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Politics : Actual left/right wing discussion -- Ignore unavailable to you. Want to Upgrade?

To: mistermj who wrote (3858)	10/31/2006 6:01:23 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 10087

What is your math and science background?

To: mistermj who wrote (3858)	10/31/2006 10:42:08 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 10087

I like Simmons; a rich, Republican Very Big Oil investment banker who has been a consultant to the Shrubistas. Reuters Reporting On ASPO-USA Conference: World oil production may have peaked-executive Thursday, 26 October 2006 Posted Thu Oct 26, 2006 1:33pm ET by Reuters Author: Scott Malone BOSTON - World production of crude oil may have already peaked, setting the stage for declining output that could lag demand, a top advocate of the "peak oil" theory said on Thursday. Matthew Simmons, chairman of Simmons & Co. International, a Houston-based investment banking firm specializing in the energy sector, said U.S. government data showed that the world oil supply has declined through the first half of this year. "If you basically have another six to ten months of that decline lasting, then I think for certain we would look back and say, 'Guess what? We actually reached a sustainable peak in crude oil production in December 2005,'" Simmons said at a meeting of the United States of the the Association for the Study of Peak Oil and Gas. (26 Oct 2006) Read Reuters Full Article @ Message 22959959 FTW Interview with Matt Simmons, Boston World Oil Conference, October 26, 2006 FTW: We are currently in a plateau area of oil production. Jean Laherrere has detailed the “bumpy plateau” of oil production, and FTW has recently written about this. Professor Michael T. Klare says this plateau could last “a decade or more.” What do you think about that? Matt Simmons: It’s so hard to try and accurately predict this. But what is easy to predict is the fact that there is just no way – with the limitation we have of oil rigs compared to projects – to keep supply growing: That’s an impossibility. But to stabilize the base for some period of time – if we didn’t have such an incredible limitation of drilling rigs that would take at least a decade to correct – I think that would probably be possible. But given the fact that we are not going to have significantly more rigs for at least another decade, and how old the fleet of rigs is, the size of the fleet is going to drop before it goes back up. I’d say sustaining the base for 5 or 10 years is not impossible but extremely long odds. Message 22959901