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 Because the combination of the news that there's no new Saudi Light
coming on stream for the next seven years plus the 27% projected
decline from existing fields means Hubbert's Peak has arrived in
Saudi Arabia. The Kingdom's decline rate will be among the world's
fastest as this decade wanes. Most importantly, Hubbert's Peak must
have arrived for Ghawar, the world's biggest oilfield, and Wall Street's
most-cited reason for assuring us month after month that oil prices
would plunge because there were so many billions of barrels of
readily-available crude overhanging the market.
Bank of Montreal
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Posted on Friday, April 01 @ 13:53:50 PST by aaron |
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Average Score: 5
Votes: 3
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Re: Has Ghawar truly peaked? (Score: 1)
by mididoctors on Friday, April 01 @ 14:30:56 PST
(User Info ) | I really am trying to double-check this and that goldman sachs stuff isn't just a april the 1st joke.
you could almost see it as people jumping but just trying to cover theri mass sell out by encouraging a late buy fest by the less informed speculators and investors who will be new traders... who also have NO direct interest of knowledge of the oil industry.;
you ever have the feeling you have just be had by bastards with a double sick sense of humor.
Boris
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