[Keith_McClary]

$this->bbcode_second_pass_quote('OilFinder2', 'T')here's no point in Saudi Arabia (or anyone else) to pump a lot of extra oil ... - they simply didn't have enough customers for an overpriced product. So what looked like a flattening of production was due to a flattening of demand.

[Pops]

$this->bbcode_second_pass_quote('OilFinder2', ' ')There's no point in Saudi Arabia (or anyone else) to pump a lot of extra oil just to tell the peakers "yuck yuck" - they simply didn't have enough customers for an overpriced product.

[peeker01]

Traders, Pops, I've been trying to tell you, it's futures traders.

http://hsgac.senate.gov/public/_files/052008Masters.pdf

$this->bbcode_second_pass_quote('Pops', 'B')asically then for that time period from say '03 to '08 as the price was rising 100% per year, the "law" of supply and demand was repealed. Producers had plenty more oil but just didn't feel like selling at near all-time real record prices. Wow!

[copious.abundance]

$this->bbcode_second_pass_quote('Pops', 'A')ll this time I was under the impression that supply greater than demand brought prices down ...

[copious.abundance]

$this->bbcode_second_pass_quote('Pops', 'A')ll this time I was under the impression that supply greater than demand brought prices down but now you're saying that isn't the case, when the market is oversupplied the price tends to rise!

So... when oil production declines ... The price will get lower!!!

[copious.abundance]

$this->bbcode_second_pass_quote('Keith_McClary', 'B')TW, I asked in an edit above:
Also, since you mention EROEI in your sig, do you know of any charts of NET oil production (i.e., after subtracting the oil equivalent energy used to produce it)?

[Pops]

$this->bbcode_second_pass_quote('OilFinder2', 'I') "feel" like selling my 2008 Ford Focus for $100,000. Wanna buy it from me?

[TheDude]

$this->bbcode_second_pass_quote('OilFinder2', ' ')How come the production trend since 1983 is continuing?

$this->bbcode_second_pass_quote('TheDude', '')$this->bbcode_second_pass_quote('OilFinder2', ' ')How come the production trend since 1983 is continuing?

$this->bbcode_second_pass_quote('Pops', '')$this->bbcode_second_pass_quote('OilFinder2', 'I') "feel" like selling my 2008 Ford Focus for $100,000. Wanna buy it from me?

[Outcast_Searcher]

$this->bbcode_second_pass_quote('Pops', '
')But, you are arguing that oil does not act like all other commodities where more supply brings down price, you say oil price is high even though the market is supplied and more supply would not change the price.

Tell me you think supply and demand applies to every traded commodity except oil?

[TheDude]

That's rich, I get the exact opposite conclusion:



My graph's got that extra bit of resolution that goes the extra mile in illustrating a point. And of course temporary trends mean nothing, eh?



Still can't figure out to slap a trend line on a chart? I just did these with MS paint and a bit of copy/paste for gridlines, nothing scientific.

Cool, searching for 'World Oil Production' on Google Images one of the first hits is some of my work:



Wonder what the head count is shaping up to be this year. I imagine now OF2 will link to some piece on creating new producing nations.

$this->bbcode_second_pass_quote('pstarr', 'H')ey welcome back. Just in time for the crap storm. But you must be careful not to annoy Oily, otherwise he will stop finding oil for us.

[peeker01]

I been wondering about that. I came here to learn more about PO, but it is hardly being discussed
much anymore. Any theories on that........

[copious.abundance]

$this->bbcode_second_pass_quote('OilFinder2', 'A')ctually, if you look at the longer-term chart you'll notice c&c production is more-or-less continuing to follow the trajectory it's been following since about 1983.

[copious.abundance]

My chart shows we are right on schedule. So THERE!
$this->bbcode_second_pass_quote('OilFinder2', '[')img]http://img835.imageshack.us/img835/7746/oilproduction.gif[/img]