the hole left by deferrals will be difficult to address, sending the call on US crude growth north of 1,000 Mb/d/yr by late this decade. [Figure 7: Major Oil Project Sanctions (190s) by year 40. 16 30 Figure 8: Peak 3002 2SCO capacity of project FIDs by year (Mb/d) 03 ro 2000 1300 3 le 200 4iP 4r 05' 4r 4, 4r