Dr. Peter Wells, oil analyst sees OPEC peaking around 2020
Toyota Motor Corp. turned to Dr. Peter Wells to help them understand peak oil. He concludes non-OPEC oil producers peaked in 2008, while OPEC nations will peak in their oil production around 2020.

The Last Trillion Barrels

Non-OPEC oil production has peaked and OPEC production will follow around 2020, concludes Dr. Peter Wells.

By EV World

The presentation you are about to view took some three years to compile from multiple sources, including governmental and non-governmental, according to Dr. Peter Wells, a world-recognized oil industry analyst who lives and works in Dubai.

It is to Dr. Wells and his group of petroleum geologists Toyota Motor Corporation has turned to help the giant Japanese carmaker better understand how much oil remains beneath the crust of the Earth. That information is vital in corporate and product planning because it helps set a time line for when the company will have to develop vehicles that use energy sources other than petroleum, as it becomes increasingly hard to find and expensive to produce.

Toyota is sufficiently concerned about what they've learned that they brought Dr. Wells, his wife, and other recognized experts to Portland, Oregon to talk with selected journalists, including EV World's publisher and editor in chief, Bill Moore, about the factors that are driving Toyota's quest to develop sustainable transportation systems.

Dr. Wells' accompanying PowerPoint slides are available for download in PDF format.

Not coincidentally, Toyota announced that it would be displaying a compressed natural gas Camry Hybrid at the upcoming Los Angeles Auto Show, clearly in response to not only Dr. Wells' projections, but also Boone Pickens' aggressive initiative to promote wind, solar and natural gas. Toyota briefly offered a CNG Camry in 1999 and subsequently ceased production due to low sales, as did Ford and Chrysler. Only Honda continued to produce the Civic GX, currently the only production CNG vehicle available in North America.

Expect the other carmakers to also revive their CNG programs, in part because of the projected relative abundance of natural gas in North America, as revealed recently by T. Boone Pickens during his town hall meeting in Lincoln, Nebraska. However, a serious lack of refueling infrastructure will continue to slow deployment of the vehicles. which is certainly why Clean Energy just acquired FuelMaker from Honda. The founder of Clean Energy is, you guessed it, T. Boone Pickens. No one ever said this guy was dumb.

Times Article Viewed: 8011
Published: 27-Sep-2008


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