Year: 2006

The unfolding crisis has enormous implications both for the world as a whole and for the small but growing community of people involved in preparations for Peak Oil. Mainstream reporting seems to miss much of the context of events and, when discussing the Middle East, the geopolitical struggle for control of energy resources nearly always forms much of that context.
…At the ASPO conference a well-connected industry insider who wishes not to be directly quoted told me that his own sources inside Saudi Arabia insist that production from Ghawar is now down to less than 3 million barrels per day, and that the Saudis are maintaining total production at only slowly dwindling levels by producing other fields at maximum rates. This, if true, would be a bombshell: most estimates give production from Ghawar at 5.5 Mb/d.