Russia Has Peaked… Oil Decline In Siberia

by BWK ~ April 15, 2008

Well, I’ve been discussing this for quite some time. Russian oil production is peaking, per the man from Lukoil — who wears the Red Star, I suppose. So you can trust him, right?

Most of the Western Siberia oil fields were discovered in the 1950s, 1960s and 1970s. Those fields are now in terminal, irreversible decline even with all the able assistance of the likes of Schlumberger and Baker Hughes. So maybe there was another reason that Putin stepped down as President? There are no coincidences, comrade. Old Russian saying goes, “Quit while you are ahead.”

The genius behind much of USSR oil production was Nikolai Baibakov. who just died on March 31 at age 97. His post-WWII leadership of the Soviet oil industry led to discoveries that fueled the USSR, and later Russian Federation.

For more on the story click here.

Until we meet again,

Byron King

Note: Byron King is a frequent contributor to the free e-letter Whiskey & Gunpowder. To receive daily insights into energy, oil, commodities and other natural resources sign up here!

Additional Resources:
The U.S. Oil Supply - A Look At Our Future Oil Needs
Less Oil From Mexico
Oil Above $110 - Oil Service Companies Set To Rise…
Oil Reaches A New High - Time For A Correction or $120 Oil?
Oil Prices Reach An All Time High
Oil Prices Surge - This Oil Stuff Sure is Getting Expensive… $100 Oil
Meanwhile, Out in the Oil Patch…
Peak Oil and the Sands of Time