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[Egregious Moderation] Neil King: Global Oil-Supply Worries Fuel Debate in Saudi Arabia: Husseini, 61 years old, lives across the street from the Saudi oil minister, Ali Naimi, in a leafy neighborhood of Dhahran, the Aramco company town on Saudi Arabia's east coast. The suave but sharply opinionated petroleum geologist says most of the big oil repositories have been found, and no amount of gadgetry will restore bubbly youth to aging fields from Indonesia to the Gulf of Mexico.

 [The Oil Drum - Discussions about Energy and Our Future] Saudi Arabia’s Crude Oil Reserves Propaganda: The way I approach things now is that instead of trying in vain to explain peak oil I just tell these folks that oil prices will fall back down soon because of new oil fields coming online, new refineries, bio-fuel, more drilling, new discoveries, Saudi Arabia increasing production again, the powerful oil lobby conspiracy, oil futures, if only they would allow to drill in Alaska...pick an excuse. So they shouldn't worry, keep driving that big SUV, drive everywhere, etc.

[Tom Hull] Bad Money: Conference-goers in London heard experts from two OPEC nations -- Sadad al-Husseini, former chief of exploration and production at Saudi Aramco, and Shokri Ghanem, chief executive of Libya's National Oil Company. Ghanem told the audience that world production could not go above 100 million barrels a day, and that when that ceiling was reached -- optimistic U.S. officials projected that level of output by 2015 to 2020 -- global production would start to decline.

[The Indypendent] Market Madness: How Speculators are Manipulating & Profiting from ...: In 2004 the New York Times recounted one speculative episode: “When low inventories and news of violent attacks on oil executives and facilities in Saudi Arabia drove oil futures up, speculators piled on, according to market analysts. Their buying forced crude prices up even higher, attracting yet more investors betting on a continued rise, and so on in a classic spiral.”

 [kickgas Weblog] Nat Geo Explains World Oil: Since Saudi Arabia and other members of the Organization of Petroleum Exporting Countries control 75 percent of the world’s total oil reserves, their output will peak substantially later than that of other oil regions, giving them even more power over prices and the world economy. A peak or plateau in oil production will also mean that, with rising population, the amount of gasoline, kerosene, and diesel available for each person on the planet may be significantly less than it is today.

 [Contrarian Profits] Saudi Arabia Divided on Oil Policy: The Wall Street Journal picks up a spat between Sadad al-Husseini ”” who’s convinced Saudi Arabia’s salad days are behind it ”” and his one-time protege Nansen Saleri ”” who thinks plenty more oil can be found.

 [mrgreen.Biz] Peak oil: As scientific understanding of petroleum geology has increased, so has our understanding of the earth’s total recoverable reserves. Since 1965, major oil surveys have averaged a 95% confidence Estimated Ultimate Retrieval (P95 EUR) of a little under 2,000 billion barrels (320

[Peak Watch] The Saudis Are Blowing Smoke Again: al-Naimi, Saudi Aramco President and CEO Abdullah Jum'ah, and Dr. Nansen Saleri, formerly head of reservoir management for Saudi Aramco, delight in trashing the "peak oil"

 [WSJ.com: Environmental Capital - WSJ.com] Peak Oil? Saudis Squeeze the Stone Even Harder: Other once-formidable oil producers like Russia, the U.K., and Mexico are all seeing production decline as fields age. While Aramco has been very good at squeezing the maximum amount of oil out of each reservoir, even the world’s biggest oil producer is finding that it’s no longer shooting fish in a barrel:

 [Navellier | All Cap Blog] Rising Oil Prices Series: Part IV: Al Husseini, former head of exploration and production for Saudi Aramco, the Saudi Arabian state-owned oil company, tallied up some numbers he’d been gathering since the mid-1990s and determined that crude oil output would level off around 2004, plateau for a maximum of 15 years, then begin a gradual but irreversible decline.

 [Austin Dwi Lawyer] Gas-Pump Gouging; Just Don’t Blame The Saudis By Mike Whitney: "Now we have the Saudi oil summit this weekend and Saudi Arabia took 1.5M barrels a day off-line since July of ”˜05 in a series of cuts and is currently producing just over 8Mbd out of their estimated 10.5Mbd maximum capacity. It is forecast by the EIA that next year OPEC alone will have over 3Mbd of spare capacity so this would be a terrible time for global demand to take a nose dive or there are going to be a lot of idle wells”¦ Should global demand drop another 5% in the next 12 months, we could be looking at 8Mbd less demand than there was just a year ago.

 [Navellier | All Cap Blog] Rising Oil Prices Series: Part I: That’s hardly the kind of forecast we’ve been hearing from oil companies, especially Saudi Aramco, which sits atop some of the world’s largest proven oil reserves (including the Ghawar field), which altogether hold around 260 billion barrels of oil, around a fifth of the world’s known supply, according to National Geographic. And true to form, Saudi Aramco and Saudi Arabia’s oil minister downplayed the data.

 [Austin Dwi Lawyer] Dealing with Gasoline Prices by Dale Allen Pfeiffer: The peak oil gene is out of the bottle, at least so far as investors are concerned. They only have a partial understanding of peak oil, but it is enough for market speculation to drive prices out of sight.

[A to Z Energy ETF] DrumBeat: June 6, 2008: The Oil Drum - TOD is a very interesting community-blog with a focus on peak oil and future energy sources. Lots of data-driven analysis of all things related to energy and energy use, with plenty of debate spilling over into the frequently long-running (and often illuminating) comment threads.

[Stock Market News & Stocks to Watch from straightstocks] How the New Oil Crisis Affects You: Saudi oil executive Sadad Al-Husseini said last June: “There has been a paradigm shift in the energy world whereby oil producers are no longer inclined to rapidly exhaust their resource for the sake of accelerating the misuse of a precious and finite commodity. This sentiment prevails inside and outside of OPEC countries, but has yet to be appreciated among the major energy-consuming countries of the world.”

 [The Oil Drum - Discussions about Energy and Our Future] DrumBeat: January 24, 2008: When writing about peak oil and related matters in the category of doom and gloom, one encounters Nietzsche’s paradox: There are only two kinds of readers, those who already know, and those who will never know, so why bother? Isn’t it the case that to be caught in such a circle is solid evidence of an obsessional neurosis?

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