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Politics : Bush-The Mastermind behind 9/11? -- Ignore unavailable to you. Want to Upgrade?

To: Don Earl who wrote (9573)	1/6/2005 1:33:53 AM
From: Raymond Duray	Read Replies (1) \| Respond to of 20039

Don, Re: Where is the peak if oil is constantly being discovered faster than it can be used? Are you familiar with the huge boost in OPEC reservest that appeared overnight when OPEC decided to allocate production per member based on declared reserves. In a three year period, OPEC reserves doubled as countries jockeyed for their production allocations. Not one barrel of new oil was discovered to account for this accounting chicanery. Many of the reserves that the pollyannas claim, and that you seem to be relying on are artifices of accounting sleight-of-hand. Do yourself a huge favor. Spend some time studying the remarkable data provided to us by Simmons International. Don't take my word for the fact that there is a huge problem with reserve writedowns, listen to Matt Simmons who is on a first name basis with an oilman named George Bush. Here's what Matt Simmons has to say: Shell’s big reserves write-down on January 9th touched off a flurry of “who’s next?” conjecture among energy investors. The market has since absorbed prominent write-downs by Forest Oil, Nexen, Husky Energy, El Paso, Vintage Petroleum and Western Gas Resources. simmonsco-intl.com Registration is free at the Simmons International website and well worth it. Matt has really opened my eyes over the years. And he's perhaps even more pessimistic than I am. *** Re: According to Forbes: Steve Forbes is a duplicitous little cheerleader. If you are going to follow his advice, you are going to get shorn by the people that put Forbes up to lie for them.