Thursday, August 04, 2005

Simmons on Bohai Bay

Eons ago, in January, Mobjectivist posted on recent Bohai Bay discoveries in China and I followed up. Finally, a quick postscript from Matthew Simmons:

Saudi Oil and the World Economy
Ottawa, Canada: There have recently been large oil discoveries in China's Bohai Bay. How do you see this affecting the oil supply situation over the next decade?

Matthew Simmons: The Bohai Bay is probably a very productive area but you're talking about fields that have production profiles of 50-100,000 barrels a day each and they're apparently not very long life reserves. So you'd have to have scores of them to replace the giant fields of Saudi Arabia.

2 Comments:

At 7:02 PM, August 04, 2005, Blogger WHT said...

Oh my god, we wuz right! We should easily get promoted to exalted punditry status now.

 
At 3:24 PM, August 07, 2005, Blogger monkeygrinder said...

If telling the truth to the best of our ability and admitting mistakes were what it took to be an American pundit, I'm sure we'd be millionaires by now.

 

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