Heard enough about Pain at the Pump? The 24-hour news love to cover the "unreasonable" record gasoline prices, but the real issue is crude oil supply--and this latest installment of Stuart Staniford's highly detailed analysis of the world's largest oil field, Ghawar in Saudi Arabia, provides new evidence of sharply declining production. Can Saudi Arabia really increase supply to meet world demand that is surging on growth in India and China? Signs point to no--in the past week they have again voted to maintain OPEC's "voluntary" production cuts, and their petroleum minister commented that there may not be a "need" to increase Saudi production much further.
posted by DAJ on May 15, 2007 - 64 comments

Saudi Arabia, the leading exporter for three decades, is not running out of oil. Industry officials are finding, however, that it is becoming more difficult or expensive to extract it (weblog safe NYT link). A very readable article that, without even mentioning it, does a good job of explaining what is "the peak of oil". Cornucopians, that should sent shivers down your spine!
posted by samelborp on Feb 24, 2004 - 59 comments

The Saudis are about to deliver an ultimatum to Bush In a bleak assessment, he [Prince Abdullah] said there was talk within the Saudi royal family and in Arab capitals of using the "oil weapon" against the United States, and demanding that the United States leave strategic military bases in the region. Such measures, he said, would be a "strategic debacle for the United States." How should Bush respond?
posted by Rastafari on Apr 25, 2002 - 58 comments

Covering for our "oil buddies" It seems there were some choice statements about Saudi support for Osama's terrorism that were removed from last week's "party tape". Wouldn't want to mess with Bush/Cheney's oil pals, now would we?
posted by owillis on Dec 20, 2001 - 27 comments