Production in the world's 2 largest oil fields rapidly coming to an end - Soon

Matt Simmons, President of Simmons & Co & former advisor to Bush/Cheney & Council on Foreign Relations Member, discovered the issues with Ghawar and the other larger Saudi fields. He is publishing a book on the subject, which is coming out in May.

More on Matt Simmon's thoughts on what is going on in Saudi Arabia in the links below. The first link is a transcript on a speech he gave last July and pretty much sums up the problems with Ghawar & many of the large, old fields. There are also some interesting preentations on issues with estimating reserves on the Simmons & Co. website...

www.energybulletin.net...
www.simmonsco-intl.com...
www.simmonsco-intl.com...

Was this the last weekend that the Islamo-NATziO alliance gave $$$$ to buy the oil price $5 down?

Buying oil for satanic cerimonies
www.freerepublic.com...

Blue Bonnets mind control operation - not only to promote the Gannon/homosexual agenda but also to let the sheeple swallow the arrest and torture of christians in Saudi Arabia, immediately following the Texas romance
www.abovetopsecret.com...

Grotesque final act on the stage for BIG BANG, originally planned for 6/16

Beginning of April: $58.70 all times high in dollars

Beginning of May: $46.80 - the moment where all "serious" Wall Street analysts tell us that soon it will be at $40.
"Debunkers" on the CIA payroll (Alex Jones, etc) shout louder then ever before about the "peak oil scam".

June 1: Oil hits all time high in Euro currency, while media keeps silence.
The rising dollar scam is easier to keep alive. Almost as easy as the rising stocks.

---------------
Rose from 52.10 to 54.75 in 3 hours. Looks like 6/16 plan changed.

Route 666: evolution and earthquakes (God ALLOWED the satanist target date 1998)

www.christianforums.com...

christianforums.com decided to delete only my posts but not the entire thread, probably because it had been too visible in the previous days.
To see what the real post #1 was - my original post - you can see part of it quoted in page 2.


www.christianforums.com...&page=10

www.google.com...

While Saudi Arabia has said it's investing heavily to raise its oil output capacity to 12.5 million barrels a day in 2009 from 11.3 million b/d, the world's No. 1 crude producer has been quietly cutting back current volumes.Saudi Oil Minister Ali Naimi, in an interview with The Wall Street Journal published Monday, said the country's output in April averaged 9.1 million b/d, its lowest level since January 2005.

Naimi, speaking after the Caracas meeting of the Organization of Petroleum Exporting Countries, said the reduction was in response to a drop in demand, not an attempt to limit supply and prop up prices.
In early April, U.S. refiners processed their lowest volume of crude oil for that time of year since 1997.
www.rigzone.com...

--- Rigzone just forgets to add 1 + 1. Do it by formulating the REAL question:
How come oil prices are only slowly rising, despite rapidly declining Saudi Arabia oil output and steady demand increase in India, China, etc?

Answer: dramatic upscaling the mass murder of "unproductive" in US/EU, after April 2005 (Terri Schindler) and especially after September 2005, as explained here:

Mass murder of elderly and disabled upscaled to postpone BIG BANG

[edit on 7-6-2006 by Truth666]

I have heard the US Strategic Petroleum Reserve is 800 million barrels (42 gal per bbl.) I believe it is stored in the Gulf off Louisiana's coast. I do not know how much the US military uses per day so I have no idea if it would last 17 years. That works out to 130,000 bbls per day for the military if the 17 years is right. That surely sounds reasonable.

The US currently uses about 22 million barrels per day of oil. We produce about 7 million barrels per day. We import about 15 million barrels per day. Because US domestic production is going down, it seems highly unlikely the US will ever become independent of foreign oil. Presently, the peak of world oil production has not been reached. We seem to be near to it, but we have not reached it. I read worldwide oil production is 85 million barrels per day. The world consumes 84 Mb/d. Close! Too closer! I have no idea when the world will reach “peak” but from that day forward, the price of oil will rise every day. That Is because even as we approach peak, production still exceeds demand, however slightly, but after peak, demand will exceed production, at increasing rates, all the time.

