Chevy to the Levee, but the Levee is Dry

You might assume that all members of OPEC, a cartel that supplies nearly a third of the world’s crude, would be a net oil exporter.

But unfortunately for Indonesia, this isn’t the case.

According to BP Migas, an upstream oil and gas executing body in Indonesia, daily oil production is currently 200,000 barrels short of demand.

That’s not good. . . . And it gets worse!

The future doesn’t look much brighter. BP Migas is predicting consistent shortfalls up through 2009, when production shortages could push past half a million barrels!

Energy and Capital