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Politics : Rat's Nest - Chronicles of Collapse

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To: Wharf Rat who wrote (5727)	4/4/2007 10:47:56 AM
From: Wharf Rat	Read Replies (1) of 24225

This week in bad energy news One of the world's great oil fields is Cantarell, located in the Bay of Campeche (the southernmost area of the Gulf of Mexico), and it has been worked by PEMEX for years. According to Simmons, it's gone into decline. "That's a disaster happening in front of our eyes," said Simmons last week. He mentioned he had been in Mexico the week before and suggested Canterell is down 20% in a year, a frightening prospect. "[Canterell] produces six out of every 10 barrels from our friendliest supplier right across the border," said Simmons. (Let's ignore the diss to Canada there.) "The big discussion in PEMEX is, will the 20% persist or might it ease off to 14%? I raised the issue it might go to 25%." canadianbusiness.com

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