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WikiLeaks: Saudis running out of oil
by kronos Wed Feb 09, 2011 11:34 am
http://news.yahoo.com/s/yblog_thelookout/20110209/ts_yblog_thelookout/wikileaks-saudis-running-out-of-oil
Not surprising, but extremely alarming.
WikiLeaks: Saudis running out of oil
By Brett Michael Dykes
The latest startling revelation to come via documents leaked to Julian Assange's muckraking website and published by The Guardian is should give pause to every suburban SUV-driver: U.S. officials think Saudi Arabia is overpromising on its capacity to supply oil to a fuel-thirsty world. That sets up a scenario, the documents show, whereby the Saudis could dramatically underdeliver on output by as soon as next year, sending fuel prices soaring.
The cables detail a meeting between a U.S. diplomat and Sadad al-Husseini, a geologist and former head of exploration for Saudi oil monopoly Aramco, in November 2007. Husseini told the American official that the Saudis are unlikely to keep to their target oil output of 12.5 million barrels per day output in order to keep prices stable. Husseini also indicated that Saudi producers are likely to hit "peak oil"--the point at which global output hit its high mark--as early as 2012. That means, in essence, that it will be all downhill from there for the enormous Saudi oil industry.
"According to al-Husseini, the crux of the issue is twofold. First, it is possible that Saudi reserves are not as bountiful as sometimes described, and the timeline for their production not as unrestrained as Aramco and energy optimists would like to portray," one of the cables reads. "While al-Husseini fundamentally contradicts the Aramco company line, he is no doomsday theorist. His pedigree, experience and outlook demand that his predictions be thoughtfully considered."
Not surprising, but extremely alarming.
kronos
Re: WikiLeaks: Saudis running out of oil
by TexasBlue Wed Feb 09, 2011 11:44 am
Yes it is. But in the mean time, we're not allowed to drill in ANWR or the Gulf.
TexasBlue
Re: WikiLeaks: Saudis running out of oil
by Guest Wed Feb 09, 2011 1:46 pm
[quote="kronos"]http://news.yahoo.com/s/yblog_thelookout/20110209/ts_yblog_thelookout/wikileaks-saudis-running-out-of-oil
it's not just Saudi that have worries over their oil limits.. which is why there is a rush to get nuclear power plants up and running
WikiLeaks: Saudis running out of oil
By Brett Michael Dykes
The latest startling revelation to come via documents leaked to Julian Assange's muckraking website and published by The Guardian is should give pause to every suburban SUV-driver: U.S. officials think Saudi Arabia is overpromising on its capacity to supply oil to a fuel-thirsty world. That sets up a scenario, the documents show, whereby the Saudis could dramatically underdeliver on output by as soon as next year, sending fuel prices soaring..
it's not just Saudi that have worries over their oil limits.. which is why there is a rush to get nuclear power plants up and running
Guest- Guest
Re: WikiLeaks: Saudis running out of oil
by TexasBlue Wed Feb 09, 2011 3:22 pm
cable2 wrote:it's not just Saudi that have worries over their oil limits.. which is why there is a rush to get nuclear power plants up and running
The Minnesota state legislature just voted to repeal a ban on building new nuke plants. GOP legislature, of course.
Before anyone goes on a tangent on alternative fuels... I'm not against them one bit. My comment on drilling for our own here in the USA is aimed for situations as this. The conversion to alt fuels/energy isn't a sudden one. It's a transitional one. We will need oil in the meantime. It's time we use ours instead of shit from other countries.
I believe that Saudi oil is the big stuff for Europe. You all get most of it from them, correct?
TexasBlue
Re: WikiLeaks: Saudis running out of oil
by dblboggie Wed Feb 09, 2011 5:12 pm
kronos wrote:Not surprising, but extremely alarming.
Alarming only in that our own federal government REFUSES to allow us to exploit our own very plentiful energy resources. We could, if we wished, be almost entirely self sufficient in the energy arena. We have more than ample coal, oil, natural gas, and nuclear (uranium) resources. We could use nuclear and natural gas (both much cleaner than oil and coal) to replace oil and coal fired electrical power plants, saving oil for transportation needs that cannot currently be met by anything other than oil (primarily aviation needs - commercial and military). We could continue to develop (in the private sector) the use of things like LNG for trucking, and reserve oil for automotive and aviation uses until a suitable and commercially viable alternative is invented. We don't really NEED to go beyond our own shores to meet our energy needs - we are being FORCED to do so.
And not only would this make us much less vulnerable to the politics of oil, just think of all the jobs such a move would create in this country.
But nooooo... the greenies would much rather have us dependent on foreign oil - let those other countries "despoil" their precious environments - and some of those oil exporting countries are not nearly as kind to the environment in going after oil as we are here in the West.
The hypocrisy and stupidity of it all is just breathtaking.
dblboggie
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