[Marxism] Oman's Oil Yield Long in Decline, Shell Data Show

Jon Flanders jonathan.flanders at verizon.net
Wed Apr 7 21:47:16 MDT 2004


On Wed, 2004-04-07 at 23:17, Les Schaffer wrote:

> 
> Perhaps more ominously for the world's oil outlook, he added that the 
> failure of Shell's horizontal drilling technology in Oman suggested that 
> even advanced extraction techniques "won't bring back the good old days."

In a thumb-sucking article in Sunday's NYT Daniel Yergin attempts to
refute those who predict an imminent decline in world oil supplies. It
is significant that the Times felt to the need to do this. Yergin pins
his hopes on better technology, of the type cited in the article about
Royal Dutch Shell.
His conclusion? 

"Yet it looks as if supplies will meet that demand. If there is an
obstacle, it won't be the predicted peak in production, at least in the
next few decades. Rather, it will be the politics and policies of
oil-producing countries and swings in global economic growth. And the
extent of these difficulties, whatever they turn out to be, will
register in the ups and downs at the gasoline pump."

We can all stop worrying and just support the US in Iraq.

full:
http://www.nytimes.com/2004/04/04/weekinreview/04yerg.html?pagewanted=2

While the oil crisis debate is only now surfacing in the Times, the word
of mouth must be growing. Richard Heinberg's "The Party's Over" is
currently #185 at Amazon. A year ago it was in the 5000's.

Jon Flanders








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