31 May 2008

Indonesia leaving OPEC

According to a story that ran in the WSJ on Wednesday, Indonesia now is only a marginal net oil exporter, and its energy minister has announced it will leave the Organization of Petroleum Exporting Countries (OPEC) at the end of 2008.

One odd aspect to the story, in the second paragraph, reporter Tom Wright refers to Indonesia as "Asia's only OPEC member." Presumably he meant "East Asia" there. Obviously, Saudi Arabia, the United Arab Emirates, etc. are in Asia. I wonder how that got past the editors.

Jeff Matthews, on his blog, employs this announcement as an object lesson in "peak oil," the theory that the world has passed the peak in oil production, it's all downhill from here.

Indonesia's oil fields were once quite a big deal in the over-all global industry. They were the foundation of Royal Dutch/Shell. Indonesia's production peak came in 1977 in 1977, when it was extracting 1.7 million barrels a day of the best stuff: more formally known as "light sweet crude."

Indonesia's remaining production is 0.2 million barrels a day. Simle arithmetic gives us a difference of 1.5 million barrels -- or the loss of as much oil as we get from Prudhoe Bay, Alaska.

The planet Earth isn't a donut with a huge jelly-like center of light sweet crude. Get used to it, people!


Anonymous said...

I am so glad a member of our tribe has introduced so much bliss for your globe.
We are stubborn, at times argumentative (in my case, constantly) and bossy but, in the end, we purpose to make sure you.
And you seem like similar to a lovely man who
takes her feedback and ideas in stride, happy to oblige in her quest to produce you appear your best.

By no means try to buy her shoes like a shock gift but a
present card to Loubouitin or Sergio Rossi will rock her
planet. Excellent luck for you each

my weblog ... Tips For Attracting Women

Anonymous said...

It's a tiny space but pure joy!!!!

My webpage: arrow sheds greenhouse

Anonymous said...

What about a fundamental job interview question for any founder of the business:
how do you generate profits?

My site - facebook statuses attract women

Anonymous said...

I absolutely concur along with your publish. I've lived here for almost three years now and you are so right about the misleading figures. Fun location to complete factors and celebration, but boyfriend and partner are couple of and far between. My solitary buddies have told me stories which have made me think 2 times about being right here. After my contract is up in seventeen months, I'm outta right

Check out my web page; attract the right woman

Anonymous said...

I am taking F1 three spoon, F3 a single spoon, with fruits, oat, yoguth and prums for breakfast every single morning.
it truly is okay? i did medical chek out when a month.
the consequence proven the diabetic under handle in the great condition.
but i loss 2 kg after 3 months taking the product.
it's ok.?

my web page :: john berardi precision nutrition review

Anonymous said...

I really have a tiny backyard shed. It used for being the neighbors
wash shed from long ago. It's "my" small place. It truly is yellow using a white picket fence. I enjoy it. Everyone should have one particular.
Donna McBroom-Theriot recently posted..Banana Split by Josi S. Kilpack

Here is my weblog :: cheap arrow sheds

Anonymous said...

I do not prefer to add people I am dating to FB or Twitter but occasionally it really is unavoidable.
It is hard to have a DJ identify for so lengthy and
become "ungoogle-able". How I stay away from this becoming a problem is that I'm like you inside the perception which i normally talk about my mixtapes or crack jokes. I used to be on Twitter ahead of Fb and that i do most of my networking there. I only joined Fb as a result of loved ones but I identified I grew to become extremely picky about who I want to add there. My loved ones can be nuts and though I'm confident I am not adopted,
I never need a potential mate to see that prior to

my homepage :: online dating scams ghana

Anonymous said...

Momma usually mentioned "3 prosties each day keeps the medical professional absent."-guy having a mom who suggests issues

My homepage premature ejaculation treatment without medicine

Anonymous said...

I love your blog.. very nice colors & theme. Did you create this website yourself or did you hire someone to do it for you?

Plz answer back as I'm looking to create my own blog and would like to find out where u got this from. thank you

Feel free to surf to my web site :: vigrx plus promo code

Anonymous said...

Ugh i have braces right now which sucks sht but i
have to offer with them for like another year... =[ i guess i will live but being 22 and having braces sucks... also i cant use any tooth whitener b.c it will like ruin the braces... i dont know what to do. And what does baking soda do for teeth??? i only use it to get the bad smell out of my basement... =] Can som one answer my questions?

My website - teeth whitening strips before and after

Anonymous said...

Sorry to break your illusion, but Cutler himself has admitted that he uses steroids.

Should you google Ronnie Coleman steroids you'll get to a page where there is a video in which Cutler admits himself and a lot of other pro bodybuilders using. He says that they want to get an edge irrespective of what it will take, soon after which he talks about steroids. So there you go.

My webpage - six pack shortcuts pdf download

Anonymous said...

Wonderful article, well believed out! I packed my luggage and I'm relocating to Boston!

Visit my web-site female mind mastery kirsten price

Anonymous said...

i m from chennai and my age is 20
before 1 yr i went 2 gym and reduce to 15 kg now my weight just isn't reducing and accordin to my bmi i have to lessen a lot more 8 kg ..so i believed of takin herballife but ahead of i have consulted my family heomeopathy abt it she states that there will b a aspect effect in this i dont no wat two do ... my thyse r massive so plz plz inform me any thin which could minimize my weight too as will come to my proper shape ...plz plz aid me guide me..

Feel free to surf to my weblog; John Berardi Precision Nutrition Free Download

Knowledge is warranted belief -- it is the body of belief that we build up because, while living in this world, we've developed good reasons for believing it. What we know, then, is what works -- and it is, necessarily, what has worked for us, each of us individually, as a first approximation. For my other blog, on the struggles for control in the corporate suites, see www.proxypartisans.blogspot.com.