Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
It is a great interview - it isn't often that an industry insider is willing to debunk the conventional wisdom.  His book, Twilight in the Desert, is also interesting, and does a good job of making technical points accesible to curious outsiders.  

When people ask me how the current crisis is different from the last one, I usually turn to Simmons.  He pointed out that we have not discovered a truly giant oil field (capable of producting more than 1 million barrels per day) since the early 1970s.  Back then, we still discoverd more oil than we produced every year, but now we produce twice as much as we discover.

by corncam on Thu Aug 18th, 2005 at 10:21:45 AM EST
Actually, Simmons seems to forget about the Caspian, which definitely deserves to be labelled a new oil province, and the Kashagan field, discovered in 1999, and the 5th largest ever. Tengiz also qualifies on size, but I don't remember when it was discovered.

Offshore Angola arguably also qualifies as a new province.

Of course, these two exceptions do not invalidate his point, quite the opposite.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Thu Aug 18th, 2005 at 02:09:50 PM EST
[ Parent ]


Occasional Series