Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: T L Comiskey who wrote (4272)	6/9/2006 3:11:24 PM
From: Wharf Rat	Respond to of 24213

'developing countries cannot be expected to wait until alternatives are available' I think the high oil prices are starting to make them wait right now. Peak Oil hits them first. They need alternatives, China and India need alternative. (But too many can't afford the costs) This method is more forward looking; can start to sequester some of the load we have already given the atmosphere. It's one more silver BB to prevent GW. Getting off of carbon fuels are gonna require a lot more BBs. I just posted this at TOD. Interesting to see what they know about it.

To: T L Comiskey who wrote (4272)	6/9/2006 4:00:51 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 24213

Nigeria Niger Delta shut in over 800,000 barrels per day ET Jun 9, 2006 (Updates an article timed at 1120 GMT, with comments from Shell, industry sources.) LAGOS (MarketWatch) -- A Nigerian government official said Friday that a shut-in at the country's oil rich Niger Delta is in fact 800,000 barrels a day and higher than previously reported. Speaking at an industry event in Lagos, Tony Chukwueke, director of Nigeria's Department of Petroleum Resources, said "as I speak to you now, Nigeria has shut in over 800,000 b/d. This is a huge loss to Nigeria and we don't know what to do about it." Until now it was thought that attacks by the region's militants, who are fighting for regional control of Nigeria's oil resources, had cut the country's crude oil output by more than 500,000 b/d, most of it from a joint venture operated by Royal Dutch Shell PLC (RDSB). The major militant group - the Movement for the Emancipation of the Niger Delta - warned recently it was preparing for a major attack on the Nigerian oil industry. Militants have also said they were aiming to cut Nigeria's oil exports by 1 million b/d. Nigeria, a member of the Organization of Petroleum Exporting Countries, currently exports between 2.3 million and 2.4 million b/d. Nigerian industry sources were unable to say why an extra 300,000 b/d of Nigerian production is offline than previously estimated. Although one Nigerian oil official said, "if Tony has made this comment there is no doubt it is correct." A spokeswoman for Shell in London was also unable to comment on the latest reported outage figure. She confirmed that 455,000 b/d of Shell's crude output remains shut-in in the western Delta following civil unrest there. Unrelated, 50,000 b/d of Shell's crude production remains out of action following an oil spill nearly two weeks ago in the company's trunk line in Nembe in the Niger Delta. The company's gas plant in the eastern Niger Delta remains closed following an attack by armed men early Wednesday morning. The Cawthorne Channel gas plant has capacity of 150 million cubic feet of gas a day. -Contact: 201-938-5400 marketwatch.com