[clv101]

$this->bbcode_second_pass_quote('Sparaxis', 'O')ne thing has bothered me about this report. It claims "In 2000, non-OPEC crude output was 66 mb/d and....in 2004 with production at 70 mb/d..."

What are they referring to? In the same report, p. 29, in the summary table of world oil supply, non-OPEC production is shown as 49.81 mmbd in 2004.

That's the correct figure for non-OPEC production (OPEC is now at about 30 mmbd, NGLs, etc. being the rest). So what is the 70 mb/d? None of the articles I've seen referring to this explain this discrepancy.

[MicroHydro]

Market behavior suggests that sweet light has peaked = no more cheap petrol. My 2011 WTI futures topped $62 yesterday. So the market doesn't think oil will ever be significantly below $60 again. What more does one need to declare that the peak oil phenomenon has arrived?

[Tanada]

Learning from the Aug 2005 OPEC report through this thread has been a mildly depressing surprise. I truely beleived that we had not yet hit the wall on Light Sweet Crude production, but if we truely have had a 2mbd depletion defecit over the last 4 years then we are already here. We will keep increasing total oil for a bit as the ratio of Heavy oil's continue to grow, but unless TDP really can increase the light fraction of heavy oil we are screwed.

Hope to God the gov keeps its hands off and lets the price keep going up, it is the only thing that will spur alternatives and true demand destruction.

[Armageddon]

i think PO will be postponed because these hurricanes are going to cause energy shortages , which will slow demand, which will kill the economy. if demands slows, and considering the HUGE debt people have built up, global depression is inevitable.

[NEOPO]

I think that is wishful PO thinking

As long as we can make a buck man.
Take away the potential for profit and then our growth based fiat economy is screwed.
Ok with inflation perhaps its only the illusion of "making a buck"!!!!
Right now there are mega contracts being written and large players waiting to bid on them and even more smaller players waiting to sub those jobs out etc etc.

For the skilled tradespeople of the US - willing to travel or relocate - there is rarely this much opportunity.
In the next several years Bush has an easy fix for his parties current dismal approval ratings = print a shit load of money and rebuild.
A republican will get elected and all will be well in the neocon world.

Sure, I say we should not rebuild NO and we should relocate some refineries yet both you and I know what they are going to do.

Are you a PO believing skilled trades person??
If so, See ya down south maybe!!!
I will be the contractor with the "got oil?" t shirt

[NEOPO]

I am sure this thread will be moved to the katrina/rita section promptly by our ever vigilant, sometimes tough, usually thoughtful and thorough elite anti elitist PO moderators