Forbes: BP CEO Lord Browne says oil price will fall to 40 usd per barrel

[draft]

LORD Browne, the chief executive of oil heavyweight BP, expects crude prices to fall from current near-record levels as more supplies are discovered. ...

http://www.forbes.com/home/feeds/afx/2006/06/11/afx2807574.html

I'll have what he's hav'n, please...

[chaumont58]

1. "I'll have what he's hav'n, please..."

Really! This guy has to get a new bootlegger. Maybe he's figured a way to clone Saudi Arabia.

[Warren Stupidity]

2. what more supplies would that be?

There are no more new supplies of CHEAP OIL. There are more new EXPENSIVE OIL fields to be exploited. His Idiocy Lord Browne undoubtedly knows this, as it is fairly common knowledge.

Oil could fall to $40 based on DEMAND - as in a massive global depression shades of '29. Perhaps that was what his Inbrededness meant?

[xultar]

4. Maybe they've found a way to refine bush's bullshit into oil.

Shit. Then there'd be enough fuel to sustain the planet for centuries.

[Eurobabe]

3. Lord Browne is smoking dope

We'l never see those prices again -- UNLESS, like the previous poster intimated, the global economy collapses.

[Delphinus]

5. Whatever drugs he's taking,

I could use! What a joke ... $40 per barrel. He's either on drugs or living in an alternate reality.

[Grateful for Hope]

6. Hmmmm....

Is this the new argument the oil barons are going to use in order to exploit the Alaskan reserves?

[TheCowsCameHome]

7. Huh? - more like $40 a 5-gallon pail. (I know what the "Browne" stuff is)

BS from the oil industry.

[whathappened]

12. hey maybe you hit the nail

on the head , this has been going on in the food market for years , reduce the size and cut the price in half and the sheep think they have saved some money

[TheFarseer]

8. no informed person would ever say that

that sounds like someone that, for some weird self-serving purpose, wants to stifle alternative energy research.

[Strelnikov_]

14. Can't Have The Addicts Kicking Too Soon

Lots of money to be made off of them in the initial years of the 'great panic'.

[onehandle]

9. Could be...

After the "oil president" is gone.

Dear America. Vote Democratic in November. Let's impeach this fucker and lower the price of gas that much sooner.

Promise.

[marmar]

10. I hope Lord Browne enjoyed his weekend in Amsterdam...

:smoke:

[saigon68]

18. He's smoking something that's for sure

[BlueManDude]

11. Good show Lord Browne, good show!! n/t

[madrchsod]

13. 45-50 is a realistic price

of course that doesn`t take into account bush forcing himself into a war with iran...

[alfredo]

15. the price will skyrocket Nov 8 2006.

[truthisfreedom]

16. it doesn't say "as more supplies are discovered" in that article. where

did you get that phrase? he makes no suggestion that more supplies will be discovered, just that price increases are a result of Iran.

[bananas]

19. they may have changed the article text - it's in Guardian, Marketwatch,...

He accepted that there was little likelihood of prices dropping back sharply in the short term but dismissed notions that the price could only go up as scarcity increased. Large new oilfields were still being found, he said, adding that regions such as west Africa had plenty of hydrocarbons still in place that could be tapped.
http://business.guardian.co.uk/story/0,,1795824,00.html

"We shouldn't worry (about this issue). There are enough reserves there," Browne said, citing technical developments, which have improved oil extraction prospects. He also noted that new oil fields are also being discovered.
http://www.marketwatch.com/News/Story/Story.aspx?dist=newsfinder&siteid=google&guid=%7B1E243F03-BB4C-4FF2-AD16-2B9C139C5EEB%7D&keyword=

Browne said that companies were finding large oil deposits in the Caspian Sea, while there was good production potential in countries such as Russia and regions including western Africa. He also said that improved efficiency would help boost crude extraction and added that, in the future, consumers would have a large role to play in deciding the success of new technologies.
http://business.scotsman.com/index.cfm?id=861572006

[Amonester]

21. In other words: "Climate Change? Wutz Dat?"

"More! More! More! Polar Ice Caps & Greenland Glacier Must Melt Down Faster Than They Already Do! Mo Profit$! NOW! NOW!! NOW!!!"

[astro]

20. found this...

Oil will fall, says BP

June 13, 2006

OIL prices could drop to about $US40 a barrel in the medium term as new supplies are found, and might fall even further in the long run, according to the chief executive of BP.

link...
http://www.smh.com.au/news/business/oil-will-fall-says-bp/2006/06/12/1149964468699.html

[killbotfactory]

17. Ahhahahah

Sure, and if they do, expect gas prices to remain the same.

[spanone]

22. I would assume this to be right around election time. Wouldn't you?s

Pardon my cynicism.

[Norquist Nemesis]

23. Rolling out around Sept/October. n/t

[Ezlivin]

24. Thanks for the laugh, Lord Browne!

Good thing that Benny Hill is dead or else you'd give him a run for his money.

Or maybe you still do...