The Oil Drum | As Cantarell goes . . .

167 comments on As Cantarell goes . . .

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Rick on July 24, 2006 - 4:14pm

Should we worry more about the world peaking or a major supplier?

Important point. Localized supply problems may become the most urgent issues. Smart strategy example? Look at China--they are lining up sources of supply everywhere.

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ThatsItImout on July 26, 2006 - 2:05am

Remarks like that astound me. The one thing everyone agrees on here is THERE ARE NO NEW SOURCES OF SUPPLY!

So where are the Chinese whipping up all this new supply?
:-)

Roger Conner known to you as ThatsItImout

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TechGuy on July 26, 2006 - 12:23pm

>Remarks like that astound me. The one thing everyone agrees on here is THERE ARE NO NEW SOURCES OF SUPPLY!

They are arranging long term contracts with existing exporters. Some of these exporters had offered oil on the open market which was available to any buyer. China has essential locked up this production for thier own consumption leaving other importers to get oil from someone else. If this continues, some importers may have difficulty obtaining oil and will be forced to power down because they won't be able to import enough oil to meet demand.

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fallout on July 26, 2006 - 2:28pm

New for China (Canada, Sudan, Cuba, Venuzuela, Uzbekistan, etc), not new as in never before utilized/new discoveries.

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AlanfromBigEasy on July 26, 2006 - 3:52pm

Per memory, China was high bidder, by a wide margin, for an offshore lease off Angola.

New small fields will continue to show up. Even in the GoM.

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167 comments on As Cantarell goes . . .

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