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Conspiracies & Cover-ups
Some thoughts on Peak Oil
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<blockquote data-quote="Cornelia" data-source="post: 6072" data-attributes="member: 25"><p><strong>Some thoughts on Peak Oil</strong></p><p></p><p>Dad,</p><p>my father-in-law works at ENI and I have also many friends there.</p><p>One of the most famous statement about Peak Oil came in 1998 from Franco Bernabe, chief executive of ENI. He warned that despite the much reported improvements in horizontal drilling technology to increase yield from existing fields the world was being 'complacent' about the availabilty of cheap oil. "My forecast is that between 2000 and 2005 the world will be reaching peak production from our known fields," Bernabe said. "After that output will decline." But demand, he added, would continue to rise inexorably. </p><p>Last week I asked about Peak Oil to a friend of mine, an economist executive at ENI. I expected him to laugh on my face, but instead he asked me how could it be that I know so much about the topic, and then admitted there's a problem. He didn't seem surprised at all when I talked about the overesteem of Saudi fields, and he said that the Peak is expected any moment. He added also that our military in Nassirya are there to patrol those Iraqi ENI fields, very precious for the times coming.</p><p>Leonardo Mauceri is only adding his voice to chorus of "Don't worry, there's plenty". But the situation is quite different.</p></blockquote><p></p>
[QUOTE="Cornelia, post: 6072, member: 25"] [b]Some thoughts on Peak Oil[/b] Dad, my father-in-law works at ENI and I have also many friends there. One of the most famous statement about Peak Oil came in 1998 from Franco Bernabe, chief executive of ENI. He warned that despite the much reported improvements in horizontal drilling technology to increase yield from existing fields the world was being 'complacent' about the availabilty of cheap oil. "My forecast is that between 2000 and 2005 the world will be reaching peak production from our known fields," Bernabe said. "After that output will decline." But demand, he added, would continue to rise inexorably. Last week I asked about Peak Oil to a friend of mine, an economist executive at ENI. I expected him to laugh on my face, but instead he asked me how could it be that I know so much about the topic, and then admitted there's a problem. He didn't seem surprised at all when I talked about the overesteem of Saudi fields, and he said that the Peak is expected any moment. He added also that our military in Nassirya are there to patrol those Iraqi ENI fields, very precious for the times coming. Leonardo Mauceri is only adding his voice to chorus of "Don't worry, there's plenty". But the situation is quite different. [/QUOTE]
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