OIL NEWS: Kuwaits biggest oil field is now officially running dry.

www.ameinfo.com...

There is a link to the new article.

This would be bad as the fields in kuwait have been pumped about as long as the rest of the middle east. Over the next 20 years I expect we'll see more and more fields peaking.

Again, you will have the a Abiotic Oil crew telling you: Don't worry be happy, the earth is just a big oil resevoir, when this is empty, a new planet 100 times bigger, full of oil too, will come & stop by, so we can empty that one too.

Matt Simmons *energy banker) in his book "Twilight in the Desert" is more or less forcasting Saudi Arabia to peak soon.

Yeah i saw this a couple of days ago. Not only is it Kuwaits biggest oil field but it is the world second largest oil field. I doubt it will have much effect on the price of oil anytime soon though.

I think Matt Simmons is predicting Gwahar to peak soon and that one field alone produces 40% of their oil. I think he said it's getting to the point to where they are pulling out more salt water than oil, but I could be wrong. I'll have to double check.

So does this mean the fall of some middle eastern powers who rely on oil? Or do they have more huge reserves to keep them going?

Don't take it as "oh no here we go"

This oilfield can be producing for several decades more... It just will never produce as much as it has been.

"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."

So nothing said about running out as far as i can see... What they said is that they are extracting too much at once and that it will degrade future reserves. This is such awesome claim that i am surprised the abiotic crowd is not jumping all over it. Wether they do or not it hardly matters as 1.7 million is still a damn lot of oil considering how much we are discovering everywhere else.

The article goes much too far in assuming possibilities of oil running out any time soon when it can be easily proven that they are not whatever happens in Saudi Arabia.

More tonight.

Stellar

Abiotic crowd says it's all a big scam and 100's of thousands of oil employees are all in on a big secret oil cabal to hide facts. Ah yeah right... a secret like wmd's in Iraq.

Sweden first to break dependence on oil! New programme presented
The Swedish prime minister announced on Tuesday that the government would appoint a commission that will try to make Sweden independent of oil by 2020.

So what? All they need to do is tap anyone of the other reserves. They have tens of billions of barells of drillable oil. Oil will not run dry literally for another at least another 100 years, but copper will run dry literally in about a quarter of that time.

Originally posted by Regenmacher
Sweden first to break dependence on oil! New programme presented
The Swedish prime minister announced on Tuesday that the government would appoint a commission that will try to make Sweden independent of oil by 2020.

I assum they just mean independent of oil for a mjority of fuel and energy needs. Which what it sounds like. Good luck with that time frame.

[edit on 15-11-2005 by Frosty]

Peak Oil. It's just a corporate media conspiracy theory.

Convienient time eh? Isreal is on the eve of war against many middle eastern nations and all of the sudden the well is starting to run dry.

We've entered the age of the resource war. There is still plenty of oil but the militaries of the world have already eyed it out as their own.


*Did you know that in 1970 the Oil corporations taped a resevoir in Alaska and they measured it at roughly 300-500 years of oil. They tapped it but even now as Bush has been pushing to drill in Alaska they have never tapped a drop of it?

True story. If you do some researching of your own you will discover it to be fact. They never disclosed the figures officially.

A book has been written about it. *Energy Non-Crisis*


[edit on 10-12-2005 by Huabamambo]

Originally posted by PopeyeFAFL
Again, you will have the a Abiotic Oil crew telling you: Don't worry be happy, the earth is just a big oil resevoir, when this is empty, a new planet 100 times bigger, full of oil too, will come & stop by, so we can empty that one too.

Well the abiotic crowd will actually tell you that oil is being produced deep insider the earth and if we use it at a certain rate we will never run out.

Matt Simmons *energy banker) in his book "Twilight in the Desert" is more or less forcasting Saudi Arabia to peak soon.

Greenspan state that the world is not running out of oil and that the rising oil prices is just a tax on us citizens.

Simmon's makes many claims wich Michael Lynch proves to be based ,at best, on pure speculation.
Readhere for why we should not trust Simmons when he claims a reasonable price for oil is actually 180 odd USD a barrel.

