Climate Quote by Peter Voser
“The IEA forecasts that production from oilfields, which have started production up to 2011, will nearly drop two-thirds by 2035.”
About This Quote
Source Report: International Energy Agency forecast, 2023
Oil fields that began production before 2011 will see output fall by about 66% by 2035.
In simple terms: Oil output from older fields will sharply decline.
Key Takeaway
Plan for energy transition away from aging oil.
Themes
energy transition
oil decline
forecast
Mood
analytical
concerned
Type
report
forecast
When to use this quote
- investment planning
- policy making
- energy diversification
- infrastructure development
Key Concepts
Resource depletion
energy economics
Questions to Reflect On
- What alternatives can replace declining oil supply?
- How should economies adapt to reduced oil output?
A Different Perspective
Transition may be slower due to political and economic resistance.
![“I do not remember when I said this [oil production would collapse ], maybe in the heat of the moment, but I do not think I even said it, but I may just not remember it. I was saying that at a certain level of oil prices new deposits will not be explored. That is what is actually happening…” quote by Vladimir Putin](https://sms4smile.com/quotes/img-quotes/3f7/vladimir-putin-261_certain_i-do-not-remember-when-i-said-this-oil-p_1570466.jpg)
