Available Exports, Worse than 1973 Oil Embargo
Most of the world's major economies are importers. World Oil Exports measure energy available to drive economies:
- 2005 were 46.342 mbpd
- 2006 were 45.838 mbpd, down 1.10%, 504 mbpd or 184 million barrels below 2005
- 2007 were 44.832 mbpd, down 2.24%, 1,509.7 mbpd or 551 million barrels below 2005
- 2008 looks like 43.8 mbpd, looking like a drop of at least 8% per year after 2010.
- 735 million barrels deficit in 2006-2007 and growing
- 604 million barrels deficit (about) was caused by the 1973 Oil Embargo
Efficiency must gain at least three times per year to counter oil price / supply decrease per year; fortunately that is possible. PRT and Advanced Renewable Tariffs are a start in the process of changing the lifeblood of our economy from oil to ingenuity.