152 comments on DrumBeat: February 18, 2008
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152 comments on DrumBeat: February 18, 2008
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They also claim to be mitigating the 8% decline down to 2% by pricking a few more holes. But that's just another number; without some evidence supporting it, a number is whatever you want it to be.
the saudi's always seem to leave part of the puzzle out. they list 500,000 bpd from Khursaniyah which is presumably all new production, an additional 250,000 from Shayban.
but what are Khurais and Manifa currently producing ?
From the point of view of importing countries, all that counts is net exported liquids, and in round numbers the Saudi 2006 net export decline rate was about -5%/year, and the 2007 number was probably on the order of -10%/year.
Note the decision by Lukoil (linked up top), allegedly in a pricing dispute, to halt crude oil exports to Germany. Russian production has basically been flat from 10/06 to 11/07 inclusive (EIA), while recent Russian reports indicate production declines. From the linked article:
key words and phrases: (not mentioned in any Euro-bilge text)
Kosovo
German/UK/French/fill in blank here / Recognition
Serbia / battle against Ottomans / 700 year old churches / etc
South Slavs
EC stupidity (under the aegis of multiculturalism and diversity)
Albanian knife/ drugs/sex slave merchants
And....
''I can do what the fook I like, any time I fookin like; just by turning this valve off .''. (that is the authentic voice of mother Russia speaking...)
Time to get real...
We have just created an independant Muslim state in Central Europe at the expense of Orthodox Christian Slavs who just happen to be supported by a nuclear tipped oil power.
Just watch this puppy run.
Dorme Bien.
Dig a shelter.