The International Energy Agency (IEA) provides unrealistically
high oil forecasts in its new 2012 World Energy Outlook (WEO).
To forecast coal production Rutledge borrowed a statistical technique developed
for oil forecasting known as Hubbert linearisation.
Since our last GOAL report, we have rolled
our oil forecast forward in time to lower levels along our longstanding profile of declining prices.
On the other hand, military action, however inconceivable, would throw
all oil forecasts out of the window.
Notice anything different between the coal and
oil forecasts?