Economics & Global Affairs

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An Iraqi worker operates valves at the Nahran Omar oil refinery near Basra, Iraq.

AP Photo/Nabil al-Jurani, File

Discussion Paper - Belfer Center for Science and International Affairs, Harvard Kennedy School

Oil: The Next Revolution

| June 2012

A new study by Belfer Center Geopolitics of Energy researcher Leonardo Maugeri finds that oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity is likely to grow by nearly 20 percent by 2020.  This could prompt a plunge or even a collapse in oil prices.  The findings by Maugeri, a former oil industry executive who is now a fellow at Harvard Kennedy School’s Belfer Center, are based on an original field-by-field analysis of the world’s major oil formations and exploration projects.