From Zero Hedge...

Sometimes we wish the oil minister of former OPEC member Saudi Arabia ("we can supply any amount of oil"), Wikileaks ("Saudi Said To Have Overstated Crude Oil Reserves By 300 Billion Barrels or 40%"), and now Saudi Arabia's very own electricity company would coordinate their story. In a little noticed comment by Abdel Salam al-Yamani, head of the Saudi Electricity Company, in Al Mashka, which so far has been captured by only El Economista magazine, has provided the most recent insider confirmation of peak oil: a very troubling development for those who still naively believe that Saudi Arabia has any marginal boosting capacity, or more importantly, is willing to risk pumping more than possible. Yet, caught between a revolutionary rock and various other cartel nut cases, Saudi will soon be forced to sell as much oil as it can in order to placate it increasingly angry population with ever greater and ever more frequent "gifts" buying the transitory admiration of its people.

Since the long term impacts of confirmed peak oil are rather obvious to everyone, we will merely recreate the relevant soundbites from El Economista:

The electricity company of Saudi Arabia has set off alarms to warn that oil in this country could be depleted by 2030 if left unchecked domestic consumption. According to a report of this company, it is estimated between 2.5 and 3.4 million barrels a day.

The report, published in the magazine Al Mashka of the company itself says that the increase in domestic consumption of oil is one of the main challenges facing the country, mainly because oil accounts for 80% of national income.

Abdel Salam al-Yamani, head of the Saudi Electricity Company also warned of the consequences for citizens to ignore the calls to save electricity and water, and has advised that they depend more on solar energy.

http://www.zerohedge.com/article/electri....

Saudi Arabia without oil = Somalia.

Part of the problem is you don't know who to believe. All governments (including our own) lie and jawbone when confronted with threats to their continued ponzi schemes.

The fact that an internal small player is contradicting the official Saudi govt line is telling. I wonder if he'll have an "accident" in the next few weeks.

Export Land Model in action. Might be more accurate to say that SA will run out of export oil by 2030.

Wake me when daily output exceeds 2006 levels. Until then it looks an awful lot like peak oil.

I agree on the PO bit. However, Saudi Arabia completely running out by 2030? Really?

The domestic consumption is killing them.

Should be posted in Tin.

Fraudster wrote..

I agree on the PO bit. However, Saudi Arabia completely running out by 2030? Really?

Perhaps running out of enough to export after domestic use.

Ghawar went into production in 1951. Look at the rates of decline on the North Slope and Cantarell and the current production rates vs. peak rates and remember both were put into production much later in the 1970's. The Saudi's hide the data so we don't know for sure but it would not shock me to see their production rates crash in the next decade based on the age of the fields.

This is not tin.