....more ammo for them peak-oil nutters
World's 2nd largest oil-field is "exhausted"
..this news coming out this weekend fromAMEInfo (the Middle east's finance and economy journal), it appears that the Bergen Oil Fields in Kuwait have past their peak of production (So, um, that was a really good investment, Gulf War I, right? we got a "freeer Kuwait" --kinda like a freeer gulag-- and an oil supply that lasted what, until the nexy Gulf War? what a scam!).
This field has been pumping out oil for 60+ years, and they have now admitted that it has passed it's peak of 2M Barrels of oil a day. They can still squeeze out 1.7M barrels a day, so it's not like it's empty. But that's not really the ponit, as any Peak-oiler will tell you, it doesn't matter when it runs out, it only matters when the supply dips so below demand that everything (esp. prices) goes Y2K-style haywire...
While the Peakers are all about WTSHTF (the 21st century version of TEOTWAWKI?), it seems that people like AMEI have a slightly more sober approach. I really appreciate that the following quote comes from a Middle East journal, as they write: "The natural world has an uncanny ability to hit back at the arrogance of man, and perhaps a reassessment of reality at this point is called for, rather than a reliance on oil statistics that may owe more to political maneuvering than geological facts." Sounds so logical ...if only we (as in the WEst) could grasp this...
I know, you're thinking hm... i've heard of this Burgan oil field before, haven't I? and you're right.. you may remeber images like these from about 10 years ago... this is Burgan:
..this news coming out this weekend fromAMEInfo (the Middle east's finance and economy journal), it appears that the Bergen Oil Fields in Kuwait have past their peak of production (So, um, that was a really good investment, Gulf War I, right? we got a "freeer Kuwait" --kinda like a freeer gulag-- and an oil supply that lasted what, until the nexy Gulf War? what a scam!).
This field has been pumping out oil for 60+ years, and they have now admitted that it has passed it's peak of 2M Barrels of oil a day. They can still squeeze out 1.7M barrels a day, so it's not like it's empty. But that's not really the ponit, as any Peak-oiler will tell you, it doesn't matter when it runs out, it only matters when the supply dips so below demand that everything (esp. prices) goes Y2K-style haywire...
While the Peakers are all about WTSHTF (the 21st century version of TEOTWAWKI?), it seems that people like AMEI have a slightly more sober approach. I really appreciate that the following quote comes from a Middle East journal, as they write: "The natural world has an uncanny ability to hit back at the arrogance of man, and perhaps a reassessment of reality at this point is called for, rather than a reliance on oil statistics that may owe more to political maneuvering than geological facts." Sounds so logical ...if only we (as in the WEst) could grasp this...
I know, you're thinking hm... i've heard of this Burgan oil field before, haven't I? and you're right.. you may remeber images like these from about 10 years ago... this is Burgan: