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379 comments on DrumBeat: July 2, 2008

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westexas on July 2, 2008 - 9:24am Permalink | Subthread | Parent | Comments top

I believe that they had similar complaints in early 2006. Despite diligent efforts, they were unable to find buyers for all of their oil, even their "light/sweet oil."

In round numbers, their cumulative inability to find buyers for all of their oil, through March, 2008, was over 600 mb--the difference between what they would have produced at their 2005 rate and what they actually produced (EIA, C+C).

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speedy on July 2, 2008 - 9:49am Permalink | Subthread | Parent | Comments top

Also Mexico seems to be having awful problems selling its oil.
It seem this year there was a huge drop in sales from Mexico.
It must be hard for the oil exporters these days. Still, at least they can get a good price for what they do sell.

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westexas on July 2, 2008 - 10:01am Permalink | Subthread | Parent | Comments top

I've previously discussed the Texas Railroad Commission's efforts to voluntarily restrict production for 36 years, because of our inability to find buyers for all of our oil, "Even our light/sweet oil." Oddly enough, based on the HL models, Saudi Arabia started having marketing problems at about the same stage of depletion at which buyers vanished for light/sweet Texas oil production. Go figure.

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Dragonfly41 on July 2, 2008 - 10:35am Permalink | Subthread | Parent | Comments top

Seems to me they need to invest "heavily" in their marketing department or they are going to become unprofitable.

Perhaps they need to change their "branding" tactics. Let's see...how about hiring Oily Cassandra and KrisCan to do some ads for OPEC??

"Nothing comes between me and my heavy [heavy breath and pause]....sour [another deep, sexy breath]...crude!! I gotta have it...how about you?"

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celticoil on July 2, 2008 - 11:25am Permalink | Subthread | Parent | Comments top

How about, "Real men talk crude"?

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Dragonfly41 on July 2, 2008 - 12:25pm Permalink | Subthread | Parent | Comments top

Nice...short...to the point. Nice sound bite.

Any other advice we can send to our friends in OPEC. I think also, OPEC needs to do a BP thing...you know "Beyond Petroleum" instead of British Petroleum (wow...flash...was BP way ahead of their time when they changed that?).

OPEC...new definition for acronym?

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BkkBanana on July 2, 2008 - 1:16pm Permalink | Subthread | Parent | Comments top

Oil Producers Eat Cake.

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calgarydude on July 2, 2008 - 2:38pm Permalink | Subthread | Parent | Comments top

Oil Producers' Exhausted Capacity

Old Producers Extinction Council

Oh Please Enforce Conservation

Oil's Perilous Export Collapse

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Zadok_the_Priest on July 2, 2008 - 2:40pm Permalink | Subthread | Parent | Comments top

OPEC... new definitions? Try these suggestions:

optimists & pessimists evermore collide

over pampered elite conspiracy

oligarchical profiteers encouragement club

overseas puppets energy collaborators

overt procrastinators eagerly caterwaul

omnivorous predators erstwhile carnivores

If I may be so bold to add one more:

over producing ever contracting

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Dragonfly41 on July 2, 2008 - 3:39pm Permalink | Subthread | Parent | Comments top

Ha...all lovely entries. Thanks for playing. Shall we vote on a winner?

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Geckolizard on July 2, 2008 - 4:04pm Permalink | Subthread | Parent | Comments top

Overpopulation Problem Equals Contraction (Malthus was right.)
Only People Eat Carbon (Indirectly true...)
Oil? Petroleum? Energy? Coal! (Gonna switch someday...)
Oil Producing and Ever Consuming (ELM)
Oil Peaked, Everyone Concerned (MSM)
Oh Please, Everyone's Crazy (What the Saudi's are saying)
Over People's Exploding Corpses (What we went to Iraq for)
Outta Petrol, Experiencing Convusions (Our Economy)
Overly Pessimistic, Extremely Concerned (Kunstler)

AND FINALLY...

Only Pennies Every Cup (Matt Simmons)

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Dragonfly41 on July 2, 2008 - 9:22pm Permalink | Subthread | Parent | Comments top

Alright...the ratings have decided. Geckolizard gets to choose one of his above as the winner. I will select...umm...heck I like them all....well done!!

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elwoodelmore on July 2, 2008 - 12:04pm Permalink | Subthread | Parent | Comments top

oil sales seem to be declining in all the major fields.

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phreephallin on July 2, 2008 - 10:10am Permalink | Subthread | Parent | Comments top

Saudi Arabia says no oil production boost

Pressed on the issue of market perceptions that foresee future crude supply falling behind the expected growth in global demand, the minister said such perceptions were "wishful thinking."

The term they use for this is Psycological Projection.

In psychology, psychological projection (or projection bias) is a defense mechanism in which one attributes one’s own unacceptable or unwanted thoughts or/and emotions to others. Projection reduces anxiety by allowing the expression of the unwanted subconscious impulses/desires without letting the conscious mind recognize them.

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379 comments on DrumBeat: July 2, 2008

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