Have Saudi's Overpromised What They Can Pump?
#1
Have Saudi's Overpromised What They Can Pump?
Originally Posted by Story
Despite the recent surge in prices, demand for oil continues to grow — especially from rapidly developing economies in China and India. Global demand is currently about 84 million barrels per day and growing by about 2 to 3 percent a year, which means another 2 million barrels a day or so will be needed by next year. If demand growth continues, even higher levels of daily production will be needed to meet that demand. If production fails to meet demand, oil-consuming nations face the prospect of even higher oil prices, shortages or both.
Article goes on to state Saudi's may be overoptismic that pumping water into existing reserves, etc. will maintain current production.
#2
Re: Have Saudi's Overpromised What They Can Pump?
Originally Posted by Delta Flyer
MSNBC Story
Article goes on to state Saudi's may be overoptismic that pumping water into existing reserves, etc. will maintain current production.
Article goes on to state Saudi's may be overoptismic that pumping water into existing reserves, etc. will maintain current production.
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