[3aidlillahi]

Also, weren't there just reports out over the past month that they were going to add $120 billion in investments over the next decade or so? I thought we've had those discussions here. What's up with the massive jump of ≈100%? Seems like it's just trying to calm people down. "Don't worry, we're injecting $xxx billion to produce more. Keep driving gas cars."

[copious.abundance]

Should emphasize this. It appears this study is talking about additional capacity, not necessarily "new" capacity per se.
$this->bbcode_second_pass_quote('', '�')��Recent analysis of total global oil production and development projects that world crude production capacity from all sources has the potential to rise from 87 million barrels per day to as much as 108 million by 2015,” said Emil Rademeyer, director of Proleads.

[3aidlillahi]

$this->bbcode_second_pass_quote('OilFinder2', 'S')hould emphasize this. It appears this study is talking about additional capacity, not necessarily "new" capacity per se.
$this->bbcode_second_pass_quote('', '�')��Recent analysis of total global oil production and development projects that world crude production capacity from all sources has the potential to rise from 87 million barrels per day to as much as 108 million by 2015,” said Emil Rademeyer, director of Proleads.

[TheDude]

$this->bbcode_second_pass_quote('', 'B')etween this year and 2009 alone, Saudi Arabia has put in place projects with target added production capacity of more than 1.6 million barrels a day.

[SILENTTODD]

Reminds me of a favorite saying of my late mother. "If wishes were horses, beggers would ride"!

[Gerben]

It looks like their software does not include decline rates.

[dohboi]

There are a number of mega-projects due to come on line in the next five to ten years. If they all come out as projected they may add a significant bump to the bumpy plateau.

If.

Also, oil goes through boom-bust cycles, like many extractive industries. Every 10-15 years since the forties there has been a surge of discoveries that coincides with a drop in prices resulting it a fall-off of investment in new projects... As everyone here knows, each surge in production since the sixties has produced less than the previous surge.

The last peak in production was the late nineties/early 2000's that corresponded with the low prices of that period so we are due for another surge. Since the lows of the late nineties prices have increased ten-twenty fold. It would be surprising if such a price increase did not spur some investment. We shall see whether the new investments produce enough oil to outweigh the huge declines elsewhere.

[frankthetank]

Paper barrels... Got to love them. Reminds me of paper silver.

[Starvid]

$this->bbcode_second_pass_quote('OilFinder2', 'S')hould emphasize this. It appears this study is talking about additional capacity, not necessarily "new" capacity per se.
$this->bbcode_second_pass_quote('', '�')��Recent analysis of total global oil production and development projects that world crude production capacity from all sources has the potential to rise from 87 million barrels per day to as much as 108 million by 2015,” said Emil Rademeyer, director of Proleads.

[3aidlillahi]

$this->bbcode_second_pass_quote('', '
')Some sense please. Sure, it has the "potential" to reach 108 mbpd just like I have the "potential" of becoming king of Sweden.

[MD]

$this->bbcode_second_pass_quote('TheDude', '.').. Reams of anecdotal evidence suggest that, at the very least, Aramco are intent on turning the Saudi desert into a lower-48 style pincushion for some reason. Why might that be?

[DeepOil]

This is about as likely as the Patriots winning the Super Bowl without Tom Brady.

[shortonoil]

Man to land on the moon in 2015 wearing pink pajamas with bunny feet
Persian Gulf nations to add 10 million bpd capacity by 2015

{Equivalent statements.}

[Sixstrings]

http://www.dubai-architecture.info/DUB-GAL1.htm

I've read bits and pieces about Dubai for a while, this site really pulls it all together.

This site deals with the downsides of Dubai. I found the foreign slave labor system particularly repulsive. They have foreign workers sign ten year contracts, then take their passports when they get there, and don't pay what they promised. So the laborers are trapped -- they'll never make enough money to leave, and can't cuz the bosses have their passports anyway. Yikes.
link

This place is truly bizarre..

[Daniel_Plainview]

Pure madness.

[ohanian]

Wow!

If you built, they will cum.

.

[mrobert]

That will require one huge bailout program

[Windmills]

I find the US slave labor program a bit repulsive, too. Although I think we call them "illegal immigrants" instead of wage slaves.

[ColossalContrarian]

$this->bbcode_second_pass_quote('Windmills', 'I') find the US slave labor program a bit repulsive, too. Although I think we call them "illegal immigrants" instead of wage slaves.

[WyoDutch]

I thought you said "DUBYA is nuts".