27 December 2006
Written by Jakob
Finding ourselves in a brown spot.
By John Robb, two interesting articles about Peak Oil – the Washington Post reports a serious decline in Iran’s oil revenue, and earlier there was an announcement that the world’s second largest oil field – the Burgan in Kuwait – has already peaked. Interesting is that the article in the Washington Post doesn’t state if the decline in Iran’s oil income is due to the reserves having peaked, or if it’s due to other reasons (it does mention lacking investment but doesn’t say why it’s lacking). With Iraq in continued turmoil, Russia being real bastards and Saudi Arabia suffering more and more insecurity these next few years can be quite interesting from an energy perspective, indeed.
Anybody want to sell me a horse and carriage?
UPDATE: It’s happening all over – the low-intensity Nigerian conflict is expanding as well (once again, John Robb is the source of this). All these niggling little effects together with the potentially impending crash of the US – and thus world – economy is quite scary.
categorised as » Current Affairs
ShortURL for linking: http://lime.rahina.info/?p=153
2 Comments currently posted.
The Corner Blog » And what did we say about the Russians? says:
The Corner Blog » Peak Oil? says:
[...] As I pointed to late last year, the Burgan field (which is the second largest in the world) has peaked. Now it seems that the biggest field of all, the “king of kings”, the huge Ghawar field in Saudi Arabia, may have peaked as well. Check out this post from the Oil Drum (very detailed, but well worth a read). If Saudi Arabian production is in decline, this could be the start of even more severe political disturbances in the Kingdom. Not a good sign at all. [...]
[...] Well, in an earlier post (ta-ta!) I referred to a news story at the BBC about their conflict with Belarus, and now that’s taken another step towards greater energy instability. Check it out. [...]