| Topic: |
Religions > Atheism |
| User: |
"stoney" |
| Date: |
14 Nov 2005 02:07:11 AM |
| Object: |
OT: Kuwait's biggest field starts to run out of oil |
http://www.ameinfo.com/71519.html
Kuwait's biggest field starts to run out of oil
It was an incredible revelation last week that the second largest oil
field in the world is exhausted and past its peak output. Yet that is
what the Kuwait Oil Company revealed about its Burgan field.
The peak output of the Burgan oil field will now be around 1.7 million
barrels per day, and not the two million barrels per day forecast for
the rest of the field's 30 to 40 years of life, Chairman Farouk Al
Zanki told Bloomberg.
He said that engineers had tried to maintain 1.9 million barrels per
day but that 1.7 million is the optimum rate. Kuwait will now spend
some $3 million a year for the next year to boost output and exports
from other fields.
However, it is surely a landmark moment when the world's second
largest oil field begins to run dry. For Burgan has been pumping oil
for almost 60 years and accounts for more than half of Kuwait's proven
oil reserves. This is also not what forecasters are currently
assuming.
Forecasts wrong
Last week the International Energy Agency's report said output from
the Greater Burgan area will be 1.64 million barrels a day in 2020 and
1.53 million barrels per day in 2030. Is this now a realistic
scenario?
The news about the Burgan oil field also lends credence to the
controversial opinions of investment banker and geologist Matthew
Simmons. His book 'Twilight in the Desert: The Coming Saudi Oil Shock
and the World Economy' claims that the ageing Saudi oil filed also
face serious production falls.
The implications for the global economy are indeed serious. If the
world oil supply begins to run dry then the upward pressure on oil
prices will be inexorable. For the oil producers this will come as a
compensation for declining output, and cushion them against an
economic collapse.
However, the oil consumers then face a major energy crisis.
Industrialized economies are still far too dependent on oil. And the
pricing mechanism of declining oil reserves will press them into
further diversification of energy supplies, particularly nuclear, wind
and solar power.
Geological facts
All this was foreshadowed in the energy crisis of the late 1970s when
a serious inflection in oil supply by the year 2000 was clearly
forecast. How ironic that those earlier forecasts now look correct,
while more modern and recent forecasts begin to look over optimistic
and out-of-date with geological reality.
Nobody can change the geology, and forces of nature that laid down
reserves of oil and gas over millions and millions of years. Could it
be that we have been blinded by technological advances into thinking
that there is some way to beat nature?
The natural world has an uncanny ability to hit back at the arrogance
of man, and perhaps a reassessment of reality at this point is called
for, rather than a reliance on oil statistics that may owe more to
political maneuvering than geological facts.
© 1996 - 2005 AME Info FZ LLC
--
Contempt of Congress meter reading-offscale.
Hello, theocracy with a fundamentalist US Supreme
Court who will ensure church and state are joined
at the hip like clergy and altar boys.
America 1776-Jan 2001 RIP
"As democracy is perfected, the office of president
represents, more and more closely, the inner soul
of the people. On some great and glorious day the
plain folks of the land will reach their heart's
desire at last and the White House will be adorned
by a downright moron." --- H.L. Mencken (1880 - 1956)
Religion is the original war crime.
-Michelle Malkin (Feb 26, 2005)
.
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| User: "Mark K. Bilbo" |
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| Title: Re: OT: Kuwait's biggest field starts to run out of oil |
14 Nov 2005 02:15:07 AM |
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In <h4sfn1lc53eo69f8k57b7u56tlokiv9g7o@4ax.com>, stoney <stoney@the.net>
wrote:
The news about the Burgan oil field also lends credence to the
controversial opinions of investment banker and geologist Matthew Simmons.
His book 'Twilight in the Desert: The Coming Saudi Oil Shock and the World
Economy' claims that the ageing Saudi oil filed also face serious
production falls.
Or already are falling and the Saudis are afraid of admitting it. You know
we have no independent way of verifying what the Saudis tell us what's
going on?
--
Mark K. Bilbo
--------------------------------------------------
Forgotten Already
http://makeashorterlink.com/?H1233272C
Feds are treating Louisiana like enemy
"...it may be that they may have written us off."
http://makeashorterlink.com/?O21E51C1C
http://www.nola.com
.
