* Saudi Arabian oil production is now in decline.There could be many reasons for a production decline such as seen in 2006. But you'd think with prices being as high as they were, production wouldn't have fallen so precipitously? Staniford goes thorugh the data including a reasonable explanation for the brief uptick in production during the summer. He further offers to bet anyone that Saudi Arabia's production will never reach 10 million barrels per day.
* The decline rate during the first year is very high (8%), akin to decline rates in other places developed with modern horizontal drilling techniques such as the North Sea.
* Declines are rather unlikely to be arrested, and may well accelerate.
* Matt Simmons appears to be right in Twilight in the Desert, but the warning did not come until after declines had actually begun.
I'm a very lucky person with every allergy known to man but still happy to be enjoying a wonderful life living in the best place in the world!