4Q Will Be 'Rough' If Oil Demand Rises -Qatari Minister

[Barrett808]

WASHINGTON (Dow Jones)--The Organization of Petroleum Exporting Countries will be hard pressed to meet consumers' needs in the fourth quarter if oil demand registers its typical seasonal gains, Qatari Oil Minister Abdullah bin Hamad Al Attiyah said Monday.

Oil markets are currently well supplied, Al Attiyah said. But OPEC's main concern should be the fourth quarter, when the group theoretically could reach the limits of its ability to pump more oil.

"OPEC is at its highest production in history," Al Attiyah said in an interview in Washington. "I am concerned about that. If demand is raised in the fourth quarter as usual, then we will be in a tight position."

"If we reach the full capacity now, we will tighten in the fourth quarter. The spare capacity will be smaller and smaller, reaching a plateau when there is no more oil," he said.

(more)

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[maxsolomon]

1. the problem is those damn hippies

they is preventin' real 'murkins from buildin' the refineries we need with their "snail darters" & their "ivory billed woodpeckers" and their "mecury" in the "water supply".

it ain't no "peak oil" or no "producin' at 100% capacity", its the DAMN HIPPIES STANDIN' IN THE WAY OF WHUT NEEDS TO GET DUN!

[tedoll78]

2. I feel like a total bastard for saying this..

but I'll say it anyway: if oil supply-induced financial troubles are indeed coming in the next few years (Peak Oil?), at least our chances are helped in 2008..

:( :P

Sorry. Only part of me is serious about that. I do wonder, though, if this will make Democrats look better, given how their image is more closely tied to alternative energy technologies.

[phantom power]

3. Maybe.

It all depends on what narrative people buy into. It would be sweet if most people looked around and said "Hey, that crappy Republican energy and foreign policy is what got us into this mess! I'm never voting GOP again!"

But the Republicans are free to spin whatever fairy-tale they want to about events. They can continue to say "What we need is *more* war, *more* oil drilling, *more* coal mining! It's the only way!"

People are likely to buy that too, especially since they will be getting desperate. And it has that eternal advantage of placing blame/responsibility on others, instead of having to admit that it's our own bloody-mindedness that got us into the mess that's coming.

[maxsolomon]

4. go read Kunstler.com

he thinks that the coming energy crunch will fuel reactionary politics, not enlightened alternatives.

start hoarding.

[tedoll78]

5. Damn..

this just keeps getting better and better.. x(

[phantom power]

6. He doesn't need to convince me (sadly).

[bpilgrim]

7. no way! i saw the chimp and the prince making-out and holding hands

they'll take of us i am SURE! and he ain't no male horse neither :evilgrin:


http://images.globalfreepress.com

peace

[Javaman]

8. Oh goodie, just in time for winter...

This will truly be the winter of our discontent.

Love the game plan, keep squeezing oil out for as long as they can, reeping huge profits until it's all gone, but in the mean time, curtain any effort at developing any new types of energy.
Gotta love this admin.

My only ray of sunshine in all this bullshit, is in the fact that when we run out of oil, no only will I have a hard time but so will these assholes in washington. :)