The folks studying peak oil issues at The Oil Drum have a fantastic chart posted regarding Saudi Arabia's oil production. Despite record high prices during the past two years and a history of helping to soften price spikes with increased production, Saudi oil production has fallen steadily.
It may be the "smoking gun" that the Saudis have reached their oil production peak - quite a concern given that they represent 1/8th of world supply.
No comments:
Post a Comment