Pattyp, the BP stat review I have read before. It shows that Russia would have to find more than 20 Sakhalins to just make up the required gap between world production and world consumption. Production was nearly four million bbls PER DAY short of consumption last year. The writting is on the wall folks, open your eyes. The platform I work on produces an average of 100,000bbls/day, we are probably one of the most reliable platforms in the world, after 5 years our production is in decline, that's natural. Oil will clearly continue to rise in the short and medium terms until the world reduces it's consumption. Other hydrocarbon and LNG prices are starting to spiral as well. Sure, there'll be rises and falls at times but we can kiss goodbye to the sub $100US/bbl days for a long time. If we use more than we can produce we will use up our stored inventory, this is what is occuring, that inventory is getting low.
