An inconvenient truth about OPEC

DALLAS - The three major organisations that forecast long-term oil demand and supply - the International Energy Agency (IEA), the Organisation of Petroleum Exporting Countries (OPEC), and the United States Energy Information Administration (EIA) - along with oil companies and consulting firms, believe that OPEC will reconcile predicted global demand and non-OPEC supply.

But they are wrong: OPEC output will not meet such projections, because they are based on flawed and outdated forecasting models.

In forecasts that carry forward to the 2030's, the three organisations share the view that world energy demand will increase, that developing countries will account for most of the increase, and that fossil fuel will remain dominant.

Editor's Comment
CAF is a joke, but...

We are told of massive spin-offs for hosting countries, which we assume was the catalyst behind putting in the bid.We are not too sure if it is a one-size fits all, where any hosting nation reaps the benefits or it’s on a case-by-case basis.There are arguments from both ends, with hosting a sure way to accelerate infrastructure development and a guaranteed cash flow during the 30-days of the tournament.There is a bump in employment creation...

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