In creating the detailed breakdown of US oil production, Berman segregated the data into true petroleum (crude oil and condensate) versus non-petroleum components, discovering that only 60% of what is reported as US oil production by the EIA is actually oil; the remaining 40% consists of natural gas liquids, biofuels, refinery gain, and other non-petroleum products.
factualpending
Speaker
Art BermanEvidence Quote
“What I found when I made that graph was, holy cow, what we call oil, only 60% of it is actually what I would call oil. So 40% of what we're counting as oil... is because this large portion that doesn't even come from oil is growing at a faster rate than the oil production is.”
Source
Arthur Berman: "Peak Oil - The Hedonic Adjustment" | The Great Simplification #54— Nate HagensCreated: 8/12/2026, 5:55:57 PM
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