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| User: "Enkidu the Atheist" |
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| Title: Re: OT: Kuwait's biggest field starts to run out of oil |
14 Nov 2005 02:48:25 AM |
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"Mark K. Bilbo" <alt-atheism@org.webmaster> wrote in
news:eOmdncjdqfawbureRVn-jg@megapath.net:
In <h4sfn1lc53eo69f8k57b7u56tlokiv9g7o@4ax.com>, stoney
<stoney@the.net> wrote:
The news about the Burgan oil field also lends credence to the
controversial opinions of investment banker and geologist Matthew
Simmons. His book 'Twilight in the Desert: The Coming Saudi Oil Shock
and the World Economy' claims that the ageing Saudi oil filed also
face serious production falls.
Or already are falling and the Saudis are afraid of admitting it. You
know we have no independent way of verifying what the Saudis tell us
what's going on?
I'm sure we know how much oil leaves the ground. How hard they have to
work to get it, and how much is left in the ground, well, that's another
story.
Oil is a dead end. If we see it coming in time, perhaps we can create
other options. If we can't, then the future may be brown, dirty, and
hungry.
--
Enkidu AA#2165
EAC Chaplain and ordained minister,
ULC, Modesto, CA
PGP ID: 0xC4CE8CF0
"I'm all in favor of the democratic principle that one idiot is as good
as one genius, but I draw the line when someone takes the next step and
concludes that two idiots are better than one genius."
* Leo Szilard
(02/11/1898 - 05/30/1964)
Hungarian-US scientist
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| User: "Mark K. Bilbo" |
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| Title: Re: OT: Kuwait's biggest field starts to run out of oil |
14 Nov 2005 06:13:27 AM |
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In <Xns970DBF55A5C3B255229@130.133.1.4>, Enkidu the Atheist
<enkidu@leaddogs.org> wrote:
"Mark K. Bilbo" <alt-atheism@org.webmaster> wrote in
news:eOmdncjdqfawbureRVn-jg@megapath.net:
In <h4sfn1lc53eo69f8k57b7u56tlokiv9g7o@4ax.com>, stoney <stoney@the.net>
wrote:
The news about the Burgan oil field also lends credence to the
controversial opinions of investment banker and geologist Matthew
Simmons. His book 'Twilight in the Desert: The Coming Saudi Oil Shock
and the World Economy' claims that the ageing Saudi oil filed also face
serious production falls.
Or already are falling and the Saudis are afraid of admitting it. You
know we have no independent way of verifying what the Saudis tell us
what's going on?
I'm sure we know how much oil leaves the ground.
No, we don't.
I was surprised myself. What we "know" is only what SA *tells us. And
that's generally true of all OPEC members. Further, we *do know they've
all been lying for over a decade.
Seriously. They changed their quota system some years ago, moving to a set
up that allocated the quotas based on reserves. Suddenly, reserves
ballooned all over OPEC. Iraq's reserves doubled. Overnight. I guess they
checked under the couch (this is how stupid the neocons are, that "second
largest reserves" thing they yapped about in the lead up to the war was
based on numbers Saddam Hussein pulled out of his ***** one day and people
like ***** Cheney *took *him *at *his *word).
The industry (and governments) has know this for years. Yet they still use
the inflated figures to tell us "everything's just fine."
You'd think the oil industry was run on *some kind of science. But the
more I read, the more it looks like monkeys fucking a watermelon. We not
only don't know what SA really has, we don't know what our own oil
companies actually have. I read Chevron-Texaco each year--for over six
years--has reported increased reserves. And each year, their production
has gone *down. So where's the oil? Some might suggest they're holding
back to drive up prices. But that's ignoring the Shell fiasco when their
house of cards came crashing down and they had to admit their reserve
figures were fiction. They just flat out lied.
The oil industry self-reports and the government swallows their figures
whole. Then chattering heads on talk shows tell us everything is *fine.
At the same time, they tell us that the world has about 2% spare
production capacity. Later, the *also tell us world oil consumption rises
2% per year.
Now, maybe I've forgotten a lot of my math but that seems to me to mean
that the peak isn't in 2010 or 2025 or some other year they toss out but
in 2006.
I'm betting next summer we're all going to look back fondly on $3 a gallon...
--
Mark K. Bilbo
--------------------------------------------------
Forgotten Already
http://makeashorterlink.com/?H1233272C
Feds are treating Louisiana like enemy
"...it may be that they may have written us off."
http://makeashorterlink.com/?O21E51C1C
http://www.nola.com
.
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| User: "Alan S" |
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| Title: Re: OT: Kuwait's biggest field starts to run out of oil |
14 Nov 2005 10:40:22 AM |
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On Mon, 14 Nov 2005 00:13:27 -0600, "Mark K. Bilbo" >In
<Xns970DBF55A5C3B255229@130.133.1.4>, Enkidu the Atheist
I'm sure we know how much oil leaves the ground.
