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Old 02-10-2011, 12:14 PM   #11 (permalink)
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Wow - estimates of Saudi oil reserves are all over the place. Hard to know who's zoomin' whom. All things considered, this sounds more like a 'production capacity' issue than a 'proven reserves' issue. For now.

Oil reserves in Saudi Arabia - Wikipedia, the free encyclopedia

The Oil Drum | Saudi Oil Production and Reserves - Reasons Behind Wikileaks Concerns
"Nevertheless, Saudi Aramco’s repeated statement about remaining recoverable oil reserves being 260 billion barrels (Gb) is still generally accepted." Interesting chart in there too showing the water content of Saudi oil rising since the 1940's. Makes one wonder how much of the reserves are actually capable of ignition!

http://www.eia.doe.gov/emeu/cabs/Sau...ackground.html

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Old 02-10-2011, 01:15 PM   #12 (permalink)
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Quote:
wikileaks needs to be hacked, virused and shut down

WikiLeaks should be considered illegal and treasonous. No reputable entity should have any association with, or comment or report on, anything WikiLeaks divulges. Releasing classified, confidentail and potentially damaging information (no matter how "entertaining" some my find it) should be dealt with in the harshest manner.
Now, now, no neo-con retardism in the thread please.
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Old 02-10-2011, 01:31 PM   #13 (permalink)
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Quote:
Originally Posted by jakobnev View Post
Wow..

Quote:
wikileaks needs to be hacked, virused and shut down
and..

Quote:
WikiLeaks should be considered illegal and treasonous. No reputable entity should have any association with, or comment or report on, anything WikiLeaks divulges. Releasing classified, confidentail and potentially damaging information (no matter how "entertaining" some my find it) should be dealt with in the harshest manner.
WTH?!?!
Who are you quoting? Are they not familiar with the FIRST AMENDMENT to the US Constitution????
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Old 02-10-2011, 11:09 PM   #14 (permalink)
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UFO -

Quote:
Originally Posted by UFO View Post
I understand the Saudis have been overstating their reserves for a while now. Now they won't be able to hide it anymore, if they can't meet production at current prices.
Yeah, I read the following back in 2006. I apologize that I can no longer find the link :

Middle East at a crossroads - by Richard Heinberg - August 2006
Quote:
At the fifth annual conference of ASPO (the Association for the Study of Peak Oil), held in July in Pisa, Italy, there were many excellent presentations, one of which I will report on at some length below.
...
Questions about the real size of Kuwait’s oil reserves have emerged in the Kuwaiti National Assembly, leading the opposition party to call for production cuts. Remarkably, Kuwait appears to be groping toward implementation of the Oil Depletion Protocol, without ever having heard of it. However, from the standpoint of nations that want to keep the oil flowing so the global industrial party can continue, this is bad news.

Even worse news, potentially, comes from Saudi Arabia, where oil flows have shrunk by some 400,000 barrels per day over the past few months, despite astronomic prices. No one knows for sure what is going on. The Saudis themselves say the production cuts are due to lack of demand, but this hardly seems plausible, unless the kingdom is only able to deliver unwanted heavy, sour crude to market—but even in that case, one would expect flows to increase, with a price discount factored in for resource quality.

At the same time, the Saudis are hiring just about every spare drilling rig in the world, resulting in a dramatically falling rig count in the Gulf of Mexico—a place that would otherwise be seeing an increasing count, given the fact that Mexico’s giant Cantarell field is in now in steep decline, with dire implications for the nation’s economy.

Matthew Simmons (Twilight in the Desert) has been insisting for the past few years that Saudi production is close to peak and that Ghawar, the world’s biggest field, may be in decline. Now many others are speculating that this is the real reason for the falling production figures.

What happens next? It depends on the real condition of Ghawar. Perhaps a heroic drilling campaign could result in a temporary bloom in production, lasting perhaps three years, followed by a swift, terminal collapse. On the other hand, it is possible that the field has been so thoroughly exploited already that we are seeing the irreversible, rapid decline. At the ASPO conference a well-connected industry insider who wishes not to be directly quoted told me that his own sources inside Saudi Arabia insist that production from Ghawar is now down to less than three million barrels per day, and that the Saudis are maintaining total production at only slowly dwindling levels by producing other fields at maximum rates. This, if true, would be a bombshell: most estimates give production from Ghawar at 5.5 Mb/d.
...
I have also read that the Saudi's damaged there oil fields over the years with bad/cheap pumping practices.

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Old 02-11-2011, 03:45 AM   #15 (permalink)
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Seems like peak oil will be hell on the current way of living but will lead us off fossil fuels very quick.
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Old 02-11-2011, 04:28 AM   #16 (permalink)
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Quote:
Originally Posted by cfg83 View Post
Yeah, I read the following back in 2006. I apologize that I can no longer find the link :...
I'm not endorsing/refuting the content, but here is the source (it got moved a little bit)
www.energybulletin.net/node/18904


Note to would be researchers, to find it, I googled for (with quotes)
"Perhaps a heroic drilling campaign"

found this link:
peakoil.com/forums/viewtopic.php?f=9&t=20637&view=next

which had this quote and cited this link:
www.energybulletin.net/18904.html

which was broken, so I put the following verbatim in google to search that site specifically for the phrase which returned a hit:
"Perhaps a heroic drilling campaign" site:www.energybulletin.net

which returned the first link. It is easier done than said
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Old 02-11-2011, 08:52 AM   #17 (permalink)
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Quote:
Originally Posted by Frank Lee View Post
Now, now, no neo-con retardism in the thread please.
No political retardism of any stripe, please. Or name-calling.

Nothing wrong with discussing Saudi oil production though.
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Old 02-11-2011, 12:17 PM   #18 (permalink)
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Quote:
Originally Posted by UFO View Post
Who are you quoting? Are they not familiar with the FIRST AMENDMENT to the US Constitution????
Oh those were just some nuggets i found on Yahoo news.

First? I think these people only know the one about sleeveless t-shirts. (Bare arms or something like that)
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Old 02-11-2011, 01:23 PM   #19 (permalink)
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Quote:
Originally Posted by UFO View Post
Are they not familiar with the FIRST AMENDMENT to the US Constitution????
Aren't you? It covers statements of opinion, not the theft & publication of private information. Otherwise it'd be perfectly legal for me to hack into your computer, get the passwords for all your bank accounts, and publish them on the web.

Or how about if I put spy cameras in your bedroom, and run a live video stream?
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Old 02-11-2011, 01:31 PM   #20 (permalink)
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I don't think that is what wikileaks is about, nobody cares (well almost nobody) about UFO's bedroom activities. It is more about holding public/powerful entities accountable.

I'm sure openness of information via tweeting etc is what "helped" cairo get rid of Mubarak

"By disclosing information about corruption, human rights abuses and war crimes, WikiLeaks is a natural contender for the Nobel Peace Prize," Valen said.

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