Forecast of Rising Oil Demand Challenges Tired Saudi Fields

http://www.nytimes.com/2004/02/24/business/24OIL.html?hp

When visitors tour the headquarters of Saudi Arabia's oil empire — a sleek glass building rising from the desert in Dhahran near the Persian Gulf — they are reminded of its mission in a film projected on a giant screen. "We supply what the world demands every day," it declares.

For decades, that has largely been true. Ever since its rich reserves were discovered more than a half-century ago, Saudi Arabia has pumped the oil needed to keep pace with rising needs, becoming the mainstay of the global energy markets.

But the country's oil fields now are in decline, prompting industry and government officials to raise serious questions about whether the kingdom will be able to satisfy the world's thirst for oil in coming years.

Energy forecasts call for Saudi Arabia to almost double its output in the next decade and after. Oil executives and government officials in the United States and Saudi Arabia, however, say capacity will probably stall near current levels, potentially creating a significant gap in the global energy supply.

Peak Oil

Illinois back in the 40s, he was getting about $12,000 a month back in those days...now they're bringing in about 400. Just about used up. There aren't an awful lot of places that haven't been thorougly looked into these days. It's generally believed in the awl bidness that ANWR probably has just a year or 2 worth there. I'm glad I don't have any kids because things are gonna get a lot worse before they (or if) they get a lot better.
:grr:

(the powers that be have got to know this) what is the push for guzzlers?

I guess I'm just plain stupid, 'cause I don't get it.

edited to add this link: http://www.lifeaftertheoilcrash.net/

it seems, about rising tide news stories. "Peak Oil" discussions have been been near daily for 5-6 weeks now.

Sadly, although I consider myself reasonably intelligent, I have no idea what to make of this individual story or the larger peak oil thing. Oh, I believe both to be true. I just do not know what the world, and America in particular, is going to do in reaction. I'm usually optimistic, but I must say these stories spawn some *very* ugly scenarios for me. The implications are just almost too vast to grapple w/.

It's like some cosmic flip side to the whole climate change issue in *so many ways*. I know there is the isohaline flip possible in global warming, but after following it fairly closely, the graduated nature of the problem gives hope for a gradual consensus to build. By definition, we will be acting too late, i.e. we should have already.

But this, this is a more clearly drawn tipping point, and--if happening now--it seems upon us in a sudden way in which the world is not prepared for, especially psychologically. The phrase "Nature, red in tooth and claw" keeps coming to mind....

You can say that!!! And when the truth comes out, what then? What will the people do, and how will governement respond?

If I was cynical (and I am ;) ), I'd say it is allready a planned thing. When the governement(s) finally admits the truth, at least in USA, where the elit don't trust the people because people are ignorant and rightly don't trust the elit, there will be panic and social unrest enough to justify tough measures. Hence, in the name of safety and stability, wellcome military dictatorship...

Is there other way? Will Americans suddenly grow up and start acting like responsible adults instead of the big pampered babies they are? Compered to other people, Americans have not really suffered any hardship, they make terrible noise about relatively small event like 9/11, but when it's really going to hit them with financial meltdown and Peak oil about the same time, can the reaction be anything but be too stunned to do anything sensible, just panic and look for scapegoats in a time honoured manner...?

The Gray Lady not only mentions Ghawar by name, but mentions its less-than-stellar prospects for the massive increases in production that those crazy cockeyed optimists at DOE have cooked up for public consumption!

I think I'll go swallow my tongue in sheer shock.

No, on second thought, I'll have a little more wine!