NYT: Doubts Raised on Saudi Vow for More Oil

[RamboLiberal]

http://nytimes.com/2005/10/27/business/worldbusiness/27oil.html?ei=5094&en=a0cfe2b03f2c0809&hp=&ex=1130385600&partner=homepage&pagewanted=print

Last spring, the White House publicly embraced plans by Saudi Arabia to increase its oil production capacity significantly. But privately, some officials and others advising the government are skeptical about some of those Saudi forecasts.

The United States relies on a few producers to maintain enough spare capacity to keep prices and markets stable, even during war or disaster. As oil prices have climbed over the last few years amid surging demand and tight supplies, the Bush administration has looked to the Persian Gulf countries, particularly Saudi Arabia, to pump extra oil.

But doubts about Saudi Arabia's assurances of how much it can expand capacity - and for how long - have been raised in a secret intelligence report and in a separate analysis by a leading government oil adviser, according to a federal government official and the oil expert.

If those skeptical assessments are correct, the administration's hopes of increasing supplies would become still more difficult to fulfill. Washington's expectations about oil production from Iraq and the United Arab Emirates have proved overly optimistic, and the White House has failed to heed advice about both those countries from industry and government specialists, according to documents and interviews.

[movonne]

1. I thought that Iraq was supposed to be our supplier...Where is the

Iraq oil going???

[hatrack]

3. It was going into the sand under exploding pipelines, last time I looked

But Paul Wolfowitz just knew that the whole thing would only cost a couple of billion, to be paid for with that sandy, sandy oil . . .

[Old and In the Way]

2. The Saudi Oil reserves are not open to public audits.

We have to take their word on how much is left.

[ECH1969]

4. But, the Saudis would never ever lie to us.

[cliss]

5. If it is true that the Saudi oil production is headed for a decline,

then that would explain EVERYTHING this administration has done since the year 2000. The insane quest to occupy a country (which coincidentally as the world's #2 supply of oil).

Our saber-rattling with Venezuela's leader Hugo Chavez. The fact that the administration is run by oil men -- Bush, Cheney, CondaLiar Rice.

It would certainly explain our belligerence with Iran - they have vast supplies of oil, and the world's #1 supply of natural gas.

If you assume that Saudi Arabia is in fact running out of oil, IT ALL MAKES SENSE.

[Porcupine]

7. Saudi production of light sweet crude has peaked, Heavy sour..

may be a different matter altogether. Mysteriously none of the major oil companies is building new refineries for the heavy grades of oil. They have cash, demand is plotted to increase for refined product, so what gives?

Could it be that Peak Oil is here? Could be.

[lovuian]

6. I know somebody in the oil business and there is a special

additive that is use to help OLD oil wells produce...
My friends business orders have increased enormously to the point that its going to be difficult to fill the orders!!!

So no this is nobody's imagination!!!