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Bahrain: Big Bang in Pipeline

Unread postPosted: Sun 12 Nov 2017, 10:39:22
by EdwinSm
Not many details in yet but
An explosion ripped through an oil pipeline near the village of Buri in northern Bahrain.

Bahrain's interior minister, Sheikh Rashid bin Abdullah Al Khalifa, said in a statement that the blast was "the latest example of a terrorist act" and blamed Iran.

Iran has denied any involvement.

I wonder what will happen to oil, and oil prices, if the Shia - Sunni (eg Iran - Saudi Arabia) problems get much worse. In that case we might get a clear Peak OIl (Production) Date 8O :twisted: :oops:

I know there are different ideas of what "Peak Oil" is, but Production is something that can be measured and has some reasonable data to go with it. I think we will never be able to say when Peak Oil is if the definition is "half the oil is used", and therefore for practical purposes that definition is of little value.