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[Peak Oil News] Oil's peak / The end may be nearer, it seems: But one American petroleum expert and industry consultant, Matthew Simmons, sifted through a couple of hundred obscure engineering papers and found clear signs of trouble at Ghawar, the biggest oil field in Saudi Arabia and, so far, the world.
[Bill Totten's Weblog] The Breaking Point: I visited Ras Tanura because oil is no longer out of mind, thanks to record prices caused by refinery shortages and surging demand - most notably in the United States and China - which has strained the capacity of oil producers and especially Saudi Arabia, the largest exporter of all. Unlike the 1973 crisis, when the embargo by the Arab members of the Organization of Petroleum Exporting Countries created an artificial shortfall, today's shortage, or near-shortage, is real.
[Veritas et Venustas] Okay, it's on the cover of the New York Times Magazine now where's a politician brave enough to deal with it?: (In fact, in an effort to offset the risksof relying on the Saudis, America's top oil suppliers are Canada andMexico.) In addition, sending less money to Saudi Arabia would meanless money in the hands of a regime that has spent the past few decadesdoling out huge amounts of its oil revenue to mosques, madrassas andother institutions that have fanned the fires of Islamic radicalism.The oil money has been dispensed not just by the Saudi royal family butby private individuals who benefited from the oil boom -- like Osamabin Laden, whose ample funds, probably eroded now, came from hisfather, a construction magnate. Without its oil windfall, Saudi Arabiawould have had a hard time financing radical Islamists across theglobe.
[Peak Oil News] The Breaking Point: I visited Ras Tanura because oil is no longer out of mind, thanks to record prices caused by refinery shortages and surging demand -- most notably in the United States and China -- which has strained the capacity of oil producers and especially Saudi Arabia, the largest exporter of all. Unlike the 1973 crisis, when the embargo by the Arab members of the Organization of Petroleum Exporting Countries created an artificial shortfall, today's shortage, or near-shortage, is real.
[Peakoiloptimist.blogspot.com] Peak Oil Optimist: Saudi Arabia's King Fahd Hospitalized, Dead?: One hypothesis, that I have entertained, is that some one or more princes, who want the Saudi throne -- which after all is the richest prize in the world -- have used (whether they believe in it or not) the ideology of the Wah'habi imams and the oil money that flows through the kingdom to raise a private army. Their intention is to drive the United States out of Arabia and use their private army to secure the throne.
[Moneycentral.msn.com] MSN Money - SuperModels: As an example, ExxonMobil (XOM, news, msgs), ChevronTexaco (CVX, news, msgs) and Petronas of Malaysia have teamed with the World Bank to develop the Doba oil fields in the landlocked northern African country of Chad at a cost of $1.5 billion, and to build a shipping facility on the coast of neighboring Cameroon at a cost of $2.2 billion. Yet Chad has only an estimated 900 million barrels of reserves, and the field will pump just 50,000 barrels a day, an amount that would boost the local economy tremendously but barely make a dent in world production.
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