'Iran's oil, gas production goals unrealistic' (Decline rates increasing -who's next?)

Iranian news ^ | April 6, 2005

[Truth666]

Decline rates in Iran are said to be rising, with onshore declines up from seven to 8% a year and offshore rates at 13% a year, the report said.

[Truth666]

Peak oil -who's next? Not many more choices left... BTW, oil prices just climbed 4% in one hour.

[Rodney King]

Barron's had an opinion piece this weekend where a guy suggested loading up on energy stocks after their massive two year run up, and should now be considered "insurance". Insurance? If that isn't the sign of a peak, then I don't know what is.

[Spktyr]

It's not peak world oil, just peak Middle East oil. When the oil runs out, they're all going to be screwed. All the more reason to ignore our environazis and crank up US/ANWR operations.

[grobdriver]

“This means Iran is losing 350,000 barrels per day of capacity a year and there is a possibility of the decline rising to 500,000 barrels per day annually before the end of the year,“ Fesharaki said in his report.

For anyone else who was wondering, "What the hell is a decline?

[sionnsar]

Ability to produce, I'd say.