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Page added on April 29, 2006

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Peak Oil for Saudi Arabia?

At yesterday’s Peak Oil presentation to Hamilton City Council, Richard Gilbert mentioned a little-reported event that may mark the day that the earth tipped past its oil production peak.


Amazingly, a search of news reports turned up virtually nothing. I eventually tracked down the original report from Platts Oilgram News: Saudi Aramco announced on April 10, 2006 that Saudi Arabia’s mature oilfields “are expected to decline at a gross average rate of 8 percent a year without additional maintenance and drilling.”

..
But get this: the spokesperson went on…


Raise the Hammer



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