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To: Tomas who wrote (12742)	9/8/2002 8:50:54 AM
From: quehubo	Read Replies (1) \| Respond to of 206209

Mexico Shows Support for Venezuela OPEC Stance CARACAS, Venezuela, Sept 7 (Reuters) - Mexico's energy minister Ernesto Martens met with his Venezuelan counterpart and expressed support for Venezuela's stance on OPEC maintaining current oil production quotas, a government source said on Saturday. "They talked about various fundamental themes," a source at the Venezuelan ministry of energy said. "He showed an inclination to support the strategy of Venezuela in OPEC maintaining the current levels of production," the source said. Martens arrived in Venezuela on Friday for private talks with Venezuelan energy minister Rafael Ramirez, head of PDVSA state oil firm Ali Rodriguez and other oil officials and left for Mexico on Saturday, the ministry source said. Venezuela, the world's fifth largest oil exporter, has said that it will not support an increase in OPEC quotas when the cartel meets on Sept. 19 in Japan to discuss production policy. Mexico is not a member of OPEC. Mexican President Vicente Fox has said his nation shared OPEC's position on world oil prices. OPEC price hawks, including Venezuela and Kuwait, have said they want quotas maintained, but analysts believe Saudi Arabia wants to release more oil into the markets to avoid price spikes.

To: Tomas who wrote (12742)	9/8/2002 3:30:09 PM
From: Raymond Duray	Respond to of 206209

Uppsala: International Workshop on Oil Depletion Tomas, FYI: hubbertpeak.com Press Release: ASSOCIATION FOR THE STUDY OF PEAK OIL, “ASPO” The Impending Decline of Oil Supply A meeting of ASPO was held in Uppsala University on May 23rd and 24th under the chairmanship of Professor Kjell Aleklett to address the subject of oil supply. Speakers from Sweden, Norway, Denmark, United Kingdom, Ireland, Germany, France, Portugal, the United States, Russia and Australia discussed this important topic. The seminar was the foundation meeting of ASPO, a group of European universities and government institutions. The world oil depletion curve.... is based on all available information on oil reserves and estimates of the amounts yet-to-find, and indicates that world oil production will reach a peak around 2010 and decline thereafter. The seminar evaluated the evidence for this forecast, and addressed the important political and environmental consequences. ASPO plans to update the evaluation every year as new information and insights come in, with the intention of providing governments with a reliable basis for planning their responses to this critical issue. Further information is available from ASPO

To: Tomas who wrote (12742)	9/9/2002 2:08:57 AM
From: kormac	Read Replies (1) \| Respond to of 206209

Tomas, The numbers in this article do not quite check out. If one takes the yearly production to be 25 Gb, then 0, 1, 2, 1nd 3 percent increases according to my calculations give different peak production years than what the article claims. In any case, I believe OPEC is pretty much in control as the production peak in the rest of the world has been reached. Seppo - writing from Finland

To: Tomas who wrote (12742)	9/9/2002 4:59:24 PM
From: Tomas	Read Replies (1) \| Respond to of 206209

Phil Flynn Comments on Oil-Price Gyrations on Iraq, OPEC By Stephen Voss Chicago, Sept. 9 (Bloomberg) -- Phil Flynn, vice president and senior market analyst at Alaron Trading Corp. in Chicago, comments on oil-price moves prompted by U.S. threats to oust Iraqi President Saddam Hussein and speculation the Organization of Petroleum Exporting Countries may increase production quotas at a meeting in Osaka, Japan, on Sept. 19. Crude oil for October delivery rose 12 cents to $29.73 a barrel on the New York Mercantile Exchange. The contract rose as high as $30.20 in overnight electronic trading and fell as low as $29.31 after floor trading began. ``When you look at the two stories, war versus OPEC- production talk, the war talk is winning the battle right now.'' ``In the overnight market, prices took off on the president talking tough on Iraq over the weekend. Then it was tempered by an OPEC source talking about OPEC increasing production.'' ``Later, the Algerian minister said that if Iraq was attacked, OPEC would ensure adequate supply for the oil markets.'' ``As soon as prices go above $30, you see a lot of OPEC talk. They'll do everything they can to keep the West Texas Intermediate oil price below $30 a barrel before they meet in Osaka.'' ``We took out the high from Friday but we didn't take out the low from Friday, so people are starting to buy it again.'' ``As we look forward, there's no doubt demand has been incredible. Even with all the talk of OPEC overproduction, from a U.S. point of view it hasn't affected supplies, and the general talk on Iraq is going to keep prices high. We need the overproduction from OPEC.''