Putin Assures Bush (*) on Oil Production

[Snazzy]

Putin Assures Bush on Oil Production

2 hours, 30 minutes ago

CRAWFORD, Texas - As oil prices rose, Russian President Vladimir Putin told President Bush on Monday that Russian oil companies are increasing oil production and exports and will continue to do so, the White House said.

"He said he recognizes that ... he doesn't need to be causing conditions such that it hurts consuming nations," Bush said here at his ranch after meeting with top defense advisers. "He's wise about that. But we've got a lot of countries beginning to use more energy and we haven't done a good job of increasing supply."

...

"The best thing is to come up with a comprehensive energy strategy that encourages conservation, encourages environmentally sensitive exploration for natural resources in our own hemisphere," Bush said.

...

"President Putin also noted that Russian oil companies are increasing production and exports and will continue to do so," said McClellan. Putin's comments on increasing Russian production came as world oil prices approach $50 a barrel.

....

http://news.yahoo.com/news?tmpl=story&u=/ap/20040823/ap_on_bi_ge/bush_putin_3


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Yukos Cuts Output Forecast, Shares Fall

Mon Aug 23, 2:22 PM ET

By ALEX NICHOLSON, Associated Press Writer

MOSCOW - Beleaguered Russian oil company Yukos announced Monday that it had reduced its crude output forecast for the year as bailiffs continued to collect cash against the company's crushing back taxes bill from its frozen bank accounts.

....

http://story.news.yahoo.com/news?tmpl=story&cid=530&e=8&u=/ap/20040823/ap_on_bi_ge/russia_oil_fight

[htuttle]

1. Russian oil is sulfurous and expensive to produce

Hey, remember when all those gas gauges in people's cars got screwed up last year? IIRC, I think it turned out the gauges were fouled up by sulfur in the gasoline.

Wonder how that happened?...

[Radius]

3. Top 3

Export nations we rely on, Saudi, Canada, Venezuela. they make up 45 percent, Mexico falls next in line. I believe the gas thing was a refinery screwup.

More supply is good for the economy. Reduces inflation.

http://www.eere.energy.gov/vehiclesandfuels/facts/favorites/fcvt_fotw246.shtml?print

[htuttle]

4. It was a refinery screwup of a sort, yes

They somehow ended up with a tanker full of sulfurous crude that they thought was sweet crude.

Funny thing that is -- they mostly only buy sweet crude from Saudi, Canada or Venezuela, especially for making gasoline. Where'd the tanker full of sour crude come from?

Probably Russia. Somehow. That was my reason for bringing it up.

:shrug:

[Radius]

5. Bad Tanks

According to refiner:

http://www.wkyt.com/Global/story.asp?S=1881627

[tom_paine]

2. Bush* and Putin ARE soulmates!

In fact, Putin liked the Bush Playbook for Dismantling Democracy SO MUCH, he decided to implement his "Managed Democracy" in almost identical was to Soulamte Bush*.

Imperial Amerika is moving as fast as it can towards BushPutin Managed Democracy. Bush* is probably jealous because the short-lived Russian Liberty was easy to kill, and thus with less effort, Putin already has a state which Imperial Amerika may not reach even by 2020.

I mean, Comrade Putin has ENDED the Liberal Parties, whereas Bush* will likely have to keep the Democrats around to maintain the illusion of freedom that was the 225 year tradition of the Old American Republic until it died in 2000.

[Lizzie Borden]

Here, here!

.

[Lizzie Borden]

6. Here, here!

.

[bpilgrim]

7. PEAK OIL

sounds like we got a 'gun' to their head... or is it the otherway round?



peace

[JohnyCanuck]

8. Looks like Oil Producers are running up the down escalator.

Latest from Mike Ruppert's site at www.fromthewilderness.com

The world is now losing more than a million barrels of oil a day to depletion – twice the rate of two years ago – according to a new analysis published this month in Petroleum Review, the oil and gas magazine of the Energy Institute in London.

The analysis shows that output from 18 significant oil-producing countries, accounting for almost 29 percent of total world production, declined by 1.14 million barrels a day (mb/d) in 2003. The annual rate of decline also appears to be accelerating, contrary to the widely held view that depletion progresses slowly.

<snip>

“It appears that depletion is now becoming a much more significant, though largely unrecognised, consideration in the supply-demand equation, and may be contributing to the rise in oil prices,” said Chris Skrebowski, Editor of Petroleum Review and a Board member of The Oil Depletion Analysis Centre (ODAC), who prepared the new analysis.

<snip>

By re-ordering the BP data on a continuum from those producers with the largest declines to those with the largest gains, his analysis shows that in 2003 the producers still able to expand production had to increase their total output by over 7.5 percent to achieve overall world production growth of about 3.7 percent.



www.fromthewilderness.com/free/ww3/082304_million_depletion.shtml