Leonardo Maugeri on world oil production capacity

The Coming Oil Boom
Reuters
August 9, 2012
Cited: Leonardo Maugeri, Roy Family Fellow with the Belfer Center’s Geopolitics of Energy Project
Topic: World oil production capacity

“‘The extraction technologies are not new,’ Mr. Maugeri explains in the report, ‘but the combination of technologies used to exploit shale and tight oils has evolved. The technology can also be used to reopen and recover more oil from conventional, established oilfields.’

Mr. Maugeri thinks the tipping point will be 2015. Until then, the oil market will be ‘highly volatile’ and ‘prone to extreme movements in opposite directions.’ But after 2015, Mr. Maugeri predicts a ‘glut of oil,’ which could lead to a fall, or even a ‘collapse,’ in prices.”

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