I saw on the news that in the Seattle area, bio-diesel is at $5.05 per gallon.
Year Abu Dhabi Dubai Iran Iraq Kuwait Saudi Arabia Venezuela
1980 28.00 1.40 58.00 31.00 65.40 163.35 17.87
1981 29.00 1.40 57.50 30.00 65.90 165.00 17.95
1982 30.60 1.27 57.00 29.70 64.48 164.60 20.30
1983 30.51 1.44 55.31 41.00 64.23 162.40 21.50
1984 30.40 1.44 51.00 43.00 63.90 166.00 24.85
1985 30.50 1.44 48.50 44.50 90.00 169.00 25.85
1986 31.00 1.40 47.88 44.11 89.77 168.80 25.59
1987 31.00 1.35 48.80 47.10 91.92 166.57 25.00
1988 92.21 4.00 92.85 100.00 91.92 166.98 56.30
1989 92.20 4.00 92.85 100.00 91.92 169.97 58.08
1990 92.20 4.00 93.00 100.00 95.00 258.00 59.00
1991 92.20 4.00 93.00 100.00 94.00 258.00 59.00
1992 92.20 4.00 93.00 100.00 94.00 258.00 62.70
2004 92.20 4.00 132.00 115.00 99.00 259.00 78.00
Can’t you see the BS here? They are being pumped out 24/7 but still increasing all the time.
What happened to the US wells they said would never run out?
Most known large fields are in decline. They don’t pump more than they used to even as they tell us there is plenty there. Why would that be with oil at all time high prices?
These people are milking this for as long as they can because if we did know what is going to happen there would be more going into addressing energy needs in the future now. If that happened to soon they wouldn’t get the crazy prices for the last oil they get out of the ground. Anything happening on a large scale like what is going on in Brazil and they lose out.
They don’t want any real competition for oil until it’s too late.
That’s just how I see it. If you believe their numbers I hope your’e right. I’ll follow the guys that has predicted very well all the delines that have already come to pass.
The Hubbert curve (M. King Hubbert) has correctly predicted declines so I’m placing more faith in it than the numbers coming out of these countries.