View Single Post
  #62 (permalink)  
Old 05-04-2008
mabus's Avatar
mabus mabus is offline
Secretary of Defense
typical "Old-European"

 
Member Since: Oct 2002
Location: fawning germany
Posts: 3,236

Germany     United_States

Re: Massive Oil Deposit could Increase US reserves by 10x

Exxon Pumped Less Oil on the Way to $10.9 Billion Profit - US News and World Report

I know this proves nothing but that Exxon pumped less oil, but I consider it to be a harbinger of Peak Oil. If they had pumped more, they could have sold that oil, too, and that would have generated additional revenues. But they have enough money to buy access to new deposits. And this investment would have generated additional revenues. But still in the end, they weren't able to produce as much as they produced before. Well, we all know that there is only one way for a corp. not to earn more money: By not beeing able to do so. Seems that the oil-"crisis" has become serious enough to hit (the first?) oil-giant.
__________________
Im Grabe schlummert ein neues Morgenrot.
Reply With Quote