Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Friday, June 12, 2015

Why EIA, IEA, and BP Oil Forecasts are Too High

Posted: 12 Jun 2015 05:44 AM PDT
When forecasting how much oil will be available in future years, a standard approach seems to be the following: 1. Figure out how much GDP growth the researcher hopes to have in the future. 2. “Work backward” to see how much oil is needed, based on how much oil was used for a given level of GDP in the past.read morehttp://theenergycollective.com/gail-tverberg/2238406/why-eia-iea-and-bp-oil-forecasts-are-too-high

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