List of Oil Megaprojects as a Google Spreadsheet

I've started a spreadsheet copy of the Wikipedia oil megaprojects database. All the original data has been transferred (see below the fold) except for links that I may add in the coming days. I think a Google spreadsheet is much more appropriate than Wikipedia tables for manipulating data and exports in various formats. If anyone is interested, just send me an email for an invite.

Daniel Yergin massively reduced his energy estimates

by Jeffrey J. Brown 

Originally posted on the EnergyBulletin.

If one can’t rely on Daniel Yergin for soothing reassurances about the state of the global oil market, who you gonna call?

Daniel Yergin and his associates at Cambridge Energy Research Associates (CERA) have consistently been predicting a 20% to 25% increase in global total liquids production (which consists of crude oil, condensate, natural gas liquids, refinery gains and other liquids such as low net energy biofuels). Technically, they attempt to hedge by stating that they are talking about productive “Capacity,” but it’s clear that they have been predicting a robust increase in global liquids production.

Impact of the Release of the US Strategic Petroleum Reserve

In an unprecedented move, the IEA announced on June 23 the release of 60 millions barrels of petroleum products including 30 million barrels of crude oil from the US Strategic Petroleum Reserve (SPR) supposedly to compensate for the loss of the Libyan production. The basic idea is to "shock" the oil market and further lower prices by adding 2 million barrels per day over a period of 30 days. The last time such action was taken was after hurricane Katrina in 2005 and during the first Iraq conflict in 1990-91. Already, prices have dropped by about $3 since June 22, more below the fold.

Update on JODI

On June 18, the JODI database releasead their new numbers therefore I'm updating some of the charts I've published on TOD. The update is for the month of March which is the last month available from the EIA.

Saudi Arabia in One Chart

This chart is not for the faint of heart (100= 1981 value).

Crude Oil and Liquids Capacity Additions: 2011-2015

This is a crosspost from The Oil Drum.

This analysis is designed to demonstrate why we believe that productive capacity relative to consumption will be sufficiently tight over the next several years to elevate crude prices to the investment cost of the marginal unit, about $100 per barrel. In fact, if annual non-OECD demand continues to grow at 3.5 percent or 1.4 Mb/d per annum, we expect another episode of deficit comparative inventory that will elevate spot prices above this mid-cycle price.

Global Temperatures

Last Update: 01-18-2010

Below is a chart that some may find useful. It combines various global temperature estimates:

• HadCRU3v: measurements from land stations + SST, starts in 1850, the reference period is 1961-1990. data link.
• NASA GISS: measurements from land stations + SST, starts in 1880, the reference period is 1951-1980. data link.
• NCDC: measurements from land stations + SST starts in 1880, the reference period is 1951-1980. data link.
• UAH versions 5.2: satellite based measurements of the lower troposphere, starts in 1979, the reference period is 1979-2000. data available here.