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190 comments on DrumBeat: June 13, 2006

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bradshaw on June 13, 2006 - 9:53am Permalink | Subthread | Parent | Comments top
wstephens,

Where did these numbers come from? 9 MBD, IEA says 9.35, EIA I think says 9.2... somewhere else I've heard it's less... why the disparity in numbers?

-C.

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Sunspot on June 13, 2006 - 10:38am Permalink | Subthread | Parent | Comments top
and I'm sure I saw 9.1 in a couple of places.  Whatever, look like SA is past peak.  And, as Simmons says, when SA is past peak the world is past peak.
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wstephens on June 13, 2006 - 10:44am Permalink | Subthread | Parent | Comments top
Petrologistics is apparently a controversial "oil spying" organization. Critiqued by Simmons, but others believe the networks of oil spooks exist. The news release is on the Wall Street Journal online Dow Jones Newswires section under "Energy Industry".

The same article has the following quote "Saudi Oil Minister Ali Naimi, in an interview with The Wall Street Journal published last week, said the country's April output averaged 9.1 million b/d, its lowest level since January 2005."

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bradshaw on June 13, 2006 - 10:45am Permalink | Subthread | Parent | Comments top
Ah, I see.  Thank You kindly sir.

-C.

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wstephens on June 13, 2006 - 10:57am Permalink | Subthread | Parent | Comments top
Further quotes from article about Petrologistics head Conrad Gerber:

Gerber said Iran was also continuing to limit its supplies so as not to be forced to sell its oil at a steeper discount, and in May produced 3.85 million b/d.

"The Iranians don't want to discount their crude and they're hoping that the differentials will go up if they withhold some of it," he said.

Iran currently has around 16 million barrels of its crude stored on its own fleet of oil tankers rather than lower the price on the international market, Gerber added.

"They're running out of storage and can't continue to do this for much longer and could be forced to shut the fields in," he said

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Sunspot on June 13, 2006 - 11:31am Permalink | Subthread | Parent | Comments top
Ah, my favorite conspiracy theory, blame the Ay-rabs.
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wstephens on June 13, 2006 - 11:40am Permalink | Subthread | Parent | Comments top
So this is 4 days of Iranian oil or $1.1B of oil. Could they have been trying to play a game with the international nuclear negotitions? If true, will they shut oil in? Will there be a "breakthru" on the negotiations? Boy, this is entertaining...why does anyone needs "reality" shows???
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bradshaw on June 13, 2006 - 11:44am Permalink | Subthread | Parent | Comments top
For real, news is more entertaining these days.  Look at oil over there to the right... dropping...dropping...thunk... all we need is a few more near miss TS/Hurricanes in the GOM and oil will be down around $40/barrel!  (poking at some news articles saying price of oil has dropped due to the TS going away from GOM rigs/refineries)
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Bitteroldcoot on June 13, 2006 - 3:12pm Permalink | Subthread | Parent | Comments top
I wouldn't blame the drop on the TS.

Looks more like Wallstreet has decided we are headed for high interest rates and a stagnant/shrinking economy.  Gold prices, the stock market and oil all collapsing at once.

I forget.  Which president was it who declared that white house staffers weren't allowed to say the word recession?  Bush 1?  They had to use the word "bannana" instead.

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bradshaw on June 13, 2006 - 3:17pm Permalink | Subthread | Parent | Comments top
My point exactly... I wouldn't blame it on TS either.  I was merely pointing out the fact that some [cough] journalist try to correlate events without much thought.

Ahh Recession, yes... take a look down below as I'm really having a hard time selling my home (the bubble has a big hole in it IMO, it will within 6-12 months pop loudly)

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DelusionaL on June 13, 2006 - 9:00pm Permalink | Subthread | Parent | Comments top
Oil spooks! OMG what do they report?  Shhhhh! Hey GWB... these people think we are at peak just LIKE THE FUCKING HIRSCH REPORT....Holy shit! call the CIA, FBI, and the secret service.  Time for a meeting!!  We need to spend billions watching people talk about what we just spent millions having someone prepare a report about.  We better infiltrate these renagades and hope that they don't think what we think is possibly going to happen, could happen...

I think you will draw more attention by being a gay wanting to get married with this bunch (unfortunatly).

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DelusionaL on June 13, 2006 - 10:48pm Permalink | Subthread | Parent | Comments top
In case that sounded harsh, I don't doubt that they are watching.  What the hell for who knows.  I only hope that they read the hirsch report and fall asleep watching it get rehashed a million different ways on TOD.  If I had thier job I would shoot myself.
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190 comments on DrumBeat: June 13, 2006

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