@@JohnBeerschoten Chinaseconomyslwoing , Russia destroying itself in war, Brazil stagnant economy, how is that growing brics apart from the delusional fantasy you jokers live in
@@JohnBeerschoten Chinaseconomyslwoing , Russia destroying itself in war, Brazil stagnant economy, how is that growing brics apart from the delusional fantasy you jokers live in
When you say "even surpass its OPEC obligations", thats the only way this really has an impact. OPEC is trying to rein in oil production, new supply in a member isn't going to have very much impact beyond maybe chaning allocations among individual members, unless OPEC collapses as companies like Kuwait choose to over produce.
You bring up an excellent point. The real impact of this discovery hinges on how Kuwait and OPEC navigate production quotas. While OPEC aims to manage global supply, significant new discoveries can shift internal dynamics. If Kuwait leverages this find to negotiate higher production quotas, it could indeed influence global markets. However, maintaining cohesion within OPEC is crucial to avoiding market oversupply. If member countries, including Kuwait, start to overproduce, it could lead to the very collapse you mentioned, with wide-reaching implications for global oil prices and market stability. It’s a delicate balance, and how it plays out will be fascinating to watch. What are your thoughts on how OPEC might handle such internal pressures?
It's an important point you raise. The balance between economic development and human rights is crucial for sustainable growth. As Kuwait navigates its future in the energy sector, many believe that enhancing democratic processes and protecting human rights can lead to more inclusive and equitable progress. It's a complex but essential discussion for the nation's advancement.
Absolutely, Peak Oil is a critical concept in understanding the future of global energy. The idea that we’ve reached or are approaching the maximum rate of oil extraction means we must rethink our reliance on cheap oil. While discoveries like Kuwait's Al-Nokhatha field provide a temporary boost, they don't negate the broader challenges of diminishing easy-to-access oil reserves and increasing extraction costs. This underscores the importance of diversifying our energy sources and investing in sustainable alternatives.
@@BitcoinTimez I think any belief in a supply side peak oil is largely unfounded. The Canadian oil sands hold enormous quantities of bitumen, the Saudis still produce so much they use it to burn in power plants and desalination plants, Venezuela, Russia, and Iran all have enormous quantities held in by lack of investment, and even the Chinese have large shale reserves. Peak oil is a near term concern, but that's demand driven, and while I expect prices to fall with dropping demand in advanced economies, lower prices will drive uptake in Africa and developing economies. OPEC exists to reduce supply, and struggles to do even that.
That's a thought-provoking perspective. It's true that vast reserves exist in places like Canada, Saudi Arabia, Venezuela, Russia, Iran, and China. However, the challenge isn't just about the quantity of oil but also the economic and environmental costs of extraction and production. While OPEC aims to manage supply to stabilize prices, the dynamics of global demand, especially with emerging markets like Africa, will indeed play a crucial role. Balancing these factors while transitioning to more sustainable energy sources remains a complex yet critical challenge. How do you think emerging markets will navigate the push and pull between affordable oil and the need for sustainable energy?
It's true that global oil consumption is immense, and 2.1 billion barrels would only last a few weeks at current usage rates. However, the significance of the Al-Nokhatha field lies not just in its quantity but in its strategic implications. This discovery boosts Kuwait's reserves and production capacity, which can enhance their influence within OPEC and provide economic stability. Moreover, it highlights ongoing exploration and technological advancements in oil extraction. While it won't solve the world's energy needs alone, it's a notable development in the broader context of global energy markets.
It’s interesting to see how global dynamics shift with every major discovery and alliance. While it's too early to say goodbye to any major player, these developments definitely add a new twist to the global energy game! 🌍
BRICS Gaining more and more power each day!
yeah in thedelusional fantasyland that youlive in
@@eduwino151 Wrong
@@eduwino151 Are you a zionist?
