Wednesday, April 12, 2006

Significant News: Saudi Oil Fields in Decline from 2-8%

Here it is in black and white:

Saudi Aramco boost drilling efforts to offset declining fields

This is for real. It's coming from an oil industry publication. Robert on ROE2 says 2% decline means slow crash which would be 36 years. An 8% decline would mean fast crash--as in 9 years. Let's hope all of the technology stays online or we're in trouble. Well, how should I rephrase that? Because we're in trouble anyway. Ouch. Not good news.

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