Article

2005-06-09 Arabia

Top Saudi tick Says Kingdom Has Plenty of Oil

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Posted by TMH 2005-06-09 08:17|| || Front Page|| [5 views since 2007-05-07] Top

#1 What's odd about this is the relatively small area in which the oil is concentrated. Even more bizzare is that it's in a historically Shia area only recently conquored by interior tribes. What is it about 15 km wide or so?

Posted by Shipman 2005-06-09 10:10|| 2005-06-09 10:10|| Front Page Top

#2 Heh. Ship you're such a tease, lol!

Posted by .com 2005-06-09 11:59|| 2005-06-09 11:59|| Front Page Top

#3 "The world is more likely to run out of uses for oil than Saudi Arabia is going to run out of oil"

And a lot sooner than you think Adel.

Posted by gromgorru 2005-06-09 12:51|| 2005-06-09 12:51|| Front Page Top

#4 Last year world oil consumption increased by almost 2M bpd. This year will be less perhaps 1.5M bpd as economies slow. If SA can increase supply by 1.5M BPD as they claim by 2009 then thats about 20% of the demand increase over that period assuming economic growth continues. So where is the other 80% coming from? (Answer = nowhere)

The world is not running out of oil anytime soon. What it has is a supply shortfall.

Posted by phil_b 2005-06-09 18:04|| 2005-06-09 18:04|| Front Page Top

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