"Qatar Unhappy With High Oil Prices"

[TexasLawyer]

Here's how unhappy they are-- they're not going to do anything, like pump more oil.

From Arab News (Saudi Arabia)

&category=Business

Qatar Unhappy With High Oil Prices
Reuters

TOKYO, 28 March 2005 — OPEC-member Qatar believes crude oil prices are too high but that it is not yet time to decide whether to further increase production, the Gulf state’s oil minister, Abdullah ibn Hamad Al-Attiyah, said yesterday. Oil prices have risen about 30 percent this year, hitting a record high $57.60 on March 17 despite a decision by the Organization of Petroleum Exporting Countries to boost production immediately by 500,000 barrels per day (bpd) to 27.5 million bpd.

The organization has agreed that its president, Kuwait’s Ahmad Al-Sabah, will call members to set another increase if he thought it necessary before OPEC’s next meeting in June.

[babylonsister]

1. I'm tempted to write "I'm not happy either!" But

Qatar has big dibs on unhappiness.
Alternately, the stock market is making this happen from my understanding, not lack of oil. So if you have an idea, please enlighten me.

[BlueEyedSon]

3. OK, I'll "enlighten" you. Oil is running out.

[babylonsister]

5. Chill pill.

Oil is not running out, there's a run on the stock market right now, or in the past week or so. There's enough oil, from what I've heard. You are right, it will run out, but hasn't done so yet.

[BlueEyedSon]

6. What did you hear and where did you hear it?

Because just about every "expert" puts peak oil in 2005 or 2006.

[babylonsister]

7. I shouldn't have contributed 'nothing'; sorry.

My hope is getting ahead of my anxiety. Husband works for an airline but what, us worry? I will read up on peak oil and if you have any succinct article links, I'd be grateful.

[Theduckno2]

10. Just a suggestion...

I read the two books by Richard Heinberg, "The Party's Over" and "Powerdown" that proved to be very informative. An article here and there may not do the issue justice.

[BlueEyedSon]

15. Start with these two:

Short, nontechnical, from widely read sources (NYT & RS)
http://www.rollingstone.com/news/story/_/id/7203633?pageid=rs.NewsArchive&pageregion=mainRegion&rnd=1111686680548&has-player=true
http://www.nytimes.com/2005/03/25/opinion/25deffeyes.html?

[hadrons]

11. Oil is not running out, but "cheap oil" is peaking ....

there are 5 different types of oil based on their quality; the type that's best is 'light, sweet' type, this is the easiest to refine (cleanest and takes the least amount of enegry to do it)

On the other end there's the 'sour' grades; this oil is high in sulfer and it takes more enegry to clean it up (and its harder to bring up out of the ground) ... if your way of life depends on cheap oil, you want 'light, sweet'

When peak oil occurs, that's when we'll have problems ... we'll still have 'light, sweet' oil and 20 years we'll still have it, but we'll have less. Problem is that demand will grow, so there will be a gap ... and it this gap that will hit everyone wallet.

And the gap will only grow

Think of demand as what you want (and it only going up)
Think of supply as what you have (and its only going down)

You have peak oil

[BlueEyedSon]

16. It will do more that "hit everyone's wallet." It will hit the fundamental

underpinnings of the world economy.

[Deja Q]

14. Oil is not running out. Our economic system makes it appear it's running

out.

Our western society classifies oil as any other commodity. Pity that oil is more than a commodity; it supports EVERY aspect of our lives.

30 years ago, a little responsibility would go a long way. 25 years ago alternative energy resources were started. 20 years ago, said A.E. initiatives were abandoned, being cited as "obsolete". 10 years ago the federal speed limit of 55MPH was lifted; this limit being imposed to CONSERVE OIL. (And it's almost funny how Nixon put it into place and Clinton dismantled it. :crazy: I'm embarrassed to evey say that Nixon was 100% spot-on correct on something; though his opening up China for US corporations to exploit quickly sobers me up.)

[BlueEyedSon]

17. Appear? Halfway gone and being used up at an accellerating rate

sounds like more than an "appearance."

[BlueEyedSon]

2. Crying all the way to the bank!

[GetTheRightVote]

4. This does not sound to good for us, higher prices more then likely

with shortages as well in the near future?

:kick:

[Old and In the Way]

8. Cry me a river.....

But the US has done a fine job keeping Iraqi oil from the market...

[Erika]

9. Bush's buddies have never been happier

nor has the Bush family. From Prescott Bush all the way down to to GW, Neil, and Jeb and their kids. High oil prices insure them an elite position in the economy. W has never been able to show any true identification with the average American. He has no points of reference. He's an elitist. He wants the good life and got it. He's a chickenhawk and got it. He was a drunken partier until his 40's and got it. Good God, this president is everything that we don't wish America to stand for. He's disgusting.

[4dsc]

12. Read all about Peak oil!!

http://www.energybulletin.net/primer.php

The world pumps about 80 MILLIOM BPD and somehow, someone, somewhere, wants you to believe the 500,000 extra barrels a day is going to make a difference??? Think people!!!

What is Peak Oil?

Peak Oil is the simplest label for the problem of energy resource depletion, or more specifically, the peak in global oil production. Oil is a finite, non-renewable resource, one that has powered phenomenal economic and population growth over the last century and a half. The rate of oil 'production,' meaning extraction & refining (currently about 83 million barrels/day), has grown in most years over the last century, but once we go through the halfway point of all reserves, production becomes ever more likely to decline, hence 'peak'. Peak Oil means not 'running out of oil', but 'running out of cheap oil'. For societies leveraged on ever increasing amounts of cheap oil, the consequences may be dire. Without significant successful cultural reform, economic and social decline seems inevitable

[megatherium]

13. I keep reading OPEC is at max production now.

I think countries such as Qatar have to be concerned with producing too much oil and damaging their oil fields or simply running out. Saudi Arabia still has an enormous amount of oil but I'm not sure if that's true with some of the other Persian Gulf states, which only had two or three decades worth of oil at maximum production.