Comment 266

By eric (registered) | Posted March 02, 2006 at 11:40:19

I work in the oil and gas industry and I'm very familar with the issues of peak oil from a geological and petroleum engineering aspect. We're in complete denial as an industry and as a society about what we are facing. The Saudi's are buying technology today that indicates their fields are indeed watering out and that they have overproduced them for a number of years. Huge amounts of oil will be left in the ground forever because of the mistakes made over the past 30 years. The Cantrell field in Mexico has now peaked. These are the supergiants of the world. There are no new prospects out there that will be able to replace them. The die is cast. We are at peak oil now. How we deal with it is the only question left to answer.

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