@@JohnBeerschoten Chinaseconomyslwoing , Russia destroying itself in war, Brazil stagnant economy, how is that growing brics apart from the delusional fantasy you jokers live in
@@JohnBeerschoten Chinaseconomyslwoing , Russia destroying itself in war, Brazil stagnant economy, how is that growing brics apart from the delusional fantasy you jokers live in
When you say "even surpass its OPEC obligations", thats the only way this really has an impact. OPEC is trying to rein in oil production, new supply in a member isn't going to have very much impact beyond maybe chaning allocations among individual members, unless OPEC collapses as companies like Kuwait choose to over produce.
You bring up an excellent point. The real impact of this discovery hinges on how Kuwait and OPEC navigate production quotas. While OPEC aims to manage global supply, significant new discoveries can shift internal dynamics. If Kuwait leverages this find to negotiate higher production quotas, it could indeed influence global markets. However, maintaining cohesion within OPEC is crucial to avoiding market oversupply. If member countries, including Kuwait, start to overproduce, it could lead to the very collapse you mentioned, with wide-reaching implications for global oil prices and market stability. It’s a delicate balance, and how it plays out will be fascinating to watch. What are your thoughts on how OPEC might handle such internal pressures?
what im hearing is Kuwait needs some democracy and human rights
It's an important point you raise. The balance between economic development and human rights is crucial for sustainable growth. As Kuwait navigates its future in the energy sector, many believe that enhancing democratic processes and protecting human rights can lead to more inclusive and equitable progress. It's a complex but essential discussion for the nation's advancement.
Most important is the membership of Palestine. ❤❤❤
have you heard of Peak Oil
Meaning?
@@neolithictransitrevolution427 oil supply is the problem , no more cheap oil, the life as it is , is unsustainable
Absolutely, Peak Oil is a critical concept in understanding the future of global energy. The idea that we’ve reached or are approaching the maximum rate of oil extraction means we must rethink our reliance on cheap oil. While discoveries like Kuwait's Al-Nokhatha field provide a temporary boost, they don't negate the broader challenges of diminishing easy-to-access oil reserves and increasing extraction costs. This underscores the importance of diversifying our energy sources and investing in sustainable alternatives.
@@BitcoinTimez I think any belief in a supply side peak oil is largely unfounded. The Canadian oil sands hold enormous quantities of bitumen, the Saudis still produce so much they use it to burn in power plants and desalination plants, Venezuela, Russia, and Iran all have enormous quantities held in by lack of investment, and even the Chinese have large shale reserves.
Peak oil is a near term concern, but that's demand driven, and while I expect prices to fall with dropping demand in advanced economies, lower prices will drive uptake in Africa and developing economies. OPEC exists to reduce supply, and struggles to do even that.
That's a thought-provoking perspective. It's true that vast reserves exist in places like Canada, Saudi Arabia, Venezuela, Russia, Iran, and China. However, the challenge isn't just about the quantity of oil but also the economic and environmental costs of extraction and production. While OPEC aims to manage supply to stabilize prices, the dynamics of global demand, especially with emerging markets like Africa, will indeed play a crucial role. Balancing these factors while transitioning to more sustainable energy sources remains a complex yet critical challenge. How do you think emerging markets will navigate the push and pull between affordable oil and the need for sustainable energy?
So what, that is enough oil to supply the world for 3 weeks, yep just 3 weeks we burn through 2.1B barrels.
It's true that global oil consumption is immense, and 2.1 billion barrels would only last a few weeks at current usage rates. However, the significance of the Al-Nokhatha field lies not just in its quantity but in its strategic implications. This discovery boosts Kuwait's reserves and production capacity, which can enhance their influence within OPEC and provide economic stability. Moreover, it highlights ongoing exploration and technological advancements in oil extraction. While it won't solve the world's energy needs alone, it's a notable development in the broader context of global energy markets.
@@BitcoinTimez fair enough
❤❤❤
👌👌👌👌
byby usa😃
It’s interesting to see how global dynamics shift with every major discovery and alliance. While it's too early to say goodbye to any major player, these developments definitely add a new twist to the global energy game! 🌍
@@Serbes1000 I thought when they find oil in a country it was "Hello USA"