Who is Michael Lynch?

"Michael C. Lynch has over twenty years of experience analyzing international energy, particularly oil and gas markets. He has numerous publications in four languages and speaks regularly at international conferences. He is the primary author of Global Petroleum SEER and Global Petroleum Outlook, which provide short- and long-term oil market analyses.

"Mr. Lynch's previous work has included computer modeling of the world oil market and estimation of the economics of supply for both world oil and natural gas, including LNG supply, and market behavior under normal and disrupted conditions. He has also given testimony and advice to committees of the U.S. Congress and the United Nations, the World Bank and the International Energy Agency.

Before coming to Strategic Energy & Economic Consulting , Inc., Mr. Lynch was Vice President of Oil Services at WEFA, Inc. Prior to coming to WEFA he was Director, Asian Energy and Security, at the Center for International Studies, M.I.T., as well as a Lecturer in the Diplomatic Training Program at the Fletcher School of Law and Diplomacy, Tufts University. Prior to that, he held a number of
research positions at M.I.T., as well as serving as a senior associate for the Washington International Energy Group. His work consisted primarily of advising corporations, governments and industry associations on world oil and gas markets and energy security policy."

www.energyseer.com...

Stellar

Mod Edit: No Quote/Plagiarism – Please Review This Link.

Mod Edit: New External Source Tags – Please Review This Link.


[edit on 8/1/2006 by Mirthful Me]

Originally posted by Huabamambo
Peak Oil. It's just a corporate media conspiracy theory.

Well the media hardly comes up with these ideas so we should rather ask who tells the editors what they may or may not publish. I for one do not think that global coporations have power enough to manage such a feat alone.

Convienient time eh? Isreal is on the eve of war against many middle eastern nations and all of the sudden the well is starting to run dry.

Israel can not afford a war against anyone anymore, imo, however many nuclear reactors Iran or anyone else decides to bring online. They lack the range and numbers of planes to take out Iranian Nuclear facilities and such in one strike and they could not prevent retaliation in kind ( however effective that might be) while doing it.

We've entered the age of the resource war. There is still plenty of oil but the militaries of the world have already eyed it out as their own.

There is plenty of resources and the only reason nations fight over them is because their governments tell them to do so . It is nothing but a easily sold sham to alter people's perpception so that they may consider war inevitable. How many nations did Japan have to invade to bring out it's current economic growth despite lacking the resources such a thing in theory requires? Who did China invade? The reason for the current "oil wars' the US got involved in is just to create insecurity in world oil markets, thus driving up prices and creating a global demand for Dollars, while giving American industry the chance at some of the cheapest oil in the world.

*Did you know that in 1970 the Oil corporations taped a resevoir in Alaska and they measured it at roughly 300-500 years of oil. They tapped it but even now as Bush has been pushing to drill in Alaska they have never tapped a drop of it?

Imo that is probably accurate but i would still appreciate a link so that i may use the information in the future.

True story. If you do some researching of your own you will discover it to be fact. They never disclosed the figures officially.

They dont have to.

A book has been written about it. *Energy Non-Crisis*

Many books have been written on the lie that is peak oil in the near future.

Stellar

Mod Edit: Fixed Quote Tag.

[edit on 8/1/2006 by Mirthful Me]

I would have seen it! Thanks anyways.

Stellar

[edit on 8-1-2006 by StellarX]

To be fair i dont use any of the buttons to formulate my posts so i just did not notice the new one's! I will make sure that this is the last time you have to remind me of it. Is the fact that i posted his bio a problem as i imagined that would only help.

Thanks for for the trouble you went to.

Stellar

[edit on 8-1-2006 by StellarX]

Nothing new, Saudi Arabia is running dry but BOTH denigh it as long as they can.

Originally posted by Vekar
Nothing new, Saudi Arabia is running dry but BOTH denigh it as long as they can.

BP: World oil and gas reserves still growing at healthy pace

How much oil and natural gas i left?

World wide data.

More claims made by VERY prominent Saudi officials and Greenspan saying that "we are not running out of oil."

