Making the news today....

[Vespasian]

Trigger Andy

 

The eternal optimist..

 

You might have a future in oil for a few years yet, but we will have to learn to get by with less..

 

The Hubbard Bell curve predicted a peak in US production, US oil production peaked on que..

 

As with US production, so too world production.. it will peak then decline, we will all have to make do with less..

 

On a side note, I read an opinion piece last night regarding Saudi Oil production, the fella suggests Saudi oil exports might end in as few as 14 years... based on the assumption of falling Saudi production and internal consumption due to an ever expanding population..

 

I dread to think how things are gonna work out if the Saudi's lose export capacity..

[Commando]

I work for an oil services company in Saudi. All I can say is there is no sign of production slowing down.

I would guess that Saudi domestic consumption of the overall output is nothing more than a teacup out of a bath full of oil.

As Trigger Andy eluded to, extraction methods have improved, and reservoirs that were not profitable to tap historically are now so.

I don't think Saudi is anywhere near the dregs of the barrel yet!

[Mark Bolam]

UK should end cash in hand economy

 

 

 

I wonder how much money they will spend trying to implement and control something like this rather than tell google, Starbucks, amazon etc to pay up or get out?

 

 

I heard this morning that the cash-in-hand economy is about £6 billion.

How do they know that?

It must actually be more than that, because they don't know about my stuff.

 

 

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[difflock]

Or mine!

yet:001_huh:

[felixthelogchopper]

I heard this morning that the cash-in-hand economy is about £6 billion.

How do they know that?

It must actually be more than that, because they don't know about my stuff.

 

 

Sent from my iPhone using Arbtalk

 

I thought the £6 billion was your bit?

[Mick Dempsey]

......

[WesD]

Trigger Andy

 

The eternal optimist..

 

You might have a future in oil for a few years yet, but we will have to learn to get by with less..

 

The Hubbard Bell curve predicted a peak in US production, US oil production peaked on que..

 

As with US production, so too world production.. it will peak then decline, we will all have to make do with less..

 

On a side note, I read an opinion piece last night regarding Saudi Oil production, the fella suggests Saudi oil exports might end in as few as 14 years... based on the assumption of falling Saudi production and internal consumption due to an ever expanding population..

 

I dread to think how things are gonna work out if the Saudi's lose export capacity..

 

 

It may have peaked on fields they know of and are in production but with ever enhancing tech and finding new fields how does anyone really know where we are on that curved graph?!

 

Trigger not sure how we got onto oil on here and it's not really a relevant topic so to speak however I'm quite enjoying the insight and your posts, keep em coming!

[Vespasian]

I work for an oil services company in Saudi. All I can say is there is no sign of production slowing down.

I would guess that Saudi domestic consumption of the overall output is nothing more than a teacup out of a bath full of oil.

As Trigger Andy eluded to, extraction methods have improved, and reservoirs that were not profitable to tap historically are now so.

I don't think Saudi is anywhere near the dregs of the barrel yet!

 

A tea cup full? apparently not, a cursory search says its as much as one quarter percent of production..

Chatham House did a report that suggests that growing internal consumption is a threat to exports..

 

It might help matters if the Saudi's were a little more open with the facts regarding their oil industry.. and I find it odd that Saudi Aramco want to list on the stock market..

 

Is this to do with sharing their bounty, or spreading the risk now its become apparent to those in the know, that not all is well in the kingdom of Al Saud..

 

 

I've tried to do some basic maths on the subject, lets be generous and say all oil fields have a lifetime of one hundred years from discovery to depletion.

 

Lets give a peak plateau of five years about fifty years after discovery.. its not scientific but can't be far off the mark for an educated guess?..

 

Oil was discovered in 1938, 50 years later brings us up to peak in 1988 to 93.. that leaves an ever diminishing supply in the next forty five years..from 1993 to 2038..

 

Given the oil shock during the Arab Israeli war, and a couple of recessions along the way, that tail can be expanded out somewhat.. but its still the tale end of production.

 

I suspect that Saudi is only getting the oil it is today due to those downturns earlier in the last century,(expanding out the hubbard curve) and new technologies for extraction..

 

One thing Saudi can't do, is hide from the mathematics.. the Hubbard curve applies to Saudi as it does to every oil field in existence.. its just a matter of time before that becomes evident.. even to the Saudi's..

 

Hence their interest in listing on the stock exchange, let other investors pour in their billions to extract an ever diminishing supply..

[trigger_andy]

Trigger Andy

 

The eternal optimist..

 

You might have a future in oil for a few years yet, but we will have to learn to get by with less..

 

The Hubbard Bell curve predicted a peak in US production, US oil production peaked on que..

 

As with US production, so too world production.. it will peak then decline, we will all have to make do with less..

 

On a side note, I read an opinion piece last night regarding Saudi Oil production, the fella suggests Saudi oil exports might end in as few as 14 years... based on the assumption of falling Saudi production and internal consumption due to an ever expanding population..

 

I dread to think how things are gonna work out if the Saudi's lose export capacity..

 

 

You are simply clueless and quite ignorant too. you have no experience or knowledge of what you speak of. Your opinion is meaningless.

 

 

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[trigger_andy]

It may have peaked on fields they know of and are in production but with ever enhancing tech and finding new fields how does anyone really know where we are on that curved graph?!

 

Trigger not sure how we got onto oil on here and it's not really a relevant topic so to speak however I'm quite enjoying the insight and your posts, keep em coming!

 

 

Me neither. Lol.

 

Thanks for the comment though.

 

 

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