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[Peak Oil News] Peak Oil News >> Production; Extraction; Exploration >> Pemex ...: "EIA forecasts that Mexico will produce 2.9 million b/d of oil in 2009 and 2.7 million b/d in 2010," it said, explaining that "the decline is driven mainly by falling production at the supergiant Cantarell field, which has only been partially offset by higher production from other areas."

[ASPO-USA: Association for the Study of Peak Oil and Gas] Briefs week of March 23, 2009 :: ASPO-USA: Association for the ...: OPEC’s decision to resist new supply cuts laid the ground not just for cheaper oil to help heal the economy, but for warmer relations with the world’s biggest energy consumer. Two days after U.S. President Barack Obama called Saudi King Abdullah, OPEC said it would stick to existing supply targets, even though fuel inventories have swollen and oil prices are much lower than it would like.

[Mexico Institute] EIA Expects Mexico Oil Output To Drop 10% In 2009 « Mexico Institute: The U.S. Energy Information Administration expects Mexican oil production to slip 10% this year as the giant Cantarell oil field sheds production at an alarming rate, according to a report published on the EIA’s Web site this week.

[Energy Bulletin -] Peak oil review - Mar 16 | Energy Bulletin: The IEA continues to warn that the OPEC production cut of 4.2 million b/d, which they seem likely to accomplish, will continue for several months and that there is no growth in non-OPEC production, so world stockpiles will drop swiftly unless, of course, demand falls more than the 1.2 -1.4 million b/d currently forecast. The heart of the issue remains the course of the global economy and the success of the many stimulus initiatives currently underway.

[ASPO-USA: Association for the Study of Peak Oil and Gas] Steven Chu’s Energy Miscalculations :: ASPO-USA: Association for ...: Chu said Thursday he feels “like I’ve been dumped into the deep end of the pool” in confronting questions about oil policy, such as whether the administration would consider delaying scheduled deliveries of oil this spring to the nation’s strategic petroleum reserves…

[Rigzone.com: Finance and Investing News] RIGZONE - IEA Sees Massive Fall at Mexico's Cantarell Oil Field in ...: Pemex continues to shut in wells at Cantarell that produce too much natural gas or water. As the oil layer of the reservoir recedes after decades of exploitation, wells higher up start to pump natural gas, while wells lower down extract more water.

[Energy Bulletin - Oil] Steven Chu’s energy miscalculations | Energy Bulletin: Chu said Thursday he feels “like I’ve been dumped into the deep end of the pool” in confronting questions about oil policy, such as whether the administration would consider delaying scheduled deliveries of oil this spring to the nation’s strategic petroleum reserves…

[ASPO-USA: Association for the Study of Peak Oil and Gas] Briefs week of March 2, 2009: Doubts are growing that Mexico can halt a four-year decline in crude oil production after its January oil output slumped 9.2 percent year-on-year to 2.685 million b/d, just below the 2009 target of 2.7 to 2.8 million bpd. Pemex estimates that Cantarell will end 2009 producing about 700,000 b/d, suggesting that yields will fall 14 percent from 2008.

[The Oil Drum - Discussions about Energy and Our Future] The Oil Drum | Drumbeat: March 20, 2009: Rather than think of Chinese wizards stuffing exports into the USA, think of USA capitalists seeking to lower their production costs by relocating production facilities to China. This gives them both a toehold in a nascent consumer market that will be huge (GM sells more cars in China than they do in the US and this was true before the meltdown), and the opportunity to use China as an export platform to supply western markets.

[Energy and Capital] Notes from the 2008 ASPO-USA Peak Oil Conference: Aleklett: I have been quite successful in Sweden in promoting the peak oil story, mainly by talking with industry leaders first, because they realize that this is reality that will affect their business. Volvo trucks is now making peak oil a key focus for their future production.

[Zman's Energy Brain ~ oil, gas, stocks, etc...] Zman’s Energy Brain ~ oil, gas, stocks, etc”¦ » Blog Archive » Blue ...: The EIA data show four-week gasoline demand rose 0.8% from a year earlier to 8.895 million barrels a day. Michael McNamara, vice president at SpendingPulse, a gasoline demand tracking service of MasterCard Advisors, said his survey shows gasoline sales rose 1% from a year earlier in the last four weeks, seemingly supporting the EIA data.

[GetRealList] Oil Prices Are Wrong-Very Wrong: Current petroleum stocks in the US are still within the average range for this time of year, according to EIA. They’re now about 8% higher than this time last year, but that’s really nothing to write home about, and it’s not much of a “glut.”

[Mind Spittle] Is the Sky Really Falling?: I believe it is entirely possible that the United States could see some states attempt to secede from the nation.  I think the most likely candidates are California, Texas, Hawaii, and Alaska.  If you really think that impossible, remember that there have been movements in all of these states to secede.  Governor Schwarzenegger has repeatedly complained that California receives an inequitable amount of federal funds when compared to the contribution it makes through taxes.  Texas has numerous movements to secede, as does Hawaii and Alaska.  It is not inconceivable that foreign powers might not seek to persuade state governments to secede.  If you believe Russia would not sweet-talk Alaskans to get them to become independent, you don't know your history.

[WSJ.com: Environmental Capital - WSJ.com] Oil Addiction: Don’t Count on Mexico to Supplant Mid-East Crude ...: Mexico’s decline was already clear through the first nine months, as Petroleos Mexicanos, or PEMEX watched a precipitous decline at its biggest oil field, Cantarell, where production fell about 9.6% every quarter. In the third-quarter, Cantarell .

[The Oil Drum - Discussions about Energy and Our Future] The Oil Drum | Non OPEC-12 Oil Production Peaked in 2004: I also think there are probably more people reading the Oil Drum who agree with us than you might think - although there are always relatively few people who are willing to speak up agains the views of the majority! There will also be some people who say that we are just using the current low oil prices (which they will claim are only caused by the credit crunch and not by increases in alternative energy production and energy conservation - which is remarkable since they claimed that the high prices were only due to a lack of supply rather than any speculation!)

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