**** your honda civic I've a horse outside

pwd

http://www.guardian.co.uk/business/2011/feb/08/saudi-oil-reserves-overstated-wikileaks

The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.

The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%.

The revelation comes as the oil price has soared in recent weeks to more than $100 a barrel on global demand and tensions in the Middle East. Many analysts expect that the Saudis and their Opec cartel partners would pump more oil if rising prices threatened to choke off demand.

However, Sadad al-Husseini, a geologist and former head of exploration at the Saudi oil monopoly Aramco, met the US consul general in Riyadh in November 2007 and told the US diplomat that Aramco's 12.5m barrel-a-day capacity needed to keep a lid on prices could not be reached.

According to the cables, which date between 2007-09, Husseini said Saudi Arabia might reach an output of 12m barrels a day in 10 years but before then – possibly as early as 2012 – global oil production would have hit its highest point. This crunch point is known as "peak oil".

Husseini said that at that point Aramco would not be able to stop the rise of global oil prices because the Saudi energy industry had overstated its recoverable reserves to spur foreign investment. He argued that Aramco had badly underestimated the time needed to bring new oil on tap.

One cable said: "According to al-Husseini, the crux of the issue is twofold. First, it is possible that Saudi reserves are not as bountiful as sometimes described, and the timeline for their production not as unrestrained as Aramco and energy optimists would like to portray."

It went on: "In a presentation, Abdallah al-Saif, current Aramco senior vice-president for exploration, reported that Aramco has 716bn barrels of total reserves, of which 51% are recoverable, and that in 20 years Aramco will have 900bn barrels of reserves.

"Al-Husseini disagrees with this analysis, believing Aramco's reserves are overstated by as much as 300bn barrels. In his view once 50% of original proven reserves has been reached … a steady output in decline will ensue and no amount of effort will be able to stop it. He believes that what will result is a plateau in total output that will last approximately 15 years followed by decreasing output."

The US consul then told Washington: "While al-Husseini fundamentally contradicts the Aramco company line, he is no doomsday theorist. His pedigree, experience and outlook demand that his predictions be thoughtfully considered."

Seven months later, the US embassy in Riyadh went further in two more cables. "Our mission now questions how much the Saudis can now substantively influence the crude markets over the long term. Clearly they can drive prices up, but we question whether they any longer have the power to drive prices down for a prolonged period."

A fourth cable, in October 2009, claimed that escalating electricity demand by Saudi Arabia may further constrain Saudi oil exports. "Demand [for electricity] is expected to grow 10% a year over the next decade as a result of population and economic growth. As a result it will need to double its generation capacity to 68,000MW in 2018," it said.

It also reported major project delays and accidents as "evidence that the Saudi Aramco is having to run harder to stay in place – to replace the decline in existing production." While fears of premature "peak oil" and Saudi production problems had been expressed before, no US official has come close to saying this in public.

In the last two years, other senior energy analysts have backed Husseini. Fatih Birol, chief economist to the International Energy Agency, told the Guardian last year that conventional crude output could plateau in 2020, a development that was "not good news" for a world still heavily dependent on petroleum.

Jeremy Leggett, convenor of the UK Industry Taskforce on Peak Oil and Energy Security, said: "We are asleep at the wheel here: choosing to ignore a threat to the global economy that is quite as bad as the credit crunch, quite possibly worse."

Kasabian

I drive a diesel, I'll be fine :pac:

AnonoBoy

I don't see where Sadad al-Husseini mentions Honda Civics in that article at all.

davetherave

I see no reference to said equine mammal either.

smk89

Won't affect me I use dublin bus. Its powered by the drivers scorn for passengers

meditraitor

Once the Yanks and Isreal nuke Iran there will be plenty of Oil to go around...... we will be fine.

Ditch

Doesn't bother me. I never learned to drive a motor. I live in Leitrim. And I genuinely have got a horse outside!

Interceptor

I'm ok, I've yore ma outside.

'cptr

tallaghtmick

dont be surprised that when the oil runs out we will suddenly see a new power source amazingly never seen before

hidden by the fat cat nations

AnonoBoy

tallaghtmick wrote: »

dont be surprised that when the oil runs out we will suddenly see a new power source amazingly never seen before

hidden by the fat cat nations

Horses?

Underground horses?

Underground underwater horses?

Is that Shell are really mining off the coast?

JESUS!!!!! Underground underwater ghost horsemen of the apocalypse?????





So what do we do? Burn them or what?

tallaghtmick

AnonoBoy wrote: »

Horses?
Underground underwater horses?QUOTE]

sea horses :eek:

Poor Uncle Tom

No wonder there's going to be trouble if everyone is dependant on Middle Eastern oil, Saudi Arabia, Iran, etc.,

Local Statoil, ftw....:rolleyes:

Yakult

**** your horse, its a **** song.

TimeToShine

I cycle.

Sheeps

TimeToShine wrote: »

I cycle.

Hope your bike will last you the next 50 years then.

RolandIRL

Sheeps wrote: »

Hope your bike will last you the next 50 years then.

why? are they not making bikes anymore?

jackiebaron

meditraitor wrote: »

Once the Yanks and Isreal nuke Iran there will be plenty of Oil to go around...... we will be fine.

Yep....radioactive oil will work well in your Lada.

fonecrusher1

Im effing sick of people effing saying that effing catchphrase. It was funny for about 12 minutes a few months ago.

Max Power1

whiteman19 wrote: »

why? are they not making bikes anymore?

Some say we have reached peak bike production

smk89

Max Power1 wrote: »

Some say we have reached peak bike production

Quickly, lets invade a country with lots of bikes. The Netherlands perhaps?

