posted on Sep, 10 2005 @ 12:41 AM
It's a real fix. Saudi Arabia is pumping more water into their wells than oil being pumped out. No link. I've read a fair bit of this so called
'Peak Oil' and imo, I think the Saudi's are just about tapped out.
Venezuela is going to have to step up to the plate. The African producers need to get stabilized. There is Russia. Iran's tied up with the French,
Japan and China ... and others. We have Alberta's mature fields, lots of greasy sands and expensive offshore natural gas but I think the U.S. gets
all of that. And Iraq is a complete balls up!
OPEC and the rest of the world's oil producers have absolutely no interest in lowering prices ... no one who is raking in the lucre, not the shipping
companies, not the agents and brokers, not the banks, equipment manufacturers, refiners, no one wants a lower price who is getting rich of the
And the 'government' least of all. In the last year the price of crude has doubled at least. Where does that money go? I sure don't know, and,
really the oil market is a pretty complicated affair.
Unfortunately, I don't think things are going to improve ... if it does it will be the old "1 step forward/2 steps back".
Hope you aren't a lorry driver, la2.