How Big Is The Oil Supply Problem?

If you want to read about the future, start reading about peak oil. World oil production probably peaked in mid-2005, but time will tell. The next 5-year situation depends on whether the Saudis can produce more oil. Their production went down 2005 to 2006, but they still talk about raising production levels due to several billion dollars they are now spending to increase oil production. Their biggest producer, Ghawar, is dying. The next few years will tell us how fast it is dying. Do you believe these Arabs? I don’t, and many experts on the subject don’t either
Goldseek