I have no doubt government price controls will be imposed lest ExxonMobil would own that part of the world Wal-Mart does not own. Peak has been forecast by people who ought to know as due in 2005, or 2006, or 2007, or 2010 or 2015 or 2020. But one day for sure, oil production will peak.

Most peak estimates are based on the history of oil discovery and production in the United States. There have been more wells drilled in the Lower 48 (170,000) than any other 3 million square miles on earth, therefore, assuming nature put oil out on some “regular” basis, the numbers derived from the US experience ought to be fairly reliable as predictors. Hmm?


[edit on 6/7/2006 by donwhite]

The last two weeks established a new duration record for the oil price rising at a $1/Day rhythm, as end time prophet prohesized in 1998. (1)

Notes
(1) See link in this Page from 2003, archived 2004:
web.archive.org...*/engforum.pravda.ru...

(2) Another script reaching the same point of the exponential curve right now, explained again first by End Times Prophet
www.abovetopsecret.com...
illuminati-overtime.blogspot.com...

Originally posted by MattMarriott
Production in the world's 2 largest oil fields rapidly coming to an end SOON

I understand with your anxiety my friend. Don't worry, there is one country which would fulfill the demand, Russia But what's biggest concern is about the shoot up of the Oil prices over $110, some say it might go till $140 by this year end. This is really frightening situation for all the countries

There is plenty of oil, not just in Russia, right here in the United States. Russia just happened to be the first country to catch on to the fact that oil of abiotic origin exists and can be tapped if you drill through basement rock instead of into sedimentary deposits.

Here in the US we have similar huge deep deposits of light sweet crude. We also have as much heavy sour crude in Southern California as the entire country of Venezuela.

There is a world-wide shortage of drilling rigs caused by the increase in demand from India and China, and particular rigs capable of drilling to the deep abiotic deposits as that technology has only recently been available outside Russia.

There is a lack of refinery capacity in the US that can handle heavy sour crude. That is, that has the cracking, reforming, and sulfur removal capability necessary to process that type of crude into usable distillates.

There is no lack of raw materials.

Update: Mexican oil exports

Mexican crude oil supplies to U.S. to be cut back by 184,000 bpd

The commercial division of Mexico's national oil company, Pemex PMI Comercio Internacional, has some bad news for U.S. oil consumers. Mexico will be sending America less oil this year - to the tune of 184,000 barrels per day. The cuts will continue for at least the next two years because production of crude in Mexico has been falling. Full Text

This news broke on Tuesday. Predictably, it didn't break mainstream, but you can rest assured; the folks that move prices were aware of this event well before it even went to press. People can blame the speculators, but historically, when prices rise, it stimulates new supply. Not this year...flat supply. At these prices, the current-account surplus' of OPEC producers must be over-flowing. I expect to see a good portion of those profits recycle through the general commodities complex...Gold...agriculture.

Higher oil prices, and prolonged inflationary recession may be the new paradigm folks.

Originally posted by Sukhoi50

Originally posted by MattMarriott
Production in the world's 2 largest oil fields rapidly coming to an end SOON

I understand with your anxiety my friend. Don't worry, there is one country which would fulfill the demand, Russia

But what's biggest concern is about the shoot up of the Oil prices over $110, some say it might go till $140 by this year end. This is really frightening situation for all the countries

Russia's oil is finite too. I do not believe the abiotic endless oil theory. They would not destroy Alberta in Canada, and consume massive amounts of natural gas and water to get the oil out of those tar sands if they could just drill deeper

www.bloomberg.com...

March 27 (Bloomberg) -- Russian oil output may fall this year for the first time in a decade as the world's second-biggest supplier struggles with rising costs and harder-to-reach fields, Natural Resources Minister Yuri Trutnev said.

FOUR years after this thread, when 34% no longer means much...
Cantarell (world's 3rd largest oil field) production down 34% in a single year
www.abovetopsecret.com...


