"Massive production cuts will be made in the fourth quarter, as it is vital that we are correctly positioned to face 2009, " said Mr Streiff, although exact details were not available.
In this piece, we will expand that discussion to talk about how the massive production coming out of the Eagle Ford and other oil and gas shale plays in Texas are affecting the national and international supply and demand picture.
FORBES: The Texas Shale Oil & Gas Revolution - Leading the Way to Enhanced Energy Security
Already, despite its massive oil production of roughly 2 million bpd, Venezuela imports increasingly large amounts of gasoline to compensate for a deteriorating refining system.
FORBES: Deadly Venezuela Refinery Blast Likely To Increase Demand For U.S. Gasoline
The rate of growth of oil production this year has crawled nearly to a stop and experts predict an imminent and massive decline in gas production and exports due to insufficient investment in the industry.
Without Sabathia, they felt a responsibility to shoulder Sabathia's massive workload and dominant production.
But paper production consumes massive amounts of fresh water, pollutes the water it doesn't use and is a major generator of hazardous air pollutants.
He established Al Jazeera the Arab world's ubiquitous television network, and began programmes to upgrade Qatar's educational, healthcare and infrastructure facilities funded by massive increases in hydrocarbon production.
In the coca-growing heartland of Colombia, the southern province of Putomayo, there was a massive drop in registered drug production.
Now, with precious few other opportunities to invest massive amounts to gain material production growth, Exxon is moving full speed ahead.
FORBES: Exxon's 'New' $14 Billion Field Was Discovered 30 Years Ago. What Took So Long?
"In 2010, the rate will get much higher, perhaps 10%, 13% because the plunge in production is so massive, firms will fire a lot of people, " he said.
We described how relaxation of depreciation rules in the early 1990s led growers to plant excess acreage in Australian vineyards, producing a 40% hike in production and a massive grape glut.
The ferocious seasonal rains that hit the country in October 2011 caused massive flooding which disrupted the production of hard disk drives, cameras, microchips and automotive parts and assembly plants.
FORBES: Thai Power Woes Threaten Tech Supply Chain; How To Respond
Cellulose fuel production would require a consistant base product so it would become necessary to secure massive amounts of plant fiber to ensure uninterrupted production.
At current production rates, the massive shale gas wells across North America hold enough to last for a 100 years.
FORBES: Chesapeake Says Frack, Baby Frack As Stock Gushes To $35
For shale gas production to succeed on a massive scale, public confidence will be essential.
WSJ: Daniel Yergin on the Shale Gas Revolution: Stepping on the Gas
There has been no information, however, contradicting his assertion that the massive Ghawar field could soon see declining production.
The March 2011 earthquake and tsunami in eastern Japan and massive flooding in Thailand whacked Japanese car production, adding to the woes created by the yen's rise in the past few years.
WSJ: Japanese Car Makers Report Production Increases in China
Recessions reflect the market transference of scarce resources from that production geared to an outmoded reality (massive housing starts, etc.) and into a new paradigm satisfying the demands of the future.
In Spain, government officials saddled with massive spending cuts have it the brakes hard on supporting domestic production or installations.
The ruling will most likely accelerate the boom in ethanol production in the United States, which has attracted massive investments in the past few years from companies like British Petroleum, DuPont, Cargill and Archer Daniels Midland.
With gold production working at full capacity, combined with the massive outstanding paper gold position, increased demand for physical gold can only be satisfied at much higher prices, which we are likely to see in the next few months.
The drill ships and production platforms required to undertake such deep drilling are massive floating structures, much larger than the largest aircraft carriers and costing well over a half billion dollars (and close to a million dollars a day to rent).
The large Japanese automaker suffered the effects of the massive earthquake-cum-tsunami of early 2011, which disrupted its production and reduced its market share.
FORBES: China Auto Sales: GM Sold One Car Every 12 Seconds In 2011
Since the campaign began, production of generic injectables declined by 30 percent, contributing to a massive shortage.
The 2009 and 2010 vintages saw relatively flat production volume amidst the economic crisis and in the wake of a massive bumper crop in 2008.
The company suffered a massive decline of over 10% in gross margins last quarter due to higher production costs on account of rising cotton prices.
It is these types of massive political and social upheavals, more than the eventual greening of global energy production, that will ensure that hydrogen power would indeed change the world.
In the 1940s and 1950s, by extending the trends of population growth and food production, it was scientific fact that the world was on a collision course with massive starvation.
As these and other policies boosted savings by constraining consumption, other policies, like those aimed at engineering massive loans to capital-intensive manufacturing at very low interest rates, forced rapid growth in domestic production.
It has also led to a massive surfeit of CO2 emissions permits, pushing the price of carbon, and therefore the cost of coal production, sharply lower.
BBC: Coal resurgence calls undermine clean energy commitments
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