from? From emerging markets. India and China alone will account for almost a quarter of the growth. Not surprisingly, the net production of both countries will decline quite a bit over the next coming years, meaning they join the rest of the Core (save Russia, Norway, Mexico, Canada and the UK) in becoming increasingly dependent on the dreaded "foreign oil."
The map shows all the oil producers considered to be "high risk." Naturally, they virtually lie inside my Gap.
Reader Comments