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Drumbeat: November 5, 2009
The Oil Drum — ... Russians, BP or Chavez want to hide. We have to clean up those books just exactly as the same way that we need to clean up the books on Wall Street. Secondly, we need to establish a second strategic petroleum reserve of refined product for state, county and municipal use because I really foresee a serious oil shock coming as soon as this ersatz recovery starts to push up the global GDP and demand for electricity. We have to make sure we have basic services. Oil crunch: Crisis or a rosy future? A string of impressive discoveries from America to ...

Oil crunch: Crisis or a rosy future?
Peak Oil News — ... “It does not take a lot to take 2m barrels a day off the market,” counters Albert Helmig, president of the Hong Kong Mercantile Exchange. Christophe de Margerie, chief executive of Total, this month challenged industry executives to stand up and disprove his theory that the world would never be able to produce more than 100m b/d – about 20 per cent more than present production rates – because much of the remaining oil lies in countries either unable or unwilling to tap it. Financial Times