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August 29 Why is Benoit Sauvageau Dead?I find it interesting that a member of parliment, one who just so happens to be so deeply involved in Bill C2, a man who's regarded even by his political adversaries as one of the most honest men on the hill, should just happen to die in a car accident. Check out this quote from 2005-11-14 :
Mr. Speaker, November 4 marked the tenth anniversary of the assassination in Tel Aviv of the Prime Minister of the State of Israel, Yitzhak Rabin. He was shot by a Jewish extremist opposed to the peace process while singing a song of peace.
Yitzhak Rabin was passionate about safety and prosperity for his people. He reached the highest rank in the military as chief of staff of the Tsahal during its stunning victory in the Six Day War. This courageous and generous man and winner of the 1994 Nobel peace prize, realized very early on that Israel's security required withdrawal from the occupied territories that he himself took over, as well as the creation of a viable and democratic Palestinian state side by side with the Jewish State of Israel. The Bloc Québécois remembers this great man and supports his solution: two viable states, one Jewish and one Palestinian, living peacefully and securely next to one another. But it gets better, look at a sample of the man's voting record:
Bill C-25 RE: space-based remote sensing systems NO (passed)
Bill C-260 RE: Respecting the negotiation, approval, tabling and publication of treaties YES (defeated)
Bill C-30 RE: Parliamentarian salaries to increase in accordance with private sector salaries NO (passed)
Bill C-11 RE: Whistleblower protection and procedure YES (passed) The man appears at every turn to be trying to clean up corruption in Ottawa, and while he's working on yet another anti-corruption project, he just happens to have a fatal "accident".
Very convenient. August 25 The Bell Tolls, But Nobody is ListeningAn important milestone was surpassed today.
But there was no fanfare, no celebrations, no revolutions. No action of any kind, because the mainstream media is apparently completely blind to the importance of the event.
What, Dreamtwister?" you might ask, "What event was so important?"
Today, OPEC announced that Saudi Arabia was no longer the world's #1 oil producer. The crown has been siezed by...of all places...Russia.
"But so what, Dreamtwister?" you are probably saying "What difference does that make?"
It makes a lot of difference.
For the first time in the post WWII era, the world's number one oil producer is not some tin-pot dictatorship who's only interested in buynig Bentleys and palaces, but a full-fledged world power with an omnicidal arsenal at it's disposal. Traditionally, oil prices could be kept low by the US simply saying "Lower your prices or we'll turn your palace into a smoking crater." Somehow, I don't think those tactics will be as effective in Moscow as they were in Riyadh. If Russia decides one morning to sell it's oil for $100, guess what? Oil's $100. Many people haven't caught on yet, but it's gradually become a seller's market.
But this is only part of the story.
For 50 years now, Ghawar, the world's largest oil field, has been burping out bubbling black more than twice as fast as it's nearest competitor. Officially, it produces around 4.5 million barrels per day, or half the Kingdom's production. But what's going on in Saudi Arabia right now? They are literally buying up every drilling rig on the market. They are buying so fast, they are paying 3 TIMES the normal market value for offshore rigs. They are bringing new production online at the fastest pace in the Kingdom's history. And how has this impacted the Kingdom's production? It hasn't. Production has been flat or declining for the last 6 quarters. Of course, the Kingdom's press releases say they are taking production offline due to lack of demand. That's at best, a half truth. There's only one possible answer.
Ghawar is dying.
Let's take a look at the "big list" of the world's top 20 producing wells:
1. Ghawar(Total) S. Arabia Suspected Decline
2. Greater.Burgan Kuwait CONFIRMED DECLINE ~14% 3. Bolivar Coastal Venezuela Level Production 4. Rumaila North & South Iraq Unknown 5. Safaniya S. Arabia Unknown 6. Kirkuk Iraq CONFIRMED DECLINE 7. Samotlor C.I.S. CONFIRMED DECLINE ~ 9% 8. Zakum UAE-Abu Dhabi ADDITIONAL PRODUCTION POSSIBLE 9. East Baghdad Iraq Unknown 10. Manifa S. Arabia Shut in ADDITIONAL PRODUCTION POSSIBLE 11. Gachsaran Iran Unknown 12. Abqaiq S. Arabia Level Production 13. Ahwaz Iran CONFIRMED DECLINE ~19% 14. Romashinko C.I.S. CONFIRMED DECLINE 15. Cantarell Complexx Mexico CONFIRMED DECLINE ~14% 16. Marun Iran CONFIRMED DECLINE 17. Zuluf S. Arabia Unknown 18. Berri S. Arabia CONFIRMED DECLINE 19. Agha Jari Iran CONFIRMED DECLINE
20. Daqing China CONFIRMED DECLINE ~7% That's now 11 of the top 20 producing wells in confirmed decline, and the big daddy, Ghawar, suspected. A full 21% of global production, and more than half of them are in decline.
Are you worried? You should be. |
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