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.
Posted: Mon Jul 14, 2008 10:31 am Post subject: Russia slips down the slippery backside in production.
This may be old news.... but new to me, so I will post it here.
Quote:
Russia, the world’s second-largest oil exporter, saw production fall this year as companies struggle under the burden of high oil taxes. Parliament approved a raft of tax breaks for the oil sector last week, starting from next year, after intense lobbying from oil companies.
Joined: Feb 16, 2005 Posts: 251 Location: Siberia of Canada
Posted: Mon Jul 14, 2008 1:42 pm Post subject: Re: Russia slips down the slippery backside in production.
burtonridr wrote:
This may be old news.... but new to me, so I will post it here.
Quote:
Russia, the world’s second-largest oil exporter, saw production fall this year as companies struggle under the burden of high oil taxes. Parliament approved a raft of tax breaks for the oil sector last week, starting from next year, after intense lobbying from oil companies.
This is very-very-very old news. Russia passed its peak oil output back in 1987 when it was a part of the USSR. Check Statistical Review of World Energy 2008 by BP:
http://www.bp.com/productlanding.do?categoryId=6929&contentId=7044622 _________________ We do not inherit the Earth from our parents, but borrow it from our children - Antoine Saint Exupery
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Then stop driving to work, duh..... 
