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mw on August 25, 2005 - 4:55pm Permalink | Subthread | Comments top
Unrelated I know, but... the Indonesians are having a hard time replacing reserves, whatever the excuse may be... 5.7% is a healthy cut!

Indonesia cuts oil output forecast

August 26 2005

JAKARTA, Thurs: Indonesia, South-East Asia's biggest crude oil producer, cut its oil production forecast 5.7 per cent to 1.06 million barrels a day this year, after rains disrupted drilling at main fields in Sumatera.

The country has missed its initial target of 1.13 million barrels a day because of a production decline at fields operated by Chevron Corp's unit PT Caltex Pacific Indonesia, PT Medco Energi Internasional, and state oil company PT Pertamina, Energy and Mineral Resources Minister Purnomo Yusgiantoro said yesterday.

"Our oil and condensates output will range between 1.06 million and 1.08 barrels a day," Purnomo said in Jakarta.

http://www.btimes.com.my/Friday/Nation/20050825213231

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Donal on August 25, 2005 - 6:25pm Permalink | Subthread | Parent | Comments top
Also unrelated, but I just saw Trent Lott, of all people, on the Daily Show, mentioning high gas prices. Lott said that people were hurting but of course they're driving these hog SUVs, so do we produce more or consume less?
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8 comments on Econbrowser: The PR of PO

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