Repent! The End of the World is close at hand….

I am a skeptic when it comes to peak oil. I am a skeptic when it comes to scare talk of Saudi Arabia running out of oil. But today, I must confess that the facts do not seem to be on the side of the skeptic.

I think that everyone who is interested in the subject and certainly every skeptic should read this post by Stuart Staniford over at the Oil Drum (ht Belmont Club). He lays out an excellent case that Saudi Arabia has hit peak oil and is now on a downward trend.

I would love to see a good rebuttal, but the best people can come up with is that Saudi Arabia is cutting production deliberately. Normally I would buy that argument, but it does not fit with certain other data like the huge amount of rigs that are in Saudi Arabia at the moment. Read Staniford’s post for the details.

I will write more on the subject latter when I have had a chance to think it over more. But for right now, my thoughts are pretty much the same as this comment that I have taken from the post….

I cannot and will not disagree with your analysis per se, it is a good one, and of course Stuart is always on top of things…we will just have to wait and see.
This may be the end of the Saudi road as far as having the production clout to pull it off (we all know that day has to come…when is the question), but I am still very cautious about them…..I am an old man, and the spectre of 1982 still haunts me….

I am not an old man, but I know what he is talking about. The so called experts have been very wrong in the past. But that does not mean that they will always be wrong. I would like to think that Staniford is wrong, but I would like stronger reasons for thinking so then just skepticism.

2 Responses to “Repent! The End of the World is close at hand….”

  1. […] _uacct = “UA-1202685-1”; urchinTracker(); Map of the Ethereal Land The Ethereal Voice Front Page – Politics – Money – Knowledge – Art – Food – Fun Masthead About Repent! The End of the World is close at hand…. By Ape Man | March 3, 2007 – 12:01 pm Posted in Category: Front Page, Money I am a skeptic when it comes to peak oil. I am a skeptic when it comes to scare talk of Saudi Arabia running out of oil. But today, I must confess that the facts do not seem to be on the side of the skeptic. I think that everyone who is interested in the Click Here to continue reading. […]

  2. […] In an earlier post I already mentioned an article by Stuart Staniford that made me think this might be the case. Since then the debate has moved forward. A man by the name of Euan Mearns responded with a well written article of his own that was critical of Staniford’s methodology. […]

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