Peak Oil? or not...

The debate continues...

I figure - it doesn't matter if peak oil is real or not - we still need to reduce consumption and find alternatives because of global warming.

From The Association for the Study of Peak Oil-USA's March 5, 2007 newsletter:

Saudi oil production totals for 2006 show a decline of eight percent over 2005 but the steepness of descent, even after factoring in production from a new series of Saudi wells, appears to be -14%, a steep slope, according to the (international) ASPO, that seems to be consistent with the decline of fields elsewhere that, like Saudi Arabia, have used slant drilling to accelerate production, and which have resulted in steep declines after their peak.

From the Fall Church News - The Peak Oil Crisis: Our 4 Storms:

...Last week the focus of oil depletion returned once again to Saudi Arabia where oil production has dropped about 1 million barrels a day during the past year. As this is considerably more than the Saudis OPEC obligation to cut production, people are starting to ask questions about just what is going on.

The key question is whether the production drop is voluntary or whether the kingdom’s decades-old oil fields are starting to play out. The history of oil depletion is replete with examples of production from water-injected fields dropping like a brick. If this is indeed happening in Saudi Arabia, it will make headlines within the year and the world will never be the same.

A more benign interpretation of the decline in Saudi production is that they still have some years to go and are cutting production to drive up prices, save some oil for the grandchildren, or simply can’t unload the heavy, sulfur-laden crude that is becoming an increasing share of their production. If the latter situation is the case, then all should be well for a while as the Saudis are building new refineries to process the heavy crude and can then market the products....
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And then there is: "Peak Oil" RIP. Official Obit Frontpaged in the New York Times

The New York Times article: Oil Innovations Pump New Life Into Old Wells
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Portland Oregon's Peak Oil Task Force Briefing Book from their office of Sustainable Development.