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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (404119)	8/6/2008 11:01:31 AM
From: Wharf Rat	Read Replies (2) \| Respond to of 1574261

"the decline there is due to lack of exploration by the socialized PEMEX, not a natural peak." Wrong; finite resources aren't infinite. Cantarell ain't down 50% in 5 years cuz of lack of money; 3 years ago,. it was an 800 foot column of oil thinning at 300 feet per year. You can't pump down money and turn it to oil. As Westexas says, about your nonsensical babble,, "We saw a similar decline in Texas production after a group of Midland based West Texas Communists seized control of the state in 1972 and split from the union. The party hacks put in charge of production have caused a 4% per year long term annual decline rate in production. More recently, in the North Sea, after a splinter group of radical Vegan environmentalists seized control of North Sea oil production facilities in 1999, North Sea production has fallen at 4.5% per year." Keep telling yourself that, tho. It's very reassuring. Oh, the most recent look at exports... The May, 2008 data show that combined oil exports from Venezuela & Mexico to the US fell from 3.136 mbpd in May, 2007 to 2.389 mbpd in May, 2008. This is a volumetric decline of 62,000 bpd per month, which would have them collectively approaching zero shipments to the US in less than four years. In May, 2007, they accounted for about one-fourth of US net oil imports. BTW, I thought it was interesting that some Gulf Coast refineries had to curtail refinery runs, because of a lack of feedstock--because of a brief interruption in crude oil imports, due to the storm. More evidence that the Gulf Coast is bouncing along their seasonal MOL. And our Great Northern Hope, Canada, is joining the net export decline parade--with their 5/08 oil exports to the US down by more than 6% versus 5/07. == (And yes,Ven was already going down before Chavez; try another excuse).