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WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices
invite response
2011 Feb 9, 1:18am 6,756 views 48 comments
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The 5000 gal/acre/year is not realistic.
Do I hear 15000gal/acre/year? Harvard Medical School Professor of Joule Unlimited says he'll use industrial CO2 in a closed process that circumvents downstream refining. Well, that's what the paper says.
zzyzzx
2011 Feb 22, 10:34pm
http://seekingalpha.com/article/223508-doe-update-u-s-crude-oil-production-hits-6-year-high
DOE Update: U.S. Crude Oil Production Hits 6-Year High
U.S. crude oil production increased 1.7% from last week. Year-to-date oil output is up 3.8% from the year ago period. Production is now at the highest level since April 2004.
It's very nice to increase production form 4.9 to 5.5 million bpd in 18 months. A big price increase always does that. It's just not a very big deal when total consumption is 20 million bpd or in other words 3.8% of 25% doesn't really matter. Despite the rantings of the drill everywhere crowd there is no way to more than triple US oil production.
MAGA
2011 Feb 23, 4:50am
2012 Honda Civic HF. Honda sees the future. I had a 1985 CRX HF many years ago. Got over 40 mpg.
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Well this should throw a little oily spice....BAM!.... on our commodities salad.
WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices