Here is someone who really knows about oil discussing oil production, etc.
It's a WMV File
However, this illustrates my point from before, that the additional capacity from Saudi Arabia is heavy sour crude so its less attractive to most refiners other then Valero, which is using that as a corporate strategy.
That doesn't mean oil production has permanently peaked, as the very low oil prices for decades meant exploration, coal liquification, tar sands, etc. weren't worth doing. It's never been that we'll run out of oil, but rather that we'll run out of cheap oil.
Platts has a good discussion of this here though you'll have to register to read the whole article. Tip: You have to click the headers at the top of the article if you want to read the whole thing.
Comments (3)
peak oil 2005? peak oil 2020? global warming makes this irrelevant. incipit katrina.
also expensive gas will really hurt america, a bloated innefficient country of spineless SUV drivers who think we are spreading magic pixie dust in iraq.
china can develope energy efficient. the US is bogged down in iraq, greedy yuppie america destroyed itself.
ernie
Posted by ernieervin | September 16, 2005 9:35 AM
Posted on September 16, 2005 09:35
Actually, all the climatologists agree Global Warming had nothing to do with Katrina.
You need to read a better class of paper ernie.
Posted by Opinionated Bastard![[TypeKey Profile Page]](http://www.opinionatedbastard.com/nav-commenters.gif)
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September 16, 2005 9:57 AM
Posted on September 16, 2005 09:57
climatology is an uncertain affair but there exists a near consensus among these nerds that climate change provides fuel for hurricanes which will increase their intensity and magnitude. so, you can use pascals wager to figure this one out, or even the precautionary principle…every person, even good public choice rational economic actors should be able to figure out this one. but you dont, thats telling.
ernie
Posted by ernie | September 18, 2005 8:37 PM
Posted on September 18, 2005 20:37