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.
Posted: Fri Sep 16, 2005 5:49 pm Post subject: Saudis say OPEC will not meet projected oil demand in 10-15
Saudis say OPEC will not meet projected oil demand in 10-15 years
By Finfacts Team Jul 6, 2005 link
Quote:
OPEC, the Organisation of the Petroleum Exporting Countries, will be unable to meet projected western oil demand in 10 to 15 years, Saudi officials have warned.
At today's prices, the world will need the cartel to boost its production from 30m to 50m barrels a day by 2020 to meet rapidly rising demand, according to the International Energy Agency, the Paris-based energy watchdog.
_________________ We are babies, we must cry.
Oil is Peaking, we must lie.
la la la la la la la...
"Because this is, at root, a problem of demand outstripping supply, OPEC must respond at its meeting on 19 September to rising demand by raising production," Gordon Brown, Britain's Chancellor of the Exchequer (finance minister) said on Tuesday.
And if OPEC can't?
I just posted a News, but this quote is worthy of being posted again and again. They (Opec) have said that they are helpless.
Here
Quote:
http://www.finfacts.com/irelandbusinessnews/publish/printer_10002504.shtml
According to the Financial Times, senior Saudi Arabian energy officials have privately warned US and European counterparts that OPEC would have an “extremely difficult time” meeting that demand. Saudi Arabia calculates there is a 4.5m b/d gap between what the world needs and what the kingdom can provide.
_________________ We are babies, we must cry.
Oil is Peaking, we must lie.
la la la la la la la...
Granted, but that's precisely the problem. There is no real measure of "volume of exports actually shipped." Only the Saudi's no how much they actually ship. The rest of the world can only guess. That's why I said price is the only real indicator, because what else is there?
No, problem is bigger then that. Main Stream media is not even reporting the truth. Well it never has, and we all know that. I have posted many time before that OPEC has admitted the truth, but media is not reporting it. Don’t forget it, mainstream media is not even reporting Indonesia, Iran, and UK are exporting. Oh you guy didn’t know Iran is buying an oil. They call it “refine gasoline for cars”.
Ps: We DON'T have to guess anymore. link
Pass it on! _________________ We are babies, we must cry.
Oil is Peaking, we must lie.
la la la la la la la...
Sept. 17 (Bloomberg) -- The oil minister for Saudi Arabia, OPEC's biggest oil producer, said surging prices have yet to curtail energy demand. He said the nation backs proposals to increase production quotas at next week's meeting.
The nation ``absolutely'' supports higher output targets, Ali al-Naimi, Saudi Arabia's oil minister, told reporters today in Vienna, where the Organization of Petroleum Exporting Countries meets on Sept. 19 and 20.
Sept. 18 (Bloomberg) -- The Organization of Petroleum Exporting Countries may agree to offer customers every barrel of oil that members can produce, effectively suspending the group's quota system that has regulated supply for about two decades.
... OPEC tomorrow will start its two-day meeting to deliberate an increase in the official output ceiling, now at 28 million barrels a day for the members outside of Iraq. Those members produced 28.55 million barrels a day last month.
"The market is very well supplied,'' the United Arab Emirates' al-Hamli told reporters today in Vienna. ``If the quota goes up then what difference would that make? We already produce 500,000 barrels a day above the quota.''
Saudi Arabia's al-Naimi yesterday said he already has offered to produce at 11 million barrels a day, its full capacity. The nation is pumping at about 9.5 million barrels a day now.
"We have had no response whatsoever'' to the offer of 11 million barrels a day, al-Naimi said.
... OPEC this week lowered its forecast for growth in oil demand for a fifth month, saying consumption in 2005 will grow by 1.42 million barrels a day, or 1.7 percent, to 83.49 million. That's 160,000 barrels a day less than OPEC estimated last month. Next year, demand will grow by 1.52 million barrels a day, 100,000 barrels less than previously forecast, OPEC said.
"I will support whatever we can do to stabilize the oil market,'' Abdullah bin Hamad al-Attiyah told reporters today in Vienna. "Is there any demand for crude oil? The answer is no.''
Rising Production
OPEC members including Iraq have increased production for seven straight months, pumping 30.38 million barrels of crude a day in August, according to Bloomberg estimates, disregarding the quotas. That was the highest output since October, when members pumped 30.5 million barrels a day, the most since 1979.
Posted: Sun Sep 18, 2005 6:57 pm Post subject: Re: OPEC May Offer Every Barrel of Oil Members Can Pump
Good. China needs those barrels to fill her storage tanks. _________________ "The world is changed... I feel it in the water... I feel it in the earth... I smell it in the air... Much that once was, is lost..." - Galadriel
Posted: Sun Sep 18, 2005 7:05 pm Post subject: Re: OPEC May Offer Every Barrel of Oil Members Can Pump
Havn't we more or less heard this before a couple of times in recent months? The Saudi's admitting they have no more spare capacity? _________________ In individuals, insanity is rare; but in groups, parties, nations, and epochs it is the rule. – Nietzsche
Time makes more converts than reason. – Thomas Paine
History is a set of lies agreed upon. – Napoleon Bonaparte
Posted: Sun Sep 18, 2005 7:36 pm Post subject: Re: OPEC May Offer Every Barrel of Oil Members Can Pump
So we've gone from: "Don't worry, we'll increase production!" - Last year
to: "I'm givin' it all I got cappin'! If I push 'er any harder, the ships gonna blow!" - this year.
Correct? _________________ In individuals, insanity is rare; but in groups, parties, nations, and epochs it is the rule. – Nietzsche
Time makes more converts than reason. – Thomas Paine
History is a set of lies agreed upon. – Napoleon Bonaparte
Sept. 18 (Bloomberg) -- The Organization of Petroleum Exporting Countries may agree to offer customers every barrel of oil that members can produce, effectively suspending the group's quota system that has regulated supply for about two decades.
...
HECK, the same thing happened in 1970, when the Texas Railroad Commission allowed unlimited pumping from US reserves....and that was the year the US Oil production peaked.
OOOPS.
Looks like the Saudis are at top production.
Hmm, can anyone say "Hubbert's Peak"?
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