Peak Oil as seen through the eyes of Arab oil producers

13 04 2013

Fabius Maximus website

Summary: One of the world’s great energy experts reports on the view from a energy conference in Qatar. Oil is the fountain of their prosperity, and they well understand how brief the Age of Oil will be.

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Reflections by Robert Hirsch on the Conference “Peak Oil: Challenges and Opportunities for the GCC Countries”.

Held at Doha, Qatar on 2-4 April 2013.
Posted with his generous permission.

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I was fortunate to be among the few westerners invited to attend and speak at this first-of-its kind “peak oil” (PO) conference in a Middle East. The fact that a major Middle East oil exporter would hold such a conference on what has long been a verboten subject was quite remarkable and a dramatic change from decades of PO denial. The two and a half day meeting was well attended by people from the GCC as well as other regional countries.

The…

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13 04 2013
yt75

“The fact that a major Middle East oil exporter would hold such a
conference on what has long been a verboten subject was quite remarkable
and a dramatic change from decades of PO denial.”

Because that isn’t the case in the west ?

How about the decades old denial represented by using the “Arab embargo” label for the first oil shock, when it was a direct consequence of US 1970 peak, and further to it, both western majors and US diplomacy were PUSHING for a price rise (necessary to start Alaska, GOM , North Sea). And the “energy crisis” started from the US peak.

Do you know that from Saudi Arabia towars the US the “embargo” NEVER existed ?
Only in words, tankers kept on going from KSA through Barhain to make it more discrete, towards the US Army in Vietnam in particular, about this you can check James Akins interview in below video (after 22:00 or something, and unfortunately dubbed) :

How many Americans today, know that the US went through its peak in 1970 ?

In parallel a rebalance of each barrel revenues between majors and countries ? yes for sure.

People should reread James Akins a bit more (and Walter J Levy).

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