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malco

Mexican Oil Production About To "peak"

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A senior engineer within PEMEX has acknowledged that Mexican oil production is about to peak:

http://oilcast.com/

one by one they are falling. Only a few weeks ago the Kuwaitis announced that the Burgan field (the second largest oil field in the world) had peaked.

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This is what a 15% pa decline from Canterell would do to Mexico extraction rates assuming that declines from all other fields are compensated for with new projects.

cantarell.gif

Link: Word from Mexico

The real loser here is the US, 90% of Mexico export capacity goes to the US making them America's second largest supplier after Canada.

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Peak Oil is such a massive issue. It is difficult to get people interested in it for some reason. I'll still be a whinging ace when the power cuts hit and we are all scouring the coast for limpets.

But if the house prices don't crash next year then we don't have long to wait. Peak Oil will feel like we have been tipped from our warm beds suddenly into an icy bath. Few people are expecting the economic crises it will bring.

Some people tell me that there is loads of oil and it will last for hundreds of years. They are not experts in the industry though. The non VI experts I have studied and to whom I have spoken admit that world oil supply will have peaked by around 2010. Plastics, medicines, fertilisers, pesticides, cosmetics, packaging, fuel and many others suddenly becoming much more scarce and costly.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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