2012 November 16

The Master Resource Report  2012-11-16

There will be no report next Friday, November 23rd due to the Thanksgiving Holiday. I will need to recover from eating too much of my wife’s amazing pumpkin pie.

IEA’s World Energy Outlook 2012

Here is the video of Fatih Birol, IEA Chief Economist outlining the main points of the 2012 World Energy Outlook released on Monday. When anyone including the IEA is making a forecast it is worth remembering Yogi Berra’s views on predicting the future. “Prediction is very hard, especially about the future.”

It is equally important to remember that the IEA is not a petroleum geology organization, it is a political organization and its products will reflect that.