World Watch Institute 15 Oct 09;
World production of fossil fuels-oil, coal, and natural gas-increased 2.9 percent in 2008 to reach 27.4 million tons of oil equivalent (Mtoe) per day, the highest ever recorded. In the first half of the 2008, producers strained to meet global demand, but by year's end the global recession left the market swamped by excess supply, causing oil prices to fall to from $144 per barrel in July to $34 per barrel in December.
According to the latest Vital Signs Update on fossil fuel production:
This new fossil fuel production update includes the latest figures on fossil fuel production globally and by region.
Read the Vital Signs analysis, "Fossil Fuel Production Up Despite Recession" by James Russell.
Fossil Fuel Production Up Despite Recession
posted by Ria Tan at 10/17/2009 06:37:00 AM
labels fossil-fuels, global