Even as oil prices hit record highs, the Saudi’s are now warning that they do not have the oil supply to keep up with future demand. With news like this it’s time to start taking peak oil seriously. Matthew R. Simmons, a former bush advisor, recently wrote a book that examines the future prospects of Saudi oil reserves and the implications for global oil production. He finds that the amount of oil left in the big fields may be much lower than is publicly reported and that there is no where else in the world where we can find the oil to make up for the shortfall. This interview with Simmons (part 2, part 3) was one of the scariest things I’ve read in awhile. I guess it’s time to buy a hybrid… (Peak oil previously talked about here and here and here) [from MetaFilter.com]
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