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22 comments on Why This Matters: Katrina and Peak Oil

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Stuart Staniford on August 29, 2005 - 10:26pm Permalink | Subthread | Parent | Comments top
Ummm. I don't know about anyone else, but at this point official Saudi pronouncements on oil have zero credibility with me. The various things they say don't make sense together, and it's pretty clear they have to be fibbing about at least some of it. They've been saying "the market's well supplied" all year, and obviously the market is having none of it, since the price going up. Besides, other OPEC leaders keep saying things to the effect that none of OPEC has any pricing power because they are all pumping flat out already.
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Jvangi on August 29, 2005 - 10:39pm Permalink | Subthread | Parent | Comments top
Anyway... as I understand maybe...
Even if the saudis increased their output right now, that's not going to solve the problems due to the passage of Katrina no?
Given that Katrina damaged refineries...
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