Comments on: The Next Saudi Arabia http://dailyreckoning.com/the-next-saudi-arabia/ Covering the economy, global markets and world politics. Sat, 21 Nov 2009 22:19:44 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: e. Johnson http://dailyreckoning.com/the-next-saudi-arabia/#comment-13338 e. Johnson Mon, 29 Jun 2009 04:02:46 +0000 http://dailyreckoning.com/?p=16771#comment-13338 Very little is known about these reservoirs. Its still far too early to say they will ever be commercially viable - why? It's heavy, it's sour, and its very difficult to make it flow through miles of cold pipe. The oil business uses the easy oil first. We're now looking for oil that is, for all intents, on the moon. Peak oil is real, it's easily seen in the production data and these fields will not change the fact that the world needs a new energy source and soon. Very little is known about these reservoirs. Its still far too early to say they will ever be commercially viable – why? It’s heavy, it’s sour, and its very difficult to make it flow through miles of cold pipe. The oil business uses the easy oil first. We’re now looking for oil that is, for all intents, on the moon.

Peak oil is real, it’s easily seen in the production data and these fields will not change the fact that the world needs a new energy source and soon.

]]> By: Douglas Tuttle http://dailyreckoning.com/the-next-saudi-arabia/#comment-13316 Douglas Tuttle Sun, 28 Jun 2009 20:36:49 +0000 http://dailyreckoning.com/?p=16771#comment-13316 Most of these fields are unexplored, and early projections tend to be way over blown. Until you actually start producing oil and measure initial production and depletion rates you don't know what you have. Ultra deep wells are turning out to have lower production rates and much quicker depletion rates that expected. To be "the next Saudi Arabia", they would have to produce 8-10 Mb/d which is essentially impossible. There will only ever be one Saudi Arabia, and they are in decline. Most of these fields are unexplored, and early projections tend to be way over blown. Until you actually start producing oil and measure initial production and depletion rates you don’t know what you have. Ultra deep wells are turning out to have lower production rates and much quicker depletion rates that expected.
To be “the next Saudi Arabia”, they would have to produce 8-10 Mb/d which is essentially impossible. There will only ever be one Saudi Arabia, and they are in decline.

]]> By: psiceobill http://dailyreckoning.com/the-next-saudi-arabia/#comment-13251 psiceobill Sun, 28 Jun 2009 05:21:41 +0000 http://dailyreckoning.com/?p=16771#comment-13251 Hopefully, Mr. Kings and Mr. Stirrups offshore claims will allow for enough oil to be discovered to take care of "peak oil" risk. Since Obama's ridiculous energy program of wind and solar will do next to nothing for us in the energy area. Hopefully, Mr. Kings and Mr. Stirrups offshore claims will allow for enough oil to be discovered to take care of “peak oil” risk. Since Obama’s ridiculous energy program of wind and solar will do next to nothing for us in the energy area.

]]> By: William Stirrup http://dailyreckoning.com/the-next-saudi-arabia/#comment-13173 William Stirrup Sat, 27 Jun 2009 19:34:35 +0000 http://dailyreckoning.com/?p=16771#comment-13173 Byron King makes the point that off-shore oil is the next big thing. The British knew that I suspect when they fought Argentinia, for the tiny group of Islands called - Malvinas, or The Falkland Islands back in 1983. According to reports, there's 60 BILLION barrels there, and, four small companies are currently establishing the veracity of those claims. Borders and Southern, Rockhopper Oil and others have already done some preliminary work, and found large deposits, though the exact amounts have not been disclosed/determined? BUT the islands will get developed, and investments there will make the islanders the richest 2-3,000 inhabitants in the WORLD... W. Stirrup Byron King makes the point that off-shore oil is the next big thing. The British knew that I suspect when they fought Argentinia, for the tiny group of Islands called – Malvinas, or The Falkland Islands back in 1983.

According to reports, there’s 60 BILLION barrels there, and, four small companies are currently establishing the veracity of those claims. Borders and Southern, Rockhopper Oil and others have already done some preliminary work, and found large deposits, though the exact amounts have not been disclosed/determined?

BUT the islands will get developed, and investments there will make the islanders the richest 2-3,000 inhabitants in the WORLD…

W. Stirrup

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