[edit on 12-7-2008 by TruthIsNeverTooHorrible]

Originally posted by OBE1
This news broke on Tuesday. Predictably, it didn't break mainstream,

What breaks mainstream these days beside rapes, murders and wars and general lies related to the world economy?

but you can rest assured; the folks that move prices were aware of this event well before it even went to press. People can blame the speculators,

And i do, and they sure do.

but historically, when prices rise, it stimulates new supply.

Only when there is in fact a shortage of oil on the market. Since global markets are well supplied new supply would not effect the picture much. What we should rather ask is why oil are being bought up at such high prices when there are no shortages?

Not this year...flat supply.

What does it matter if supply is flat when demand , discounting the massive ongoing stockpiling, is declining?

At these prices, the current-account surplus' of OPEC producers must be over-flowing.

Sure they are and Russia is smiling broadly as well. Fact is various OPEC officials have stated that they are in fact happy with a price range somewhere been 30-50 dollars which apparently allows them sufficient profit. The current profit taking is not something OPEC caused and not something OPEC can prevent by supplying more knowing that 'accidents' keep hitting countries that attempts to flood the market with oil.

I expect to see a good portion of those profits recycle through the general commodities complex...Gold...agriculture.

Or just reinvested by the true profit takers into renewed speculation in the derivatives market?

Higher oil prices, and prolonged inflationary recession may be the new paradigm folks.

That sure is the intent if one looks at how they keep printing money ( the only way to cause inflation) to shore up world markets in chaos due to out of control speculation against commodities such as oil and real estate.

Stellar

Originally posted by pai mei
Russia's oil is finite too. I do not believe the abiotic endless oil theory.

That would be logical if you don't so no need to tells us about what you think about abiotic oil.

They would not destroy Alberta in Canada, and consume massive amounts of natural gas and water to get the oil out of those tar sands if they could just drill deeper

'They' would do anything they like if the profits were right and given that tar sands production were profitable at 30 USD ranges it's no surprise that it would draw investment.

www.bloomberg.com...

March 27 (Bloomberg) -- Russian oil output may fall this year for the first time in a decade as the world's second-biggest supplier struggles with rising costs and harder-to-reach fields, Natural Resources Minister Yuri Trutnev said.

But there's one place -- Russia -- where reserve estimates just seem to go up and up. In its annual statistical survey of world energy, BP PLC (BP ) has recently revised its estimates of Russia's total proven oil reserves to 69.1 billion barrels, 6% of the world's total, up from 45 billion bbl. in 2001. But according to auditors with a worm's-eye view of what's actually going on in the depths of Siberia, such estimates may just scratch the surface of Russia's real potential. According to a recent study by Dallas-based energy reserve auditors DeGolyer & MacNaughton, whose clients include leading Russian energy companies such as Gazprom and Yukos, Russia's true recoverable reserves are between 150 billion bbl. and 200 billion bbl. That's up from industry estimates of 100 billion bbl. a few years ago.

Why such a big gap in the estimates? Because it's one thing to be sitting on oil reserves, another to be able to exploit them commercially. In Russia's main oil-producing region in western Siberia, proven reserves represent just 18% to 24% of all oil in the ground, in contrast to about 45% in Western oil-producing regions such as Alaska and the North Sea. But as Russian oil companies adopt technologies, such as horizontal wells and computerized reservoir management systems, the estimated recovery rates are being revised. Thanks to new techniques, which make it possible to obtain oil even from apparently depleted fields, Russian oil companies already have managed to boost their output by 50% since 1998. "The biggest thing is the [new] technology being deployed in western Siberia. The results are beginning to show," says Martin Wiewiorowski, senior vice-president of DeGolyer & MacNaughton in Moscow.

www.businessweek.com...

Water everywhere and yet no one is drowning. There is enough oil on world markets as it is and STUPIDLY producing oil faster than you already are , potentially resulting in a decline in prices, just depletes fields faster. A proper development of Iraqi's reserves could not only reduce oil prices by two thirds but will easily replace declining production in either Russia or Saudi Arabia for decades to come.

I am so sick and tired of this peak oil nonsense!

Stellar

This is only a noob test of the ats upload system. Disregard any ACTUAL content please. Sorry to mess wit yer tread...