If you look at some other threads in this section you will quickly get a good idea of what is in fact happening to the world oil reserves

Stellar

*sigh*

i can come up with an qual ammount of VERY prominent experts who believe Saudi Arabia is about to peak...

- The Saudis' approaching twilight

- New study raises doubts about Saudi oil reserves

- Saudi's Missing Barrels of Oil Production

Even the former head of Saudi Armaco sais the estimates on the Saudi oil reserves are dangerously overestimated...

Originally posted by Zion Mainframe
*sigh*
can come up with an qual ammount of VERY prominent experts who believe Saudi Arabia is about to peak...

Prominent liars in my opinion. Matthew Simmons is NOT credible and he has been saying that the world will peak , always next year, for 2 decades last i checked. The man keeps being wrong ( world oil reserves and productions keeps growing) yet the media keeps quoting him. He does NOT represent the final word on world oil reserves as Greenspan made rather clear by saying that we were not running out of oil. Now why would Greenspan say that just five months after being present when Saudi oil experts made it clear that there were reserves enough for at least another five decades.

The Saudis' approaching twilight

immon's makes many claims wich Michael Lynch proves to be based ,at best, on pure speculation. Please read here for why we should not trust Simmons when he claims a reasonable price for oil is actually 180 odd USD a barrel.

The Shell Reserve Downgrading: Year of the Monkey Business?

The New Pessimism about Petroleum Resources: Debunking the Hubbert Model (and Hubbert Modelers)

"Michael C. Lynch has over twenty years of experience analyzing international energy, particularly oil and gas markets. He has numerous publications in four languages and speaks regularly at international conferences. He is the primary author of Global Petroleum SEER and Global Petroleum Outlook, which provide short- and long-term oil market analyses.

Mr. Lynch's previous work has included computer modeling of the world oil market and estimation of the economics of supply for both world oil and natural gas, including LNG supply, and market behavior under normal and disrupted conditions. He has also given testimony and advice to committees of the U.S. Congress and the United Nations, the World Bank and the International Energy Agency.

Before coming to Strategic Energy & Economic Consulting , Inc., Mr. Lynch was Vice President of Oil Services at WEFA, Inc. Prior to coming to WEFA he was Director, Asian Energy and Security, at the Center for International Studies, M.I.T., as well as a Lecturer in the Diplomatic Training Program at the Fletcher School of Law and Diplomacy, Tufts University. Prior to that, he held a number of
research positions at M.I.T., as well as serving as a senior associate for the Washington International Energy Group. His work consisted primarily of advising corporations, governments and industry associations on world oil and gas markets and energy security policy."

www.energyseer.com...

Basically Lynch has been right so far and Simmons have been dead wrong for decades running. Work from there and see if it's worth basing your arguments on the word of this man.

- New study raises doubts about Saudi oil reserves

The fact that Simmons is again involved ( as he tends to always be) should set of flashinh lights.

Saudi Arabia has over 300 recognized reservoirs but 90% of its oil comes from the five super giant fields discovered between 1940 and 1965.

But they will run out soon, right? The Saudi's obviously disagrees but mabye Simmons is right this year.....

His colleague Mahmoud Abdul-Baqi, Saudi Aramco's vice president for exploration also expressed optimism about the future of their industry. "We have a lot of area to explore and find a lot of oil and gas. Our track record shows we delivered for the past 70 years and we will continue to deliver in the next 70 years and beyond."

There are many documents that indicates exactly how little effort the Saudi's have invested in exploration due to the fact that they get so much oil from those few massive fields. Why are they not exploring you ask? Well it seems those old massive fields are just going to keep on producing for a long time still.

If you want to ask speciifc questions from this article your free to do so as i do not have time to refute each claim. If your willing to invest more time so shall I.

Saudi's Missing Barrels of Oil Production

www.eia.doe.gov...

US oil production actually "peaked" in 1985 ( some time after the Hubbert curvers would have you believe) so why not start wondering if all these peak oil people think your too stupid to do your own research? The reason it "peaked" when it did had nothing to do with oil availability but with oil prices crashing all around the world. I suggest you first tell me why Oil prices were still crashing back in 1985 and why they are now just simply and inexplicably running out. How can oil nearly double in price in two years if the price has anything to do with oil reservers ( in the ground) around the world? Why do such prominent organizations still say that world oil reserves are rapidly growing?

