IEA report confirmed from the field

Discussion in 'Peak Oil' started by melbo, Dec 3, 2010.

  1. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Got this email from a friend today.

    The last couple of weeks have been very strange.
    First we had the report from the IEA that confirms world oil production has peaked.

    Now the actions where I am at are making sense. Those that know me know where I am and who I work for. For security reasons I can't go into specifics. Just a genralization of what is going on in the business as a whole.

    The active exploration for oil has been decreasing every year for sometime. In 2000 this region had 90% of the rigs employed in either exploration or developement of oil fields. Now in 2010, 90% of the rigs are drilling for and developing natural gas fields. It was made known just this last week that the budget for oil exploration will be cut next year, and the number of rigs utilized in that area decreased. This just one week after he IEA "let the cat out of the bag" so to speak. Now all access to rig counts and utilization has been removed from work computers. Very strange.

    Production figures are, as always, a closely held secret. But it is readily apparent that the fields in this part of the world are shrunken, delapidated, shells of what they were 10 years ago.
    This is terrifying news. As Matthew Simmons said "As goes (this region) so goes the world."

    This next year is going to see changes that cannot be ignored by the blind masses any longer.

    Hoping and praying that all of you have your preps in order. Or that this might serve to give you a little impetus to give that more urgency and priority.

    I have been in this business coming up on 34 years and I have never seen this level of cut back and such blatant evidence of depletion. And especially in fields that were supposed to supply the world for "a hunded years". Must have been dog years.

    We are in for some tough times ahead. We are facing a crises that 90% of the people have no idea is coming.

    Just trying to determine who to send this out to. Feel free to forward it on to any you think might need or want to see it.


    I can't stress how important this is. The fields where I am are almost dry. Only 13% of active rigs are exploring and developing oil. And that will be cut next year and probably every year after. Scary stuff. If it is happening on that scale here what will be the impact around the world? I posted some time back about the water flood project here. It is the largest in the world. Pumping 7 million barrels of seawater a day into the reservoirs to try and flush out the last remaining oil. This has been going on for several years. I believe, especially after being back over here, that we have crested the peak and the next year or two will see an undeniable downward slide. And we are no where prepared for it. All these years of arguing over when it would happen and not developing anything to transition to. The next few years are going to be ugly. Take care

    IEA report 11/10 attached

    Attached Files:

  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Dun, Dun, Dun...
  3. wildone_uk

    wildone_uk Monkey+

    thanks,now moveing my prepps into highgear
  4. BAT1

    BAT1 Cowboys know no fear

    We have huge underground reserves in the Mid west, don't we?
  5. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member


    I dont care how many report there are and by whom, I can go over to the TFHL and read thread after thread of conspiracy theory's about the Government and not trusting them because they are after the dollar.
    Same for big business why would I trust anything they say????

    People are getting their pockets padded with green backs from Oil plain and simple.

    The graph above makes me very happy, I have always said I was born 100years too late, well it looks like the doom and gloomers got us going back to Horse and Buggy days! I love it , bring it on.
    Its a win -win for me if we don't life goes on, if we do I get to live the life i have loved.
    The price of oil will go up, that's a given takes no in site to guess that, and so will wages endless cycle.
    I can only pray we go black and it will effectively end Government control of the land and my life.[winkthumb]

    And there is this one:


    end game...LOL
  6. Joseph Thomas

    Joseph Thomas Monkey+

    Nope. Anything we have has already or is currently being depleted except for maybe some deep offshore. Which was placed off limits today by the Obama admin. This is the one true and final game changer. Our economy will cease to function when liquid fuels go into a shortage phase.
  7. Minuteman

    Minuteman Chaplain Moderator Founding Member

    Further confirmation;

    [SIZE=+1]Oooops! Saudi oil reserves 'overstated by 40%' (Long suspected, now apparently confirmed)[/SIZE]
    American Thinker ^ | 02/09/2011 | Rick Moran
    Posted on Wednesday, February 09, 2011 6:52:06 PM by SeekAndFind

    [FONT=times new roman,times]As far back as 2004, there was worry that the Saudis were fudging on how much oil they still had in the ground. Thanks to Wikileaks, we now have a little better idea. The Guardian:

    [FONT=times new roman,times]The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.[/FONT] [FONT=times new roman,times]The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300bn barrels - nearly 40%.[/FONT]
    [FONT=times new roman,times]The revelation comes as the oil price has soared in recent weeks to more than $100 a barrel on global demand and tensions in the Middle East. Many analysts expect that the Saudis and their Opec cartel partners would pump more oil if rising prices threatened to choke off demand.[/FONT]
    [FONT=times new roman,times]However, Sadad al-Husseini, a geologist and former head of exploration at the Saudi oil monopoly Aramco, met the US consul general in Riyadh in November 2007 and told the US diplomat that Aramco's 12.5m barrel-a-day capacity needed to keep a lid on prices could not be reached.[/FONT]
    [FONT=times new roman,times]According to the cables, which date between 2007-09, Husseini said Saudi Arabia might reach an output of 12m barrels a day in 10 years but before then - possibly as early as 2012 - global oil production would have hit its highest point. This crunch point is known as "peak oil".[/FONT]
    [FONT=times new roman,times]Husseini said that at that point Aramco would not be able to stop the rise of global oil prices because the Saudi energy industry had overstated its recoverable reserves to spur foreign investment. He argued that Aramco had badly underestimated the time needed to bring new oil on tap.[/FONT]
    [FONT=times new roman,times]In other words, if there's a war between Israel and Iran, our goose is cooked. Saudi Arabia will be unable to pump enough oil to materially affect the price of a barrel of oil which could lead to nightmare prices exceeding $300 bbl.[/FONT]
    [FONT=times new roman,times]Meanwhile, caribou graze peacefully in ANWR and Gulf oil rigs are being sent elsewhere because we have an administration that is allergic to crude oil. They break out in hives anytime someone mentions drilling.
    [FONT=times new roman,times]In other news, solar plants are closing and no new nuclear plants are planned for the foreseeable future.

    Same story here;

    Reported on all the news outlets, Fox, CNN etc. but largely overlooked due to the turmoil in Egypt at the time.
  8. UGRev

    UGRev Get on with it!

    Nice.. and Suad says they're going to pitch in for the lost oil production of Libya? Fat chance.
  9. BAT1

    BAT1 Cowboys know no fear

    They send oil through the roof, crash the dollar and insert the new world currency. Mercy.
    If the people riot because of having to pay 12.5% into their retirements wait until this happens.
    Agenda 21 and the U.N., our enemy.
  10. Gafarmboy

    Gafarmboy Monkey+++

    Got Horse and Buggy..

    Glad my Gramps taught me about horses at an early age..
    looks like we are heading toward 3rd world status at full speed and damn the torpedoes.

    If you can not protect what you own, you won't own it long.
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