Replies to post #2801 on The Rising Influence of Rising Affluence

[DFRAI]

Dewdiligence

should we take the 3% decline experienced by one of the best companies in the world which produces xxx (maybe 2-3%)of the world production, and apply it to the entire universe of companies? in other words consider that as benchmark? I would not go that far...

assuming that only western companies of XOM caliber manage the entire world reservoirs, i would take a more conservative stance and apply 4-5% decline which has been cited in many papers....you certainly dont want to come up short in replacing these reservoir declines (mass hysteria over price increases,

we're giving 40 billion to the hijacked middle east "newly democratic countries" as payoff for what????? a chance to learn their customs or to get access to their oil?

Furthermore, since we parted way with Saudi Arabia (partnership - 1$ discount on the barrel of oil) and with them saying at one point that further production will be saved for later generations (no more oil ? see postings on Ghawar)...i favor to think that the future is very bleak with regards to oil/energy and substantial higher prices are coming.

Thinking of Macondo, Fukushima, the 2 euro countries switching from nuclear to fossils...solar, wind etc, - events that cause monumental changes and directional shifts... that all the research done in MA or elsewhere could not foresee.

I am tired of arguing my case ...that 25 billion of new reserves is not found each year and thats that.

I wish i had Friday's newspaper.