[edited Dec, 23. 2016] We are in the midst of an energy revolution, with new types of liquid fuels from new sources and an increased supply of traditional fuels unleashed from existing sources thanks to new technologies.
While this is good news, it is tempered by the reality that
global demand is forecast to far outpace supply. According to data from
industry analysts at Cambridge Energy Research Associates (CERA), we will face
a supply gap of 35 million bpd by 2030. That’s even taking into consideration
the new supply brought on by the success of hydraulic fracturing in the US, new
and forecasted discoveries in the Gulf of Mexico and other areas around the
world, and the increased use of electric vehicles and other high fuel
efficiency cars and trucks.