Doug Henwood Talks

On Jan 30, 2007, at 6:08 PM, Yoshie Furuhashi wrote:

Nawaf Obaid says, “[b]y June 2007, Saudi Arabia is expected to have enough spare capacity to offset all Iranian exports” and “[b]y 2009 / 2010 the goal is to satisfy global demand during a potential disruption from Iran and one of the three other major OPEC exporters (Venezuela, Nigeria or Iraq)” (”Saudi Arabia’s Strategic Energy Initiative: Safeguarding Against Supply Disruptions,” Center for Strategic and International Studies, 9 November 2006, ). That’s worse news to me than anything else on the oil front. :-|

Given how tight supplies have been, unless there’s a serious downturn
in the U.S. and/or China, that’s probably not enough of a margin of
safety. So don’t get too depressed.

Doug

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