They Don't Do Gushers in Texas, Anymore

For those who find Peak Oil an important and interesting subject, there's been a good debate over the past few weeks at The Oil Drum (an invaluable resource) over whether Saudi Arabian oil production has now peaked — which if it has that means world production has peaked, too. I'm not technically knowledgeable enough to judge, but if I had to hazard a guess I'd say the more immediate estimates are more likely correct than those for five or more years out. If ever there may be a silver lining, Tom Whipple (a past guest on EP's podcast) in an excellent article last week points out that the recent GAO finding (PDF) concluding that Peak Oil is real does signify, if not a change in U.S. government policy, at least recognition that this problem may bite very soon. To paraphrase Tom, we're getting prepared to stumble into solutions.