[NYorkerInHouston]

First I have heard of this. It's not Ghawar but as the second largest oil field in the world, it's close. So much for the it can't happen in the middle east crowd. Anyway with luck it will still be several more years before Saudi Arabia needs to make a similar announcement.

[Semper Paratus]

Thanks to the RINOs more Alaskan oil is 12 years out now instead of 10.

[SoFloFreeper]

The peak output of the Burgan oil field will now be around 1.7 million barrels per day, and not the two million barrels per day forecast for the rest of the field's 30 to 40 years of life...

Oh my LORD!! Only 30-40 more YEARS?????

[pabianice]

Wait, wait; don't tell me! This "news" is direct from people in the oil futures market. Right?

[Just mythoughts]

Ah Putin the heir apparent in Oil and our Soros funded moderate publications cheer.

[Dallas59]

Then we start with our coal...

[SlowBoat407]

Then we open up our own oil fields and clean up! What a brilliant plan the enviros and libs cooked up - preserve our oil resources until the rest of the world runs dry. I congratulate them on their foresight, shrewd planning, and inventiveness.

I can dream, can't I?

[Brilliant]

Remember when Saddam set these fields on fire? All the more reason to fry him.

[Eagles Talon IV]

Do NOT use this as an excuse to drill ANWR!!! The Caribou, oh the poor Caribou!!! The inhumanity of it all!!!

[untrained skeptic]

The article tries to spin this as much as it can a an imminent disaster.

The oil field is still going to be producing oil for another 30 to 40 years, and it's not producing the amount of oil it was at one time, but it's still producing a huge amount of oil.

It does show a need to aggressively persue new sources for oil, and for alternative energy sources.

[Graycliff]

Time to put them on a pump. No big deal. Thats what we do when they quit flowing.

[MeanWestTexan]

In West Texas and New Mexico -- some 75-85% of the oil and gas is still in place -- just got to pay the big bucks ($60/barrel will do nicely). We have just as much as the ME ever thought about.

In reality, the USA is using up the world's cheap oil first, while sitting on the reserves of the expensive oil.

It's not a bad position to be in, for long-term USA strength.

[angkor]

http://www.ncpa.org/pub/bg/bg159/

"Are We Running Out of Oil?"

NATIONAL CENTER FOR POLICY ANALYSIS

Oil production from tar sands in Canada and South America would add about 600 billion barrels to the world's supply

Rocks found in the three western states of Colorado, Utah and Wyoming alone contain 1,500 billion barrels of oil.

Worldwide, the oil-shale resource base could easily be as large as 14,000 billion barrels — more than 500 years of oil supply at year 2000 production rates.

[Author] David Deming of the University of Oklahoma's School of Geology and Geophysics is an Adjunct Scholar with the NCPA.

[Doodle]

Every oil field "starts to run out of oil" as soon as the first production well comes on line.

[GOPJ]

When ME oil runs out, some very nasty chickens are going to come home to roost.

[DustyMoment]

GOT IT!!

The "delicate tundra" is good for keeping the soil from being naked!!!





(Yeah, THAT's it!)

[RandallFlagg]

Strangely, I'm sitting here wondering what porcupine caribou burgers taste like.

[FreedomCalls]

I know where there's some more.

[CodeJockey]

The author needs a refresher course in the English language.

the second largest oil field in the world is exhausted and past its peak output

Exhausted would imply that it has been 100 percent consumed and obviously past its peak output. After that statement I was not sure if the rest of the article was accurate.

[HamiltonJay]

Even if every liquid oil field in the world dried up, we know where enough oil is for another 200+ years.. its just harder to extract.... so this doom and gloom of running out of oil is nonsense at this point.

[Lazamataz]

I've read about new tech that makes it easy and profitable to get oil shale -- of which we have massive amounts domestically -- to yeild oil.

I'm not worried.