Thursday April 21, 2005 
Thursday April 21, 2005
White House : "Saudi Near Capacity"
There. None other than U.S. President George Bush himself has come out and said it. Do you believe in Peak Oil now? For those who have disagreed with the peak oil viewpoint in the past, the simple phrase "I told you so" comes to mind.
The Bush administration said Wednesday that Saudi Arabia is producing oil at close to its capacity.
"You have to look the situation in Saudi Arabia as well, and I think most people recognize they are producing at near capacity already," White House spokesman Scott McClellan said.
McClellan's comments came a day after President George W. Bush said he doubted Saudi Arabia was producing as much oil as it possibly could and said one question that has to be answered is exactly how much oil Saudi Arabia could produce if it went flat out.
Bush did say that it was clear that Saudi Arabia doesn't have millions of barrels of spare capacity like it has in the past.
See also :
1. Bank says Saudi's top field in decline
2. Saudi Arabia : Hubbert Peak arrived ...
3. Peak Oil May Be Now : Matt Simmons
(2005-04-21 11:12:24 SGT)
[Energy]
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