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Politics : Actual left/right wing discussion
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To: Wharf Rat who wrote (3833)10/31/2006 1:48:52 PM
From: Brumar89  Read Replies (1) of 10087
 
..he didn't assume anything on the demand side I was referring to the supply side.

elephant fields, the big ones, get discovered and tapped first.

You previously mentioned Ghawar and Cantarell. What I was getting at is that we don't know whether Mexico, as an example, may have another Cantarell (or a bunch of them) because Pemex has been scrimping on exploration forever. And still is. And will likely be in the future. Scrimping compared to what a bunch of private oil companies would be doing if they could drill in Mexico anyway.

Geez, Mexico imports natural gas from the US. And they import refined products from a Shell refinery in Pasadena TX. A pitiful situation brought about by Pemex having a monopoly in Mexico.

My argument doesn't apply as well to SA as they seem to be doing a lot of drilling, though probably still not as aggressively as the majors would do if they could.

As far as the supply side, the world has been pretty well picked over ....

We don't really know enough about some big parts of the world to say that for sure. Most of the mideast has been monopolized by NOC's since the '70's nationalizations. Mexico for a century or so. The former Communist countries had oil and gas industries but they were more backward than ours. They opened up some to foreign company involvement over the past 15 years, but now seem to be in the process of closing that off again.
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