Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Joined: Jun 02, 2004 Posts: 1078 Location: Bristol, UK
Posted: Sun Nov 19, 2006 12:23 pm Post subject: A primer on Caspian Oil
Oil & gas in the Caspian has a long history - indeed it is one of the earliest oil production regions in the world, with Baku a major oil center in the second half of the 19th century and beyond. What makes the situation today interesting is the simultaneuous appearence of three things:
new reserves discovered offshore,
the fact that, with the break up of the Soviet Union, the oil is located in (new) countries that are keen to have foreign investment and are now one of the few oil provinces around the world that still welcome Western oil majors,
these countries have no direct access to the world markets.
Posted: Sun Nov 19, 2006 2:18 pm Post subject: Re: A primer on Caspian Oil
Not enough focus in that article as to the total oil production in that region headed for markets by 2015. It doesn't look like it is going to be more than 4 million barrels per day. Hardly an exciting bonanza. More like not enough to offset declines in existing projects.
Joined: Jun 02, 2004 Posts: 1078 Location: Bristol, UK
Posted: Sun Nov 19, 2006 5:09 pm Post subject: Re: A primer on Caspian Oil
dissident wrote:
...headed for markets by 2015.
Quite, hence peak oil before 2015. _________________ "Everything is proceeding as I have foreseen." The Emperor (Return of the Jedi)
The Oil Drum: Europe
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