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222 comments on DrumBeat: April 15, 2007

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Darwinian on April 15, 2007 - 9:43am Permalink | Subthread | Parent | Comments top

The article says:

Now pumping just over 11 million barrels a day...

Obviously they are not pumping over 11 million barrels per day, even if you count NGLs and anything else you can come up with. Saudi does not produce biodiesel or ethanol and obviously they are not producing 2.5 mb/d of NGLs.

But if you take that "over 11 mb/d" figure as a base, then they would need to increase production by about 1.4 mb/d in three years. (Years 07,08 and 09). Their megaporjects already in the works would do that.

What I am saying is there is absolutely nothing new in this statement. They have been singing this same tune for years. So I would not get excited about it. All we must do is wait, the data will tell everything in time.

Anyway, if you believe the "over 11 mb/d today" figure, you might as well believe the 12.5 mb/d figure in 09, after all, they both quote figures that cannot be supported with any hard data.

Ron Patterson

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fireangel on April 15, 2007 - 10:02am Permalink | Subthread | Parent | Comments top

Ron,
You misunderstand. The oil industry recently introduced smaller barrels. At 30 gallons per barrel the new ones are smaller easier to transport and come in 19 different shades including environmentally friendly green.
Even Paris hilton was noted saying "those barrels are Hot!"
Rex Tillerson went on air to say " In an attempt to decrease global warming and increase barrels of oil production we were left with only one solution. Researchers overwhelmingly support or private research that each barrel now has 25% less carbon emissions than before. We also reached our goal of 5 MBPD of production as soon as we made the shift." He added that Exxon plans to triple production to 15mbpd by 2011 as research on 10 gallon a barrel, barrels look promising. Assuming enough govt subsidies of course.
Best,
Fireangel

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godraz on April 15, 2007 - 11:03am Permalink | Subthread | Parent | Comments top

And if one reads the fine print of all this PR mega production, what they are pumping is... water! ;-)

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Dragonfly41 on April 15, 2007 - 12:19pm Permalink | Subthread | Parent | Comments top

Well...oily water or watery oil perhaps!!

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ericy on April 15, 2007 - 7:38pm Permalink | Subthread | Parent | Comments top

Hah. I will sell you all the seawater that you want for 30$/bbl :-).

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fireangel on April 15, 2007 - 7:49pm Permalink | Subthread | Parent | Comments top

If its the larger 42 gallon barrel I will take u up on that

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Richard on April 16, 2007 - 1:40am Permalink | Subthread | Parent | Comments top

LOL

I think next step is not to go to 10 gallon per barrel, but to go back to 42 gallon per barrel and make the gallons a bit smaller.

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