Mexico's oil output cools

Daily output at Mexico's biggest oil field tumbled by half a million barrels last year, according to figures released by the Mexican government. The virtual collapse at Cantarell - the world's second-biggest oil field in terms of output at the start of last year - is unfolding much faster than projections from Mexico's state-run oil giant Petroleos Mexicanos, or Pemex. Cantarell's daily output fell to 1.5 million barrels in December compared to 1.99 million barrels in January.

Mexico's troubles at Cantarell mirror the larger problems in the global oil market. Many of the world's biggest fields are old and face decline, which can be sharp and sudden. Like other big producers, Mexico is struggling to make up the difference because new big fields are in harder-to-reach places like the deep waters of the Gulf of Mexico.

The field's decline is expected to continue, if not worsen, this year, according to most estimates. That will subtract valuable oil from the world market, which is under pressure from rising demand by growing economies like China and India. It also means less oil headed to the U.S. from Mexico, which has long relied on Mexico as one of its top-three oil suppliers. "This is bad news for Mexico. The field is declining faster than even the government's pessimistic scenarios," says David Shields, an oil industry consultant in Mexico City who has been warning about Cantarell's collapse for the past two years.

Indonesian islands at risk from global warming

itn.co.uk :

Indonesia could lose as many as 2,000 islands by 2030 due to global warming, the country's environment minister has warned. Rachmat Witoelar said studies by UN experts showed that sea levels are expected to rise by about 89cms by 2030.

He said that would mean about 2,000 mostly uninhabited islands being submerged. But he added: "We are still in a better position. Island countries like Saint Lucia, Fiji and the Bahamas are likely to disappear." Indonesia, which consists of 17,000 islands, has been trying to avert such a scenario by reducing its reliance on fossil fuels and switching to bio-fuels, he said.

(2007-01-30 13:02:22 SGT) [Env] Permalink

Greenland, or why you might care about ice physics

energybulletin.net -> theoildrum.com :

The CIA reports that Greenland has an area of 2.2 million km² - slightly more than three times the size of Texas - and a population of 56,375 humans. A "flat to gradually sloping icecap covers all but a narrow, mountainous, barren, rocky coast". The ice sheet covers about 80% of the land, and contains about 2.5 million cubic kilometers of ice. If all that ice were to melt, it would increase global sea level by about 7m, or 23 feet.

... for perspective, here's an EPA map of the portions of the US east coast that would be inundated by 1.5m and 3.5m of sea level rise. 3.5m would be reached halfway through a Greenland icesheet collapse. As you can see, the total area isn't that large, but it includes a pretty large fraction of many of the east coast's coastal cities. That would be expensive.

(2007-01-30 12:49:17 SGT) [Env] Permalink

Main | Next day (Jan 30, 2007) »

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out