Lessons Learned from 2008

4:47 PM Posted by Baris Sanli
Sadad Al-Husseini a veteran Saudi Aramco exexcutive has came up with a series of suggestions. These may not be new, but can be alarming bell for the next oil price rally in 2010. Some interesting notes:

The oil price surge that started in 2003 and collapsed in 2008 had its
roots in 1998. ....
What action is required?
  • A regularly updated listing of all future oil and natural-gas-liquids (NGL)
    projects.
  • Future capacity costs.
  • Proven reserves categorization.

Creating an institution to house such a process is
the best way to begin to deal with the oil-supply challenges that must surely
lie ahead.

Ref: JPT Online, http://www.spe.org/jpt/print/2009/08/7GuestEditorial.pdf

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