There may be a light at the end of the tunnel for PEMEX. A tax cut is in the works. Mexico is considering a flat tax, and the proposal for PEMEX is included in the bill. Now for the part I am having a problem with:
Pemex, the third-largest oil supplier to the U.S., has set a goal of maintaining crude-oil production at 3.1 million barrels per day and add proven reserves equivalent to 100 percent of production over the next six years.
That is a goal that is beyond ambitious. If I am reading this correctly, PEMEX wants to find and develop enough new oil reserves to essentially replace what has been produced. Given the time lag on finding and proving new reserves, I don't see how they can do it. Looks like happy talk to me.
Our cousins across the pond have done an assessment of Peak Oil's impact on rural communities (PDF Warning). Ya gotta love it. The Brits are wide awake and contemplating the impact while we alternately snooze and pimp Chicago as a site for the Olympics. Has anyone considered the possibility that we'll be feeling the pain from Peak Oil at about that time?
If Peak Oil doesn't get us our lack of discipline will. Dave Walker has been sounding financial warnings for some time, and no one is listening. I won't blame him if he says "I told you so" later.
Finally, we are in peak hurricane season and TS Dean and an unnamed TD in the Gulf have resulted in the evacuation of some platforms. Royal Dutch Shell must be having some deja vu
4 comments:
just curious kheris, would you vote for al gore if he ran? i talked to some people close to him, and he is seriously considering it. re-elect al gore!
I don't know. Depends upon what he has to say and whether or not I think I could trust him and live with him as a leader. I am feeling very cynical these days about the two major parties and the 'leadership' they claim to offer.
might i suggest that you read 'the assault on reason'? i agree with you about the current choices. none of them is even talking about the climate, except for the occasional 'green collar job' comment. (rumored to be the big reason al is seriously considering a run.) but al lays it on the line. a real breath of fresh air.
There is no one in the environmmental movement with less credibility than Al Gore.
Not only has Gore proved he cannot get elected, but he lives in one very leaky Glass House, namely a 10,000 sq ft mansion in the Belle Meade section of Nashville that consumes 221,000 KwH of electricity a year.
That's right- TWO HUNDRED AND TWENY-ONE THOUSAND KILOWATT HOURS.
I don't know quite how you do that. Both of our offices put together, with a dozen computers each, air conditioning and heat, come nowhere near that.
People out here are not going to be motivated to change their lifestyles and sacrifice their comforts by a guy with a hydrocarbon footprint like a Mastadon.
I don't accept his justification for it, either. I don't care if he and his wife both run home offices. They can do that and live very luxe lives with a much smaller footprint.
Anyone who wants to run on the eco-peak oil platform had better be prepared to lead by example.
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