For the past few days there has been a very lively discussion at The Oil Druum regarding the state of Saudi oil production specifically at Ghawar field. It is the sort of discussion that would be beloved of reservoir engineers, petroleum geologists, and statisticians everywhere. Common folk like us can barely keep up other than to discern that data is being posted, analysis and opinions are expressed and, in some cases, perspectives are changing. It has been quite the ride. Bottom line; these Internet sleuths have dug up nuggets of data that, when strung together hang together and tell quite a story.
If their conclusions turn out to be wrong, they will be spectacularly, and embarrassingly wrong. I doubt it will come to that, but we'll see. If you must buy a car, get a Prius. If you have a car, check funds -- gas is probably going up, way up.
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