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well that was 2007 and today it is at 464k barrels a day... expected to stabilize at 400k...
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Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama" -
He has sort of a point, but does anyone think the Saudis would be better off if they had no oil at all?In Soviet Russia, Fake borises YOU.Comment
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PeMex's big problem is under reinvestment. The Mexican government has been using it as a piggy bank for decades financing a large part of the government with the money instead of taxing the top 10% who own just about everything in the country while the bottom 90% live close to poverty. Yes, Cantarell is now on the long slow tail but there are numerous other large fields further off shore which have been identified and which they're only now starting to build rigs for plus even the old fields can get a huge increase in output just by using steam injection or water injection to help raise pressure back up and flush out some of the remaining black stuff. Of course that costs money and PeMex is run by cheap ass politicians who just want to squeeze every penny out of it they can without investing in the business over the long term but it could be done.Try http://wordforge.net/index.php for discussion and debate.Comment
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Wow, you mean when oil was cheap no one bothered to spend the money to look for more because the market was already glutted? Who would have thought?It's widely believed that the world's biggest oil fields have already been found. In the decades leading up to the 1970s, the world discovered eight big fields that produced between 500,000 to one million barrels a day, according to Matthew Simmons, a veteran oil industry banker. During the 1970s and 1980s, only two were found. Since then, only one -- the Kashagan field in Kazakhstan -- has the potential to easily top the 500,000 barrel-a-day mark.
Try http://wordforge.net/index.php for discussion and debate.Comment
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They'd still be herding goats and living in tents.Originally posted by Oncle Boris View PostTry http://wordforge.net/index.php for discussion and debate.Comment
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The royal family would be poor. For the rest: same difference.Originally posted by Oncle Boris View Post"Ceterum censeo Ben esse expellendum."Comment
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