Libyan National Oil Chairman - "There Is A Very Real Problem" - 100 MB/D "May Not Be Possible"

[hatrack]

LONDON, Oct 30 (Reuters) - Leading figures from the Middle East oil industry added their voices on Tuesday to those warning that the world is struggling to sustain rising oil production.

"There is a real problem -- that supply may not be possible to increase beyond a certain level, say around 100 million barrels," Libya's National Oil Corporation chairman Shokri Ghanem said at an industry conference.

"The reason is, in some countries production is going down and we are not discovering any more of those huge oil wells that we used to discover in the Sixties or the Fifties."

EDIT

"So many people are talking about the peak oil theory," Ghanem said. "It is not the figure itself but the principle that the world cannot continue being able to produce oil infinitely."

EDIT

http://africa.reuters.com/wire/news/usnL30807475.html?rpc=401&

[tom_paine]

1. Now I have seen everything. A Libyan Oil Minister more truthful than the Bushist Government

I mean, it's nothing we haven't seen before since the Bushied seized and destroyed the American Experiment (1776-2000, RIP) but it always is FUN to watch.