|
|
|
|
|
|
|
|
|
|
Talking Point: |
As shown by AAPG Past President Pete Rose in the Explorer, oil prices surged from $12 in 1998 to a peak over $67 in Sept 2005, up 500% in 7 years. Dr. Rose is a recognized industry expert in exploration risk and economic return, and he assembled this graph to put the recent upswing into perspective. Actual prices are shown in blue, and inflation adjusted prices are in red. Dr. Rose’s statistical analysis of these data shows an average price of $34/bbl and a P50 (50% probability) of $30/bbl. But the past is not always a reliable guide for the future, so we will next look at some estimates of remaining world resources and the balance between supply and demand. But first… |
These slides have been provided for use as presentations to students considering a career in the petroleum industry. You are permitted to use them individually or as a collection and adapt them to the needs of the presentation you are preparing. They are designed primarily for the use of those acting under the Visiting Geoloscientists' Program managed by the AAPG and should be credited as such upon their use.