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"The image below this post comes from the latest IMF working paper (May 2012) looking at the "The Future of Oil: Geology versus Technology" (opens pdf) which attempts to take both the models of oil availability - that proposed by geologists and that by technologists and work out what the likely price implications are going to be to 2020. An internal working paper that "does not presume that there is a constraint on how much oil can be taken out of the ground. It prefers to believe that extraction rates will depend on the price that will be able to be charged for the final product", it makes the wonderfully understated point that "the future may not be easy". I continue to be amazed at the number of people I meet, sitting in leadership positions, who are unaware of this issue. I have heard from colleagues of engagements in the past couple of years with groups of senior decision-makers who have refused to discuss the issue as they believe it to be a fringe problem."

The image below this post comes from the latest IMF working paper (May 2012) looking at the "The Future of Oil: Geology versus Technology" (opens pdf) which attempts to take both the models of oil availability - that proposed by geologists and that by technologists and work out what the likely price implications are going to be to 2020. An internal working paper that "does not presume that there is a constraint on how much oil can be taken out of the ground. It prefers to believe that extraction rates will depend on the price that will be able to be charged for the final product", it makes the wonderfully understated point that "the future may not be easy". I continue to be amazed at the number of people I meet, sitting in leadership positions, who are unaware of this issue. I have heard from colleagues of engagements in the past couple of years with groups of senior decision-makers who have refused to discuss the issue as they believe it to be a fringe problem.

"The world's largest emerging economies on Tuesday slammed Europe's push to lock up the International Monetary Fund's top job, calling its hold on the managing director position "obsolete.""