134525W.Europe....look eastward for more oil
- Mar 7, 2014The decline in oil production in Western Europe continues unabated.http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=50&pid=57&aid=1&cid=&syid=1995&eyid=2013&freq=Q&unit=TBPDFor Western Europe as a whole, oil production (primarily North Sea)has continued it's relentless decline. Having peaked in 2001 atabout 6.5 million barrels per day it is now less than half that atabout 2.9 million barrels per day, and still falling.What would people in the US be saying and doing if oil production wereless then half of the 2001 level and expected to continue to fall?Libya was certainly one idea the EU (and US) had for expandingoil access. That hasn't worked out too well so far as ousting theexisting government merely led to warfare amongst the tribes, nocentral government and a sharp decline in oil production as fightingover control of the oil remains a problem for any production.But, east of Eastern Europe lies a wealth of oil production tobe seized in the name of democracy. Europe currently is returningto coal to fill the void as best possible to stave off further economicdeclines. Perhaps this will have a better outcome, or perhaps worse.At any rate, the politicians are once again hauling out the flagsand hitting the stumps to proclaim a better life ahead for the region.The masses are cheering the move to liberate the people's of the regionfrom the yoke of tyranny, etc.W. Europe desperately needs more oil. That our press doesn't mention thematter should surprise no one.
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