In performing research on the interaction between the price of a barrel of oil and the decrease in the relative value of the dollar to world currencies, I came across a interesting article on the decrease of Saudi oil field production rates despite the increased price of oil. It seems that Saudi oil output declined 8% in 2006 - what does this mean? The mighty Ghawar oil field is already in decline, and the Saudis don't want anyone to know.
http://www.theoildrum.com/node/2393
How does this fit with Iraq? Who is close enough to the Saudis to have known about this for some time? The Bush Family of course.
How does the US involvement in Iraq help the Saudis - I don't know ... but there are up to 200 billion barrels of oil in Iraq. http://www.boston.com/business/articles/2007/04/19/iraqi_oil_reserves_may_be_twice_as_large/
What will happen if the Saudi's run out of oil by 2010?
Alternative energy sources are looking better all the time.
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