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Politics : Sioux Nation

DJT 14.01

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3:59 PM EST

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To: CalculatedRisk who wrote (66091)	5/3/2006 4:43:25 PM
From: Wharf Rat	Read Replies (1) of 362624

"Was the oil industry caught off guard by the surge in demand? Or is it a more sinister problem - peak oil - and they simply cannot increase the quantity supplied. We don't really know." Some of the discussion on TOD today is unwilling vs unable. I'm tending towards the unable side. Venezuela is the next country to watch. About a year ago, production from their largest field was falling off. Chavez was thinking sabotage, but the Rat was thinking "Hmmm?". Now, we get this... So is it a decaying infrastructure, or has V peaked, too? Venezuela Buys Oil to Meet Contracts Dr. Joe Duarte Tuesday, May 02, 2006 A Sudden Plunge In Production? Is Venezuela's oil production rapidly waning? One source reports that the world's fifth largest oil producer is showing signs of a rapid decrease in production, one of the key tenets of the peak oil theory. Venezuela is buying oil from Russia in order to avoid defaulting on deliveries to clients. The situation raises serious questions about the country's oil production and the future of PDVSA as a major oil producer, and increases the risk to the U.S. oil supply should the country's oil production suddenly plummet. Message 22412708

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