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WikiLeaks: Saudis running out of oil
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WikiLeaks: Saudis running out of oil

  #1 (permalink)
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WikiLeaks: Saudis running out of oil

Source: Yahoo

WikiLeaks: Saudis running out of oil - Yahoo! News


Quoting 
The latest startling revelation to come via documents leaked to Julian Assange's muckraking website and published by The Guardian should give pause to every suburban SUV-driver: U.S. officials think Saudi Arabia is overpromising on its capacity to supply oil to a fuel-thirsty world. That sets up a scenario, the documents show, whereby the Saudis could dramatically underdeliver on output by as soon as next year, sending fuel prices soaring.

The cables detail a meeting between a U.S. diplomat and Sadad al-Husseini, a geologist and former head of exploration for Saudi oil monopoly Aramco, in November 2007. Husseini told the American official that the Saudis are unlikely to keep to their target oil output of 12.5 million barrels per day output in order to keep prices stable. Husseini also indicated that Saudi producers are likely to hit "peak oil" -- the point at which global output hit its high mark -- as early as 2012. That means, in essence, that it will be all downhill from there for the enormous Saudi oil industry.

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  #2 (permalink)
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Don't sell the SUV yet ;)

New drilling method opens vast oil fields in US - Yahoo! News

Quoting 
This new drilling is expected to raise U.S. production by at least 20 percent over the next five years. And within 10 years, it could help reduce oil imports by more than half, advancing a goal that has long eluded policymakers.


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Wow. With nat gas so cheap, and a USA commodity, reading that WIKILEAK makes me want to "back up the truck"

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Do any of you guys hold oil for a longer term? I am thinking of building a position in crude oil

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  #5 (permalink)
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I think oil will go to $40

We have all the oil we need for at least the next 1000 years.

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The OPEC and the Sisters have all the interest to create rumors around oil, besides speculation and real reserves it is sad that we haven't found a true ecological alternative to oil (we probably found it but keep it in a freeze state). I realize I am saying nothing new I'm just seek of paying 130 USD/week for a full thank of polluted Diesel.

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  #7 (permalink)
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How would you be when you were an Arab country making money on oil ? I would say every day that I'm running out of oil and every day I would say my sources are almost dried up.

Just to get that price up.

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Next Big Oil Country

And China is all over it ....


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We still have no clue how much oil Iraq and Iran really have, there are numerous fields untouched in these 2 countries. In fact, they have the biggest 'unknown' reserve of non-started drilled oil at this moment. Iraq has more known oil than all other other arab countries together. Iran's oil fields are even bigger than Iraq's.

I will never see in my life a real shortage of oil, my kids neither, and their kids neither. It's all a way to drive up price.

And BTW: there is an Audi engine that uses 1Liter (0.26usGallon) for driving 100km (60stat. Miles) They have that engine since more than 5 years and they fitted it in a A4 without problems with same performance. I'm talking about real world usage, not lab wicked car usage.

It's just impossible for the economy to start using such engines, imagine the gov getting 5 or 10 times less taxes income on oil. That's the real problem. The rest is all bullocks.

I'm making money for living on oil by going in the market for like 5 to 15 seconds per trade. I'm not providing any liquidity to the market, I'm just sneaking up on others back and taking money out of a market without contributing anything. I get so horny from that freaking idea, you can't believe it.

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MetalTrade View Post
We still have no clue how much oil Iraq and Iran really have, there are numerous fields untouched in these 2 countries. In fact, they have the biggest 'unknown' reserve of non-started drilled oil at this moment. Iraq has more known oil than all other other arab countries together. Iran's oil fields are even bigger than Iraq's.

I will never see in my life a real shortage of oil, my kids neither, and their kids neither. It's all a way to drive up price.

And BTW: there is an Audi engine that uses 1Liter (0.26usGallon) for driving 100km (60stat. Miles) They have that engine since more than 5 years and they fitted it in a A4 without problems with same performance. I'm talking about real world usage, not lab wicked car usage.

It's just impossible for the economy to start using such engines, imagine the gov getting 5 or 10 times less taxes income on oil. That's the real problem. The rest is all bullocks.

I'm making money for living on oil by going in the market for like 5 to 15 seconds per trade. I'm not providing any liquidity to the market, I'm just sneaking up on others back and taking money out of a market without contributing anything. I get so horny from that freaking idea, you can't believe it.


Think of it as your private ATM machine...

I'm just a simple man trading a simple plan.

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