No, we don't.
I was surprised myself. What we "know" is only what SA *tells us. And
that's generally true of all OPEC members. Further, we *do know they've
all been lying for over a decade.
[snip the part about reserves]
Reserves is a different issue. Production is known.
I'm betting next summer we're all going to look back fondly on $3 a gallon...
Price of oil is very speculative, so it depends on what events next
summer will offer the opportunity to raise prices. However, price have
come down considerably, so the sudden jump was not due to any type of
shortage but worst case opportunistic speculation after a couple of
hurricanes unrelated to either production or reserves.
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| User: "stoney" |
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| Title: Re: OT: Kuwait's biggest field starts to run out of oil |
14 Nov 2005 05:25:51 PM |
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On 14 Nov 2005 02:48:25 GMT, Enkidu the Atheist <enkidu@leaddogs.org>
wrote:
"Mark K. Bilbo" <alt-atheism@org.webmaster> wrote in
news:eOmdncjdqfawbureRVn-jg@megapath.net:
In <h4sfn1lc53eo69f8k57b7u56tlokiv9g7o@4ax.com>, stoney
<stoney@the.net> wrote:
The news about the Burgan oil field also lends credence to the
controversial opinions of investment banker and geologist Matthew
Simmons. His book 'Twilight in the Desert: The Coming Saudi Oil Shock
and the World Economy' claims that the ageing Saudi oil filed also
face serious production falls.
Or already are falling and the Saudis are afraid of admitting it. You
know we have no independent way of verifying what the Saudis tell us
what's going on?
I'm sure we know how much oil leaves the ground. How hard they have to
work to get it, and how much is left in the ground, well, that's another
story.
Oil is a dead end. If we see it coming in time, perhaps we can create
other options.
The Bushies and others dependant on oil industry profits won't allow
that unless they get a hefty cut.
If we can't, then the future may be brown, dirty, and
hungry.
That doesn't matter to the Bushies and the other cretins.
--
Contempt of Congress meter reading-offscale.
Hello, theocracy with a fundamentalist US Supreme
Court who will ensure church and state are joined
at the hip like clergy and altar boys.
America 1776-Jan 2001 RIP
"As democracy is perfected, the office of president
represents, more and more closely, the inner soul
of the people. On some great and glorious day the
plain folks of the land will reach their heart's
desire at last and the White House will be adorned
by a downright moron." --- H.L. Mencken (1880 - 1956)
Religion is the original war crime.
-Michelle Malkin (Feb 26, 2005)
.
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| User: "" |
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| Title: Re: OT: Kuwait's biggest field starts to run out of oil |
29 Nov 2005 04:05:27 AM |
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Mark K. Bilbo wrote:
Or already are falling and the Saudis are afraid of admitting it. You know
we have no independent way of verifying what the Saudis tell us what's
going on?
Bargan is located in Kuwait, unless I'm very much mistaken it is a
Saudi's neighbor. However, you might be thinking about Ghawar oil
province which is inside Saudi Arabia.
However, they didn't mention "water injection" in Bergan province.
Water injection means "Oil Province" is very mature, think of it like
North Sea oil.
.
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| User: "stoney" |
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| Title: Re: OT: Kuwait's biggest field starts to run out of oil |
14 Nov 2005 05:24:43 PM |
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On Sun, 13 Nov 2005 20:15:07 -0600, "Mark K. Bilbo"
<alt-atheism@org.webmaster> wrote:
In <h4sfn1lc53eo69f8k57b7u56tlokiv9g7o@4ax.com>, stoney <stoney@the.net>
wrote:
The news about the Burgan oil field also lends credence to the
controversial opinions of investment banker and geologist Matthew Simmons.
His book 'Twilight in the Desert: The Coming Saudi Oil Shock and the World
Economy' claims that the ageing Saudi oil filed also face serious
production falls.
Or already are falling and the Saudis are afraid of admitting it. You know
we have no independent way of verifying what the Saudis tell us what's
going on?
Count on it falling.
--
Contempt of Congress meter reading-offscale.
Hello, theocracy with a fundamentalist US Supreme
Court who will ensure church and state are joined
at the hip like clergy and altar boys.
America 1776-Jan 2001 RIP
"As democracy is perfected, the office of president
represents, more and more closely, the inner soul
of the people. On some great and glorious day the
plain folks of the land will reach their heart's
desire at last and the White House will be adorned
by a downright moron." --- H.L. Mencken (1880 - 1956)
Religion is the original war crime.
-Michelle Malkin (Feb 26, 2005)
.
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