Tag Archives | global oil production

Saudi Arabia’s Oil Overestimated by 40%, Wikileaks Reveals

Looks like peak oil might be even closer than we thought — the most recent Wikileaks cable released by the Guardian has revealed that US diplomats are convinced that Saudi Arabia has overestimated its vaunted oil reserves by a stunning 40%. Saudi Arabia is the world’s largest oil supplier, and is widely believed to be […]

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Does peak oil even matter?

It is easy to become befuddled by the current discourse on peak oil. Peak oil is defined generally as the point at which the flow rate of oil to society has reached a maximum. But this simple definition has issues too, such as what should be considered “oil.” Take, for example, the following sentences from […]

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