and so it begins

by **Eli** » Fri 29 Jul 2005, 11:15:45

Ok Exxon, Shell, Chevron , might as well through in Pemex too all posting signifigant declines in the same quater.

So what is the total production of these majors? How much is the decline in total production including the gain made by Bp?
Are we screwed yet?

This is a total friggin change from the way the oil market used to work. These guys are announcing that there production and exploration is down signifigantly but profits are way up. Used to be that if they said our production is down the stock price would drop now production goes down and they make more money. I wonder what changed?

by **teemu** » Fri 29 Jul 2005, 11:53:38

$this->bbcode_second_pass_quote('Eli', 'O')k Exxon, Shell, Chevron , might as well through in Pemex too all posting signifigant declines in the same quater.

by **Eli** » Fri 29 Jul 2005, 12:26:25

Lets also not forget that Hugo Chavez is putting the screws to the majors who produce oil in Venezuela which has the potential to put a huge dent in there investment and production there.

The only hope is in Russian production and for Saudi Arabia to increase production which is really no hope at all. From all the info we have.

I think we are post peak in a big way it just we are in free fall after going over the peak and have yet to hit bottom.

by **FoxV** » Fri 29 Jul 2005, 13:40:38

$this->bbcode_second_pass_quote('Eli', 'H')ow much is the decline in total production including the gain made by Bp?

by **KevO** » Sat 13 Aug 2005, 06:52:27

$this->bbcode_second_pass_quote('SHiFTY', '
')
I think the peak may occur in 2008

by **turmoil** » Sat 13 Aug 2005, 06:56:51

oh Peak Oil, why must thou hasten your arrival? Must you rush us into certain death? Give me SUVs or give me death!!

by **SHiFTY** » Sat 13 Aug 2005, 07:32:06

I actually have revised my opinion slightly- it definitely seems as if we are near non-opec peak. When oil companies actually state this in their reports, thats enough evidence for me (I just read that exxon mobil 2030 one)... I am not a total cornucopian, and I will change my mind shown some facts.

However it is definitely not clear that this is max global production- it could be a long transitionary period while the Middle East vastly increases investment and production.

I still think that total peak will be a decent way off, and that it may be more likely to be a plateau with a gradual decline.

and so it begins

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