[The_Virginian]

OK what about the 30 or so billion Barrels eqv. discovered off the coast of BRAZIL recently?


Even if it takes 5 years, it will soften the impact, so will a global depression!

[dohboi]

sh wrote (with some creative editing, italicized):

"in another 5-6 years, we may see Brazil start pumping out some oil out of their big behinds."

This whole scam has been exposed already on another thread.

[TheDude]

Bloomberg

$this->bbcode_second_pass_quote('', 'B')y Torrey Clark and Ellen Pinchuk

May 27 (Bloomberg) -- Russia's oil production may rise to 12 million barrels a day after Prime Minister Vladimir Putin's government eases taxes, billionaire Chalva Tchigirinski said.

``Only Putin could do it,'' Tchigirinski, an owner of London- listed Sibir Energy Plc, said today in a Bloomberg Television interview. ``He's now in a position to take decisions that are bureaucratically long, painful and undoable in Russia.''

Putin yesterday approved a tax-cut plan to stimulate oil production that may be sent to lawmakers this week. Oil output in Russia, the world's biggest exporter after Saudi Arabia, fell to 9.72 million barrels a day in April, its lowest level in 18 months, as costs rose to develop aging fields and to pursue new projects in increasingly remote areas.

``Russia has tremendous oil reserves and if the government will behave on the tax side there's room to increase production,'' Tchigirinski, speaking in English, said today in Moscow. ``The government understands what's in the interest of the industry now and this industry is vital.''

[Mettezz]

Yeah right, The time that i believe compagnies, politicians, economists, oil compagnies, banks and the news has long gone by.

[Cashmere]

OP - title is misleading.

[misterno]

I don't understand this. They already reported production going down due to aging wells. 1 month later, they are saying they will increase the production. Something does not make sense.

How can you increase the oil production on wells that started to decline last year? Who and why are they fooling?

[zoidberg]

Man he's not even pretending that doesnt have absolute decision making control in Russia.

I like him. I wish the West had some Putin-esque leaders.

[TheDude]

$this->bbcode_second_pass_quote('Cashmere', 'O')P - title is misleading.

[JPL]

I think they are just planning to raise/retain money so they can drill lots of new prospects. We have been here before...

JP

[Cashmere]

$this->bbcode_second_pass_quote('', 'P')utin yesterday approved a tax-cut plan to stimulate oil production that may be sent to lawmakers this week.

[idiom]

The idea is that Russia has peaked prematurely due to really bad management. Clearing out the idiots running the show and tidying up the market signalling system, getting overdue investments done may see Russias output increase or at least plateau until it hits its geological peak.

Thats what they reckon anyway.

[M_B_S]

Severodvinsk, Russia (AFP)--11Jul2008

Russian Prime Minister Vladimir Putin on Friday expressed concern over
the country's declining oil production and said the sector was at a "critical
juncture." Putin also said, however, that Russia would not engage in "economic
egoism" and would continue to fulfill export contracts even as it met the
energy needs of its own growing economy.

"The prospects are good but some tendencies worry us. The rate of growth
of production has gone down...In the first quarter of this year, production
even declined 0.3%," Putin told ministers and oil executives.....
http://www.platts.com/HOME/News/8876533 ... &undefined

*****************************************************


PEAK OIL and ELM

two horses of the apocalypse for Europe and in special for Germany

Russias oil export decline to Germany was 8% in 2008 (jan-mai). Russia is Germanys most important oil deliverer (~30%)

http://www.bafa.de/bafa/de/energie/roho ... 8/mai.html

[dissident]

Time to get over the nuclear energy phobia. This time around real effort should be made to build fast neutron reactors.

[lorenzo]

$this->bbcode_second_pass_quote('M_B_S', '
')Russias oil export decline to Germany was 8% in 2008 (jan-mai). Russia is Germanys most important oil deliverer (~30%)

http://www.bafa.de/bafa/de/energie/roho ... 8/mai.html

[TreeFarmer]

Didn't he out right steal from, imprison, and use government leverage to force out everyone from the oil industry who was not one of his cronies?

No wonder production is falling, those now in control stole there way into the positions of leadership.

TF

[M_B_S]

$this->bbcode_second_pass_quote('lorenzo', 'h')ttp://www.bafa.de/bafa/de/energie/rohoel/energieinfo/2008/mai.html But that's the result of lower demand, not of lack of a supplies, isn't it?

[burtonridr]

This may be old news.... but new to me, so I will post it here.

$this->bbcode_second_pass_quote('', 'R')ussia, the world’s second-largest oil exporter, saw production fall this year as companies struggle under the burden of high oil taxes. Parliament approved a raft of tax breaks for the oil sector last week, starting from next year, after intense lobbying from oil companies.

Full Article Here

[JohnnyMac]

Some of you might be interested in the book Russian Oil Supply: Performance and Prospects by John Grace.

http://www.amazon.com/Russian-Oil-Suppl ... 0197300308

[Russian_Cowboy]

$this->bbcode_second_pass_quote('burtonridr', 'T')his may be old news.... but new to me, so I will post it here.

$this->bbcode_second_pass_quote('', 'R')ussia, the world’s second-largest oil exporter, saw production fall this year as companies struggle under the burden of high oil taxes. Parliament approved a raft of tax breaks for the oil sector last week, starting from next year, after intense lobbying from oil companies.

Full Article Here

[vision-master]

$this->bbcode_second_pass_quote('', 'M')OSCOW — The Russian oil boom, which has produced a gusher of cash, political power and an opulent elite — and has helped fuel the country's renewed assertiveness in Georgia and elsewhere — is on shakier ground than officials in Moscow would like to admit.

Most of the oil produced after the country's 1998 financial collapse has come from drilling and re-drilling old Soviet oil fields with more advanced equipment — squeezing more black gold out of the same ground — and efforts to develop new fields have been slow or non-existent.

That strategy is potentially disastrous, said Valery Kryukov, who researches oil companies in western Siberia for a government-funded think tank.

"If the situation which exists now stays the same, oil production will start to decline seriously in two years," Kryukov said in a phone interview from his offices in the city of Novosibirsk.