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Wednesday, September 12, 2007

To me it looks like: OPEC has peaked!

An assessment of James Hamilton and Menzie Chinn illustrate how the OPEC quotas and the actual oil production differs:

  • James D. Hamilton is Professor of Economics at the University of California, San Diego
  • Menzie Chinn is Professor of Public Affairs and Economics at the University of Wisconsin, Madison
  • Read the following article by Econbrowser.com:

    OPEC production quotas
    The interpretation that I have been favoring for why Saudi production fell by a million barrels per day over the last two years is that production from northern Ghawar, their most important oil field, has peaked.

     

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