AnonoBoy

I've got a Raleigh bush in my back garden but I'd only get about 2 bikes out of that a year. We need bike farms and fast!

mawk

smk89 wrote: »

Quickly, lets invade a country with lots of bikes. The Netherlands perhaps?

What's the public reason? Weapons of mass dutchstruction?

Ghost Estate

Great now the government can bring in a 2,000 euro annual Horse Ownership Tax

pwd

fonecrusher1 wrote: »

Im effing sick of people effing saying that effing catchphrase. It was funny for about 12 minutes a few months ago.

But this is the first time I've said it. It seems apt.

You see if oil became too scarce or expensive then horses might be a preferable mode of transport. So your petrol-powered automobile does not impress, I have a grass-powered animal...The title referring to a now often quoted frivolous song is juxtaposed with newer serious content. This means there is a sudden reinterpretation of the title when you start reading the article, which might evoke amusement.

I thought it was obvious enough tbh.

mawk

pwd wrote: »

But this is the first time I've said it. It seems apt.

You see if oil became too scarce or expensive then horses might be a preferable mode of transport. So your petrol-powered automobile does not impress, I have a grass-powered animal...The title referring to a now often quoted frivolous song is juxtaposed with serious content, which is newer. This means there is a sudden reinterpretation of the title when you start reading the article, which might evoke amusement.

I thought it was obvious enough tbh.

Oh I see what you did there....




I'm on to your little game.

smk89

mawk wrote: »

What's the public reason? Weapons of mass dutchstruction?

That was terrible, how about cannabis being a terrorist conversion drug.
Now that's more believable!

poodles

Buy Shares to do with Oil Exploration / Production

skyhighflyer

Ah sure the Saudis would have no reason to understate supply, thus causing further rises in prices for the oil they sell to the West?

*prince number 22 sends cable to US embassy, sighs contentedly and orders another gold-plated Bugatti Veyron*

Sheeps

whiteman19 wrote: »

why? are they not making bikes anymore?

You need oil to make bikes, noob.

Sheeps

You need oil to make everything.

ejmaztec

fonecrusher1 wrote: »

Im effing sick of people effing saying that effing catchphrase. It was funny for about 12 minutes a few months ago.

Which effing catchphrase are you effing on about, cos I can't effing see anything that was effing money for 12 effing minutes a few effing months ago?

Spill the effing beans.





:P

hatz7

funny!

Metallitroll

he's right.. 12 minutes they didn't even have 15

as yoof fads go 12min is about what it took to go from from funniest thing eva! to eeeew!!

Sticky_Fingers

Tigger wrote: »

the trucks that deliver to me use bio-diesel they make in their own place and i'll be looking at making bio-diesel and modding my next car to run on it

i'll also be looking at low temperature vacum distillation for making bio-ethanol for my bikes because we will soon be at the point where this will be cost efficient

before peeps start with customns this and customs that you can get exemptions to make your own fuels - small batch for small group use.

green core should have started making bio-ethanol from the sugar beet but that would have been to suitable
horses are simply not suitablefor the modern needs

Neither are biofuels, is is an extremely inefficient method of making fuel with a positive energy gain of only about 10%.
Fuel is needed to make fertilizer to grow crops, make and power machinery used to harvest the crops and then transport them to the factory (which uses fuel) where they are converted into biodiesel. This is then shipped (more fuel) out to filling stations where vehicles (made using copious amounts of fuel) fill up and drive down to the supermarket so that you can buy food (which again needs fuel) for the family. Modern society cannot function without fuels derived from cheap oil and once the peak hits things are really going to start falling apart.

As for customs, sure you can make you own fuel but they expect you to still pay (a reduced) duty on it if it is used in vehicles that are driven on the public roads.

pwd

Sticky_Fingers wrote: »

Neither are biofuels, is is an extremely inefficient method of making fuel with a positive energy gain of only about 10%.
Fuel is needed to make fertilizer to grow crops, make and power machinery used to harvest the crops and then transport them to the factory (which uses fuel) where they are converted into biodiesel. This is then shipped (more fuel) out to filling stations where vehicles (made using copious amounts of fuel) fill up and drive down to the supermarket so that you can buy food (which again needs fuel) for the family. Modern society cannot function without fuels derived from cheap oil and once the peak hits things are really going to start falling apart.

As for customs, sure you can make you own fuel but they expect you to still pay (a reduced) duty on it if it is used in vehicles that are driven on the public roads.

Horses make fertilizer.

pwd

Tigger wrote: »

humans make lots of fertiliser no fuel is needed

Ok you poo on crops and I'll get a horse.

Human faeces is filthy and stinks.

Even if it is sterilized it still stinks and is not good fertilizer, unless you are vegetarian maybe - but I bet you wouldn't want to eat those vegetables.

Also horses produce loads of faeces. You have to shovel it into a wheelbarrow. Have you ever had to shovel your poo into a wheelbarrow? No you have not.

Senna

Free used veg oil from work + crappy old jeep = WIN

pwd

Tigger wrote: »

nobody is eating this stuff it is grown and processewd and made intoi fuels

no i have never shoveled my sh1t but my **** is sucked up each year and spread on the fields in mayo and used to grow human crops so your point is mute

this is common practice in all house in rural ireland i asdumed you knew this

"Moot"

I like the way you slur your text. Especially when you say things like "this isn't a dream trhi is already in progress."

Enough sh!t talk anyway. Get your own thread.

Mod Note:
Banned for being a dick.

robbie_998

I'll switch to coal in future ! :pac:

Caliden

OP, what do YOU think about the topic?
Seeing as you just copied and pasted text from an article without any actual opinion on the matter.
I would just thrawl news sites if I wanted the latest headlines spoonfed to me.