"On the Impending Decline of Saudi Oil Output"

[Rick Nebiolo]

One thing I like about the Realclear Politics political portal is that, despite a conservative viewpoint, it often links to important articles on the liberal side.

I clicked on a link to this disturbing article in the post subject a few minutes ago. Wonder what you guys make of this.

~ Rick

[Arnfinn Madsen]

The US (according to CIA) has 25,9% of world oil consumption while only has 4,6% of the world population. Since the oil has to be imported this has contributed to external debt and currently its external debt constitutes 70% of all external debt globally making its external debt/capita 15 times higher than average.

Maybe an idea to reduce consumption?

[shots]

The reason the US uses a disspraportionate amount of the worlds oil is that we're a more advanced country then most of the rest of the world. Of course the countries that don't have cars aren't going to use much oil. While conservation is a good thing and hydrogyn cars are a fantastic idea, there's no immediate oil shortage and there won't be in the forseable future.


RIYADH (AFP) - Oil giant Saudi Arabia might manage to add 200 billion barrels of crude reserves to its existing 261 billion barrels, which make up a quarter of the world’s total, Oil Minister Ali al-Nuaimi said the other day.
“There is a possibility that the kingdom will increase its reserves by around 200 billion barrels, either through new finds or by increasing what it produces from existing fields,” Nuaimi was quoted as saying by the official SPA news agency.
That would be in addition to some 261 billion barrels of reserves that are the world’s largest, he told the annual meeting of graduates of the Saudi branch of the Massachusetts Institute of Technology (MIT) in Riyadh.
“These huge reserves enable the kingdom to remain a major oil producer for between 70 and 100 years, even if it raises its production capacity to 15 million barrels per day (bpd), which may well happen during the next 15 years,” Nuaimi said.
He did not give a timeline for the anticipated increase in Saudi reserves.
Nuaimi said in February that Saudi Arabia, the world’s top crude exporter, planned to hike its oil output capacity to 12.5 million bpd from the current 11 million within four years and has considered the possibility of raising it to 15 million if required.

[ptmusic]

[ QUOTE ]
While conservation is a good thing and hydrogyn cars are a fantastic idea, there's no immediate oil shortage and there won't be in the forseable future.

[/ QUOTE ]

Of course, the current administration has a huge conflict of interest between helping the oil companies and helping Americans find ways to use less oil. So I'm sure they would happy to read your post.

The fact that there is no immediate oil shortage is not the big issue here. Our dependence on oil and the cost of that dependence are the big issues.

-ptmusic

[shots]

Has there ever been an administration that didn't have a vested intrest in oil companys? I believe it was Clinton that stopped the the constantincrease of fuel economy standerds and then only reinstated them at the end of his second term to make Bush look bad for stopping them again.

I agree that our dependence on oil is a big issue if only we could get some oil from right here instead of overseas we'd be in a much better position but the enviromentalists would never allow that.

[Rick Nebiolo]

[ QUOTE ]
The reason the US uses a disspraportionate amount of the worlds oil is that we're a more advanced country then most of the rest of the world. Of course the countries that don't have cars aren't going to use much oil.

[/ QUOTE ]

True, but among developed and advanced nations we seem to drive the biggest, most gas guzzling autos/SUVs. My guess is that on a per capita basis, we probably use the most gas. Of course gas is only part of oil consuption.

Regarding gas, I wonder (but don't have time to look up) how we compare per capita against other advanced nations, (e.g., France, Germany, Japan, Austrailia and Canada might be fair choices). It's hard to compare oil consuption because contries such as France went largely nuclear for electrical production.

[ QUOTE ]
While conservation is a good thing and hydrogyn cars are a fantastic idea, there's no immediate oil shortage and there won't be in the forseable future.

[/ QUOTE ]

The assertion regarding whether or not there will be oil shortages seems to be more intensely and seriously debated lately.

Note that the statement you quoted comes from the Saudi Oil Ministry. One of the major points of the article was that the Saudi's are often FOS.

~ Rick

[andyfox]

The Senate passed an energy bill today, I believe, which had bipartisan support, calling for 10% of our energy to be generated by renewable resources by x date. The House version is quite different, calling for increased gas and oil production.

That we still rely on foreign oil, especially from Saudi Arabia, as this late date is nothing short of criminal. Given the evidence of the damage to the environment being done by the buring of fossil fuels, that automobiles have been running the same way for over a hundred years now, that reliance on foreign oil, particularly Saudi oil, is dangerous from both a supply and a world peace perspective, getting off the habit would seem to be job one in both the war on terror and to insure a healthy economy.

[shots]

I'm sure we use more gass per capita then all those other countries except maybe Canada In Europe though most people live a lot closer to work due to the size of their countries. I agree that would should try to move away from fossil fuels and I'm very encouraged by the fact that on the road right now are cars driving aroung powered by hydrogen with noth but steam as exaust it's just a matter of time untill the technology becomes affordable and practicall for mass use.

[Rick Nebiolo]

[ QUOTE ]
I'm sure we use more gass per capita then all those other countries except maybe Canada

[/ QUOTE ].

Agree, that's why I also included Austrailia, which has a similar landscape (in terms of long drives in the enterior to us and Canada.

[ QUOTE ]
I'm very encouraged by the fact that on the road right now are cars driving aroung powered by hydrogen with noth but steam as exaust it's just a matter of time untill the technology becomes affordable and practicall for mass use.

[/ QUOTE ]

But doesn't it take lots of electrical energy to make hydrogen?

~ Rick

[Rick Nebiolo]

[ QUOTE ]
The fact that there is no immediate oil shortage is not the big issue here. Our dependence on oil and the cost of that dependence are the big issues.-ptmusic

[/ QUOTE ]

Note that one of the costs is bourne by the blood of our military.

~ Rick