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I will believe the Saudis don't see any upcoming problems with Ghawar when they cancel one of their projects due to low oil prices. If they continue to be full steam ahead with increasing their capacity then I think they are aware that Ghawar may not be as robust in 5 years time as they would like us to believe.

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Peakoil.com :: View topic - OPEC: "Oil demand 'to grow 50%'
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OPEC: "Oil demand 'to grow 50%'

 
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KevO
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PostPosted: Thu Jul 10, 2008 11:53 am    Post subject: OPEC: "Oil demand 'to grow 50%' Add User to Ignore List Reply with quote
BUT THEY CAN MEET IT SO NO NEED TO WORRRY!!

Quote:
World demand for oil will grow by 50% between now and 2030 as people in developing countries drive more cars, oil producers' group Opec says.

In its 2008 world outlook, Opec said that adequate oil reserves and new methods of exploiting them would allow supply to keep up with demand.

The group blamed sky-high oil prices on the weak US dollar and speculators.

But critics say it is Opec's refusal to increase oil supply that is causing sky-rocketing crude prices.


Full BBC news story
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