Texas Railroad Commission Supports Statement By Saudi Oil Minister

[hatrack]

Texas Railroad Commission Supports Statement by Naimi

The Texas Railroad Commission (RRC) supported statements by Saudi Arabia which dismissed claims that it is overstating its real oil production capacity and said resulting fears and speculation are to blame for the sharp increase in crude prices.

“Yet, a handful of non-specialists are able to scare the world with theories about peaking oil reserves,” Naimi said, in a reference to recent remarks by some analysts the world’s proven oil resources have reached their peak and started to decline.

In a statement released today, the RRC also dismissed claims that Texas peaked in 1972. Instead, they attributed the 35 year decline in Texas oil production to a persistent inability to find buyers for all of its oil, even its light/sweet oil.

EDIT/END



http://www.theoildrum.com/node/3884#more

[Parche]

1. They Are On The Wrong Track

They sound LOCO

:woohoo: :hi:

[hatrack]

2. (Retrieving tongue planted in cheek . . . . )

:toast:

[NickB79]

3. Wait, they say they had trouble finding buyers for their oil?

In the 1970's and early 80's? During the middle of a God-damn energy crisis?

They obviously think we're fucking morons.

[GliderGuider]

4. No, no -- that's the satirical part of the joke.

The Saudis said last year they couldn't find buyers. The joke is to put those words in the mouth of the RRC during the '70s energy crisis when American oil was peaking, and listen to how ridiculous they sound. The implication is that KSA is facing similar circumstances today to what the RRC faced back then, and the words should sound just as ridiculous with a Saudi accent as with a Texan one.

[happyslug]

5. Original articles is only Saudi Arabia, TRC is a comment made further down

Confusion caused by HOW the Oil Drum site is set up. In the top part, includes a reference to a United Arab Emirates (UAR) News Article on Saudi Arabian Oil:

For orignal article cited by the Oil Drum
http://www.business24-7.ae/cs/article_show_mainh1_story.aspx?HeadlineID=5947

Near the bottom on the cite, someone takes that article and put the same words into a Texas Rail road commission person from the 1970s. IT is clearly meant as a joke, but given HOW the oil drum us set up, it is hard to find.

Sub-thread to comment on TRC:
http://www.theoildrum.com/node/3884/333376