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

To: Wharf Rat who wrote (6192)	7/11/2007 10:20:07 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24206

from today's oil drum, Gail the Actuary on July 11, 2007 - 8:05am \| Permalink \| Subthread Most of you probably saw the Moscow Times article on Drumbeat yesterday about Russian oil production. themoscowtimes.com "Alfa Report Sees Trouble Looming in Oil Sector" The dramatic worsening in its outlook was the result of the government's reluctance to consider lowering taxes on oil firms and a higher proportion of water in the declining output, the bank said in a research report. With this article, we now have problems reported or actual production declines in all of the areas of the world producing 3 million BPD or more. • Russia - Forecast worsening outlook (9,247,000 barrels per day in 2006) • Saudi Arabia - Declining Production (9,152,000) • United States - Declining Production (5,136,000) • Iran - Declining Production (4,028,000) • China - Largest oil field peaked in 2006 (3,686,000) • Mexico - Largest oil field peaked in 2006 (3,256,000) • North Sea - Declining Production (4,343,000) This would certainly strengthen the peak oil now or very soon argument.