Foreign Affairs Discussion Group Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Foreign Affairs Discussion Group

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Dayuhan who wrote (82543)	3/16/2003 7:49:42 AM
From: quehubo	Read Replies (1) of 281500

Steven - You are very misinformed on this subject. The US media has just got wind of the seriousness of the problem. People who invest in energy have seen this type of problem coming for years. Saudia Arabia and the rest of OPEC are essentially at maximum production without some major investment. SA could maybe produce about 1 mb per day in a few months with major reinvestment. Venezuala will not reach old production levels as they have destroyed allot of the assets both human and physical. Some of the wells were permanently damaged. In any event today they are reported to be exporting only at half of what they were before the strike. The loss of Iraqi oil cannot be made by any producer. The government webpage linked below can demonstrate this with added comments that the government data overstates actual production capacity. Saudia Arabia has stated several times that they are at maximum production around 9.5 mbpd without significant time and money. eia.doe.gov The link below shows present stock levels. eia.doe.gov The loss of Iraqi oil for any more than a few days will be quite alarming to the energy markets at expect to see us oil close to $50 barrel with the first sign of an oil fire in Iraq.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next