First, it was "finding oil on Wall Street." Now, it's "finding oil in the Federal bureaucracy." The Energy Information Agency has discontinued their International Petroleum Monthly and substituted a New! Improved! data set. Suddenly, world oil production (around 73 million barrels per day) increased to 85 million barrels per day; an increase of 13 million barrels per day. In contrast, OPEC might, or might not, be able to increase production by 2 million barrels per day.
The old EIA data set reported how much liquid petroleum came out of oil wells; a useful thing to know. I joke that their new data set includes all the switchgrass in Missouri. The EIA web site was always difficult to navigate, but now I get the feeling that the EIA doesn't want me to find the unembellished oil production figures.
Rather than listening to me moan, look at Gregor Macdonald's web site at gregor.us/eia. His most recent posting (on April 28, 2011) shows the depth of the problem. His previous posting (on January 14, 2011) shows his reconstructed data. The second graph in his January 14 edition shows that 2005 is still the year of greatest oil production. That makes me feel happy all the way down to the tips of my toes.
EDIT
http://www.princeton.edu/hubbert/current-events.html
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