Saturday, October 11, 2008

Gas Supplies

Ok, one more for today, slow_dazzle, at LATOC posted this youtube video of Matt Simmons speaking at the recent ASPO (Association for the study of Peak Oil) conference.
You guys should watch this.




also, go here and read about Ghawar going into depletion. Here's a little bit of the article.

Running Dry

No country is more important to oil markets than Saudi Arabia. The kingdom produced roughly 9.2 million barrels of crude a day in 2006, and accounted for 19 percent of world oil exports. Many analysts expect it to supply a quarter of the world’s added production over the next few years. And as the only producer with significant excess capacity, it has played a crucial role in alleviating temporary supply disruptions, increasing daily production by 3.1 million barrels during the first Gulf War, for example, when oil production in Iraq and Kuwait dropped by 5.3 million barrels.

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