so "Hubbert's Peak" is due to nationalizations?
On 5/10/07, Yoshie Furuhashi <[EMAIL PROTECTED]> wrote:
<http://www.ft.com/cms/s/f80f29aa-fe93-11db-bdc7-000b5df10621.html> Politics and easy profits signal global oil crunch By Sheila McNulty in Houston Published: May 10 2007 03:00 | Last updated: May 10 2007 03:00 In the oil business, the constant development of new technology has created the adage "good fields just keep getting better and better". Companies are able to get more out of oil fields than they expected even a decade ago. Yet if they cannot access those fields, the oil within is not going to come to market. A study by PFC Energy, the respected consultancy, shows world oil supplies might well fall behind growing demand in the long term as political factors limit production capacity increases in key producing nations. "The full impact of the nationalisations that took place in the 1960s and 1970s are taking effect now," says Robin West, chairman of PFC Energy. Key national oil companies are not making the needed investment, either because resource nationalism is leading them to block out technologically advanced international oil companies or because they are making so much money from current fields that they do not see the need to reinvest.
-- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante.
