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.
Q Who are the biggest producers, when will they peak ?
A Of the top 7 oil producers, 6 are in decline or near peak production. USA peaked 1971, Norway peaked 2001. Russia, Mexico and China are forecast to peak 2004/2005. Saudi Arabia as soon as 2005. The only one of the top 7 producers that has clear capability to increase production is Iran.
I haven't seen that item before, and I am assuming that Iraq is not in the top 7, but could increase production significantly if the war and political turmoil there ended.
Joined: Jul 21, 2004 Posts: 327 Location: Chicago, IL
Posted: Sat Feb 05, 2005 7:46 pm Post subject:
It seems they ruled Iraq out. ASPO claims that Iraq should peak at 4.5 mb/d in 2020, compared to 1.8 mb/d in Novermber 2004. Still, Russia now produces around 10 mb/d and if it peaks, then so does the world (Russia effectively produces as much as Saudi Arabia, and might begin its decline soon).
were screwed. We will be lucky to delay the peak another year or two if thats even possible, and the facts all point that way. There will be no way for Iran to increase production if a Iraq-type senario was to play out, which is likely the case.. Peak oil is either here or about to happen, deal with it; were screwed
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
