Matthew Simmons President, Simmons and Company International Mahmoud Abdul-Baqi Vice President, Exploration, Saudi Aramco Nansen Saleri Manager, Reservoir Management, Saudi Aramco February 24. 2004 http://www.csis.org/energy/040224_transcript.pdf
----- Original Message ----- From: Wojtek Sokolowski To: lbo-talk at lbo-talk.org Sent: Tuesday, September 21, 2004 7:45 AM Subject: RE: [lbo-talk] the petro-thusians have their moment
Doug quoted WSJ:
> The oil industry calls Dr. Campbell a crackpot. Since he began
> writing about a looming peak, the industry notes, he has
> progressively postponed his predicted date, from 1995 to 2005. This
> roughness of the numbers, the industry says, points to a more
> fundamental problem with the peak-oil theory: It underestimates the
> power of technology to find more oil -- indeed, to broaden the
> concept of oil itself.
Of course, the oil industry is known for its rock solid judgment, as documented, inter alia, by their belief that oil spills can be prevented and maintained:
For an interesting account of the mind set of oil (and other energy) execs and experts see Lee Clarke, _ Mission Improbable: Using Fantasy Documents to Tame Disaster_.
Wojtek
___________________________________ http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk