The Oil Drum | An expanded version of what I meant to say on the Beeb

11 comments on An expanded version of what I meant to say on the Beeb

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Anonymous (not verified) on August 29, 2005 - 10:33pm

In a way, Mr. Lynch is correct, it's just that I believe the crude inventories are mainly the wrong kind of crude: heavy/sour. Valero's refinery, which is adept at this more difficult refining (v. lighter/sweeter crudes) will be sorely missed. Light/sweet crude, which requires less volume than heavy/sour to make equivalent volumes of light and middle distillates, is in very short supply, and I believe has peaked. My Lynch has also has conveniently left out the fact that gasoline stocks are quite low at this time... One should keep in mind Mr. Lynch has done work for the short-sellers and the Saudis. In my opinion, his words should be understood in that context, and mainly serve only as an attempt to talk the market down.

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JLA on August 30, 2005 - 5:22am

Very interesting take on Lynch. I don't believe he's stupid, so you have to wonder whether he simply has an agenda. If the Saudi's and short sellers are signing his paychecks, that might explain things.

Do you have a link/confirmation of clientele?

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Sam Foucher on August 30, 2005 - 7:14am

I think that Mr. Lynch is biaised but definitively not stupid! who's not biaised anyway in this business! There is an interesting discussion between Lynch (aka spikre) and posters at PO.com: Michael Lynch - Disputing Peak Oil
His criticism of the PO proponents should be carefully analyzed and not just simply dismissed.

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Anonymous (not verified) on August 30, 2005 - 12:04pm

Here's your confirmation:

"Lynch's principal role seemed to be one of resuscitating the audience after Campbell 's address. He backed up the Saudi Aramco claim that its definition of "oil initially in place" (according to Society of Petroleum Engineers, World Petroleum Congress and the American Association of Petroleum Geologists) is the "volume or the amount of oil that's presently in the subsurface." Lynch also disclosed during the talk that he has worked off and on for the Saudis and does work in the short sell market, saying "I'm sure there'll be questions about that." Curiously, there were none. "

http://www.energybulletin.net/248.html

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11 comments on An expanded version of what I meant to say on the Beeb

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