World's 2nd-Largest Oil Field to Drop Production by 8 Percent

8% is the magic number in the North American oil industry these days. First, BP institutes a pipeline closure that results in an 8% drop in total American oil capacity, and now Pemex is announcing that its Cantarell oil field, the world's second-largest, will drop 8% in production this year. Hear that? Yes, people, it's the sound of gas prices on signs having their numbers replaced with "2nd Mortgage" and "You Can Live on Only One Kidney!"

Pemex Says Cantarell 2006 Production to Decline 8% [Bloomberg]

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Something In Our Synapses Assures Us We're Okay: Is BP Greenwashing? Is it Worth Anything? [Internal]