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The end of the giant oilfields

lse:char

#1

Interesting article about Ghawar oil field and it’s rapid decline. This has been a closely kept commercially sensitive, secret for some time. I think a number of us suspected it when ARAMCO was floated, as a means of generating alternative and diversified revenue sources. New technology means that the decline side of the oil production curve is much more rapid than it used to be, so this is a significant moment in the history of the oil energy business. The article is a bit OTT, but probably not that far off the mark. I’d be interested to hear your views.

https://srsroccoreport.com/the-end-of-the-oil-giants-and-what-it-means


#2

Interesting article, paints a frightening picture on future energy supply. No idea how rapid production from the Saudis will decline, but if and when it happens it will most likely have a massive impact on global economy. In my opinion nuclear energy (not that I like it) will become the main source of energy going forward.