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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Triffin who wrote (3715)	3/5/2006 6:31:06 PM
From: the navigator	Respond to of 24210

You are welcome Triffin. It's hard to know which way and at what speed things will fall. According to the following article published today in the Washington Post, we are near the edge of the production/demand balance now. As recently as 2002, some oil producers, chiefly Saudi Arabia, had the spare production capacity to provide liquidity to oil markets. But due to the sudden growth in demand in developing countries in Asia and continuing profligacy in industrialized nations such as the United States, oil output is largely spoken for. In 2002, there were about 7 million barrels a day of spare production capacity, or about 10 percent of world consumption. Today, spare capacity amounts to about 1 million barrels a day, less than 2 percent of world consumption. washingtonpost.com