BP: World oil and gas reserves still growing at healthy pace

How much oil and natural gas is left?

Even the former head of Saudi Armaco sais the estimates on the Saudi oil reserves are dangerously overestimated...

That is not what he is saying in my opinion. As far as i could see he does not actually say what mistakes the US government made and wich countries reserves they have overestimated. I think this site took some of his quotes of context and he may simply be saying that the US might at some point have supply problems for whatever reason.

Feel free to clarify what exactly makes you so sure he would be willing to put his former company ( and his government) into such warm water by saying what this site says he did. If you can show me more credible links to such statements i will have to go have a serious look at what evidence he is willing to present in contradiction to what we know for sure about Saudi Oil.

Stellar

Did you know that in 1970 the Oil corporations taped a resevoir in Alaska and they measured it at roughly 300-500 years of oil. They tapped it but even now as Bush has been pushing to drill in Alaska they have never tapped a drop of it?

True story. If you do some researching of your own you will discover it to be fact. They never disclosed the figures officially.

If you mean the reserves in the wildlife reserve, well there's not really as much as you might think there, in fact it's if you figure those reserves in with the other oil sources for the U.S, it would be in the single dif=gits, like only 8%.

Originally posted by StellarX

Even the former head of Saudi Armaco sais the estimates on the Saudi oil reserves are dangerously overestimated...

That is not what he is saying in my opinion. As far as i could see he does not actually say what mistakes the US government made and wich countries reserves they have overestimated. I think this site took some of his quotes of context and he may simply be saying that the US might at some point have supply problems for whatever reason.

This has been all over the net, he literally said the oil supplies are dangerously overestimated!

You can say whatever you want about Simmons, but it doesn't makes your story any more credible. Simmons knows quite a it about oil my friend: Simmons & CO

Saying he's a liar and not credible is rediculous.

Have you already bought the book I recommended you in another thread?;
Blood and Oil by Michael T. Klare[/url]

You should.

[edit on 1-11-2006 by Zion Mainframe]

Originally posted by Zion Mainframe
This has been all over the net, he literally said the oil supplies are dangerously overestimated!

Well then do supply me with a link to his specfic claims. Should be easy to find if it's all over the net. As i said before the article you linked me to did not suggest to me that he was talking about Saudi oil.

You can say whatever you want about Simmons,

I dont say whatever i want about anyone without looking at the best information i currently have. If you can introduce information that suggest he is not a complete fraud ( wich he is imo) i will obviously have to rethink my views.

but it doesn't makes your story any more credible. Simmons knows quite a it about oil my friend: Simmons & CO

All you linked me to was to the ammount of money being traded by his group. If that is supposed to make him credible i guess you will have to explain it to me. My story is backed by a few links of the many links i have and if you are not willing to address them it will really slow down the discussion.

Saying he's a liar and not credible is rediculous.

Were all my information so ridiculous that you will not even bother mentiong it again? Please pick one instance where i misrepresented data so i can back it up with more. I sometimes assume people are more familiar with these numbers than i have become over the last two years.

Have you already bought the book I recommended you in another thread?;
Blood and Oil by Michael T. Klare[/url]

I have plenty of good books waiting for me so you will need to tell me why this one should be moved to the top of my list. What does it prove that i can not find sources for online?

Stellar

Originally posted by StellarXAll you linked me to was to the ammount of money being traded by his group.

Apparently you forgot to read all the research articles and speeches Simmons gave over the years. They've done quite a lot of research.

Originally posted by StellarX
I have plenty of good books waiting for me so you will need to tell me why this one should be moved to the top of my list. What does it prove that i can not find sources for online?

Stellar

As I've already told you in the other thread, the book gives an excellent overview of the history of oil, the middle east, and US reliance on foreign oil. It gives examples of how and why the US peaked in the '70s. A thoughtful and well-researched history of oil and geopolitics, according to The Economist.