Saudi Oil Woes?
My friend Chase pointed me to an incredibly detailed analysis of the Ghawar oil field in Saudi Arabia. There's a lot of speculation in there, but the short version is that Ghawar is probably about 85% depleted at this stage.
It's a bit dry, but it's a fascinating read, and skimming through the comments ate up a good half hour of my time. Mind you, some of the comments are filled with gloom and doom, but it puts a new spin on the price of oil.
It's a bit dry, but it's a fascinating read, and skimming through the comments ate up a good half hour of my time. Mind you, some of the comments are filled with gloom and doom, but it puts a new spin on the price of oil.