Ah, Peak Oil. Now that takes me back…
If I remember correctly, certain folks thought that Saudi Arabia had peaked back in 2011 back at 9 million bpd - and would have consumed all of its own oil by now:
https://discussion.fool.com/saudi-hits-peak-oil-29252788.aspx?so…
https://discussion.fool.com/one-definition-of-peak-oil-and-it-mi…
You’d have to be a real cornucopian to predict that a decade later Saudi Arabia would still be producing about 10.7 mpbd (give or take), have years left of production and room to grow another 3 mbpd on top of that. To say nothing of U.S. oil production basically doubling - and staying doubled from around that time frame.
A lot of the old ASPO and Peak Oilers have long gone (Deffeyes and Campbell have passed on, Matt Savinar is now an astrologer, etc.). Daniel Yergin long ago took his victory lap. And the Red Queen still hasn’t run out of steam…
Albaby