[lbo-talk] Oil touches $57 per barrel, many OPEC members at or above capacity

Miles Jackson cqmv at pdx.edu
Fri Mar 18 11:27:25 PST 2005


On Fri, 18 Mar 2005, Andy F wrote:


>
> --- Jordan Hayes <jmhayes at j-o-r-d-a-n.com> wrote:
>> I've wondered for a while if this isn't some sort of
>> back-room deal.
>
> I've read and heard from non-hysterical sources that
> the Saudis are pumping all-out already to the point of
> damaging the reservoirs and some other OPEC members
> aren't even making their quota. I imagine Iraq isn't
> exactly at capacity, though.
>
> Andy

I've said it before and I'll say it again: Hibbert's peak is upon us. Hate to be gloomy, but given the geological realities and our insatiable demand for crude, we're fucked.

Miles



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