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.