Has Saudi oil output peaked?

Thursday, April 14, 2005

Please click the headline for a very interesting article about the world's biggest oil producer, Saudi Arabia. It overtakes my intention to write a longer piece about the concept of peak-oil-production. Just to tell you so much now: Oil production has peaked or is about to peak in 38 of the 42 major oil producing countries. Read also this scientific paper from 1998 by Richard Duncan and Walter Youngquist.
Oil prices are to stay above 50 $, no matter what efforts will be undertaken to use it more efficiently.


Wikinvest Wire