RE: [asa] $4 gas is here to stay

On Sat, 7 Jun 2008, Glenn Morton wrote:

> Now, the point of this excursion to China is this. They will do what they
> have to do to get the oil. So will the US and that puts us on a collisional
> course. My fear is that we will all get to see the other country's nuclear
> warheads coming at us at slightly less than orbital velocity before all this
> is over. Oil is going away. If anyone doesn't believe me take a look at
> what is happening to one of the US's biggest sources of oil, Mexico.
> http://home.entouch.net/dmd/MexicanProduction.jpg This picture goes from
> Sept 2004 to the present. Russia, the largest producer is now declining at
> a 4% rate, the Saudis are trying to increase production but they are still
> below their all time high. Norway is declining in production, the UK is
> producing about half what it did when I moved there in 2000; Oman,
> Indonesia, and many other countries are declining in production. I simply
> don't know where the barrels are going to come from.
>

Glenn,

If I recall correctly, you said in an earlier message that the oil supply
has been about constant for the last three years. If so, and all these
countries that you mention have declining production, where is production
increasing to keep overall production from declining?

Gordon Brown (ASA member)

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Received on Sun Jun 8 00:16:33 2008