Average monthly production from Texas wells drilled in indicated period as a function of months since well completion. Source: Anderson, Kellogg, and Salant (2014).” src=”http://econbrowser.com/wp-content/uploads/2014/07/AKS1-866×1024.png”> >Average monthly production from Texas wells drilled in indicated period as a function of months since well completion. Source: Anderson, Kellogg, and Salant (2014). Makati1 on Tue, 22nd Jul 2014 7:52 am The recovery of real petroleum has been declining for decades. Net energy produced, per capita, has also been declining for at least as long. Never any mention of that in the ‘news’ though. Too depressing and the market casino would crash and never recover. BTW: We do not “produce” oil, we recover it. Mother Nature produced it hundreds of millions of years ago. “Which force is winning the race?” – Econbrowser I do not see it as a “race” nor is there any “winning,” there is only “depletion.” Anyway, the arithmetic is […]