Today's Peak Oil Links
Mexico’s Congress Approves Bill to Reduce Pemex Taxes
Lower taxes will help the company reduce the amount of new debt needed to finance projects designed to turn around a two- decade decline in proven oil reserves, Pemex Chief Financial Officer Juan Jose Suarez Coppel said in an interview on June 15. This year Pemex will add about $2.5 billion of debt to finance its $12 billion spending plan, Suarez Coppel said.
(Peak oil means something different at the country level. Mexico today is still a net exporter of oil.)
Iranâs proven oil reserves put at over 132b barrels
Iranian Students News Agency quoted Mehdi Hosseini as saying. He said, âIranâs proven oil deposits have officially been put at over 132 billion barrels, 102 billion barrels of crude oil plus 30 billion barrels of liquids, and the figure has been registered by OPEC (Organization of Petroleum Exporting Countries) too.â He rejected some estimates that put Iranâs exploitable crude deposits at about 40 billion barrels and commented, âI do not agree with that figure.
(Everyone wants their number to appear higher, but the reality is you only know for sure when it runs (almost) dry)
U.S. Senators Weigh Gulf of Mexico Oil Inventory
“The big-picture politics have changed,” said Mark Ferrulo, executive director of the environmental group Florida PIRG. “We’re seeing the most aggressive and vociferous attacks on Florida’s coast by the industry and their allies in Congress that we’ve seen in many years.” Joe Murphy, coastal expert for the Sierra Club in Florida, said this year marks the biggest threat of large-scale drilling off Florida’s coast in the past 20 to 25 years. “The industry smells the blood in the water.”
(Why bother seriously promoting conservation and alternatives when there are still places to drill?)