![]() | DrumBeat: November 16, 2006 | The Oil Drum | IHS Data Suggest Kuwaiti and Global Proved Oil Reserves Significantly Lower Than BP Estimates | ![]() |
198 comments on DrumBeat: November 17, 2006
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198 comments on DrumBeat: November 17, 2006
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GAIA Host Collective
Thanks
Nice work, btw.
@ nth. If you're reading, PO & GW are not "beliefs, because they are theories" . The broader scientific community has already ambraced these events as FACTS.
I ran out on you the other day, but not your little monkey. I never abandon four year olds. And I never will.
Trust me. I need some down time. I try to hide, but it is getting harder. I need to sleep. My friends are good. But I run so much. It is killimg me. I am not long for this world.
Obviously when I'm dead I can't prove it. I can taste the salt im my tears.Count it between what CERA says and what Dave says. Running average. If I'm alive I'll talk. Nobody knows. They just guess. You know that.
The safest place for Paulus P junior and all his sisters is an island called Mykonos. Paris Hilton and all the smartest people in the world know that. That's why they all congrregate there.
Once again, take your time.
Please let me know as I don't have a clue to the answer.
Russia is beginning to softly co-ordinate its export policy with OPEC.
An official SPR in Russia doesn't exist yet. But you have to take into account the fact that a pipe has a volume. The existing oil pipeline system is the best SPR.
A 1000 km pipe with 1m diameter has a volume of around 5 million barrels. Some abandoned parts of the system (for example the line to Lithuania) could be used to store excessive supply. So, OAO Transneft can fill in its system with marginal oil for a long time. This is so called technical oil.
By reducing the export of oil to the `near abroad' - Lithuania, Belarus and Ukraine - Russia achieves two goals simultaneously: to exert political and economic pressure onto not-fully-loyal countries and to synchronize the export policy with OPEC.
Let me speculate a little bit. Since I am from Eastern Europe, I've seen this many times and I think I know what it is. 1.5 mln bpd missing? What's the problem really? These countries are full of people officially earning $200/month who are driving BMW's to their cottages. Most likely this oil is simply stolen or unaccounted one way or the other - somewhere down the pipeline some people are earning good money to shut their eyes for the oil which is being sent with overnight trains to China or Kazahstan (to be reexported within some very clever and tricky schema) or, in a refined form is simply drained down who knows where by who knows whom. Now if you think that such a yelling discrepancy should be ringing someones bells you would be wrong again. Even those that are not corrupted at the upper level know everything about it and also know they can not possibly fight it.
I like your hypothesis. It feels good. It's appealing in many ways. It fits much of what I know about how the world works.
Problem is without a serious prosecutorial investigation it's only a hunch. No way to verify. We may never know.
But I do trust the Oily One to keep on top of this.
I don't even have any hunches. I just don't know. I presented data that was freely available. According to what I saw, there are no "missing barrels" - I mean within a certain believable margin of error. I just presented what I thought was a missing "buffer of credibility." Clearly certain people never looked at the actual data. Those certain people will have to come forth and clear their names. Then they will have have to clear mine. I realize it will be painful. I can guarrantee the alternatives will be worse.
I can pipe in that when you've got a big enough chart it is just not going to justify and balance in all directions and little errors will echo.
This looks like it could be bigger than that but...
The big commodities in world trade are guns, drugs, oil, and coffee. I don't even think the coffee numbers are always believable.
But stealing is a constant. It can't alter the volume of export, at least not in millions of barrels.
Yes, Sorry, GZ. I didn't attribute anything, did I? Everything is BP numbers. From The last two - 2006(2005) and 2005(2004). I just went through it and verified.
The 4% was something I added. I looked at consumption the last four years (on right) and saw an average and a high (2.5%) and threw in 4% as a gift. More on that later. Should we call that liberal?
I've developed a preference for yearly historical numbers vs. revision-prone monthly's - although I do dabble a bit.
I try hard not to fall into the C+C trap. In the end I don't think it matters much.
This was not something I threw together. I worked on this for a long time. I'm going back to my history books, my family, and my DVDs. I particulary like "The Prize" and this British copy of 24 - MI5.
I've deliberately not commented on what this means for several reasons. Most of which I will probably never elaborate on. But for now suffice it to say I am glad you read this. Ask and you shall receive.
[a minor point: the TOD image linked to your blog and not the .png file]
My blog is a mess. I crucified myself on the post-and-see-your-right column stuff go down bottom - cross yesterday. I can fix it. I'm just too lazy. I wanna read some more TOD instead.
The "other charts" link on right hits my Flickr account. I'll update that when I think of it next. Thanks for reading.
I guess they call this blog-whoring. But I don't do ads. In my private life I have multi-millionaires asking my advice on promoting their websites. I never tell them. I think it is bad enough somebody gave them Blackberries and Nuclear weapons. WTF? I gotta save the world myself?
I'm not sure what will emerge when I'm done digesting.
[it's not you, dummy]
As a huge fan of popular culture, I cannot help but bring up one of my favorite TV shows. True it is not really TV, or a show. It's HBO, and high drama.
Eschylus would be proud. 'Deadwood' is truly entertaining. It is really fucking good. And when I say fucking good. I mean fucking good.
I can't decide which is better. Deadwood or MI5. These writers. They have my applause.
Back to the ambiguous part. I would hope you would apply the same logic to Westexas' oft repeated numbers. Intriguing is a good word.
Thanksgiving is my favorite day. Christmas used to be. My birthday before that. Thanksgiving stands the test of time. And I can actually change it. My family and my friends. We are hardcore.
(next time I take 2nd look before commenting - promise!)
What you call "Missing barrels" corresponds neatly with "Product exports" which you have just 2 cells below. The "missing barrels" are simply the input for the refinaries for products that go for exports.
Take a third look. I'm not making this up.
The barrels are product not oil. But they are the same thing, yet nobody counts them that way.
The only question left - if you buy my (BP's)numbers - is why.
WHY?
I don't really see where are you headed with those little games you're playing. If your goal was to test the critical thinking of the people here, I suggest you think again. This forum is already pretty much established and basically we (or at least I) assume that if somebody is posting something it does not contain little traps, tests or puzzles.
Now if you are willing to get down to us the mortals, and express in a normal and understandable language the problem that is bothering there is a slight chance that you may also find the correct answers. Some people call it discussion. Otherwise it is Garbage In Garbage Out you know.
Production=Internal consumption + Crude export + Product export.
I read some of your Thats it I'm out piece - so was that written by you or Roger? At any rate at 4500 words - a bit long to read in a oner- so I copied it for future reference.
Now returning to your table here. Would you like to explain what you see going on. Bringing product exports into the equation - obviously crucial - are you saying these have been overlooked before?
And whats all the stuff with BP? And 1347, 5374 5093 1702 etc appearing all over the table. Sorry, I may be in moron mode here - some explanation please.
And you were asking questions about the very near future - not sure if those were dirceted at me or not. I have three comments about our near future:
- Our politicians will say anything on climate and energy to get re-elected.
- Our lives will probably continue as before for a fair while yet - whilst poor folks and poor countries all over the world plunge into energy poverty
- Our markets and energy supplies are IMO metastable - may be knocked over, with huge consequences, by the actions of one person?
Here's a great picture from a presentation by Chris Smith - contrails above the N Sea coalsecing to form high altitude cirus clouds that force global warming.http://www.energyinst.org.uk/index.cfm?PageID=1106
Now, all our politiciancs support expansion of all airports in the UK - even the guys who claim to be green - all in the interest of future HC based expansion of our economy. I've tried to convey reasonable arguments to these people - no luck so far though.
I spent about 6 hours yesterday tryig to reconcile BP UK oil production figures with those quoted by the DTI. I had just spent the whole of the previous day making a stacked oil production chart for UK off shore fields and was somewhat dismayed to see that the 1999 total was 2.5 million bpd and not 2.9 - which we all know was the peak.
Some of this is due to on-shore production. The DTI were really helpful in getting to the bottom of this. Apparently there are thousands of tons of liquids arrive onshore every day from the gas pipelines and these are not attibutable to any field. These are recorded in the DTI's Brown Book but not on their web site.
Also, the DTI quote figures in M3 and tonnes - I always use the M3 on the basis that most of us here work in bbls - but of course in working with liquids mass is a much safer footing. Converting from mass to volume requires knowledge of density - and this of course varies enormously depending on the liquid and temperature. Using the DTI tonnes figures, and data from the Brown Book you get to the exact figures quoted by BP for oil in 1999. It is much more difficult to reconcile the figures using the M3 data.
So what am I saying? We have to be wary of getting too bogged down in detail when it is the big picture that counts.
What is the relative strength of each of these effects?
As far as viewing while flying it is amazing how many of the jet trails...I mean roads of the sky, are everywhere.