Saudi oil well dries up

I am not an oil expert but I have a few hints that this is *happening* in fact.

- A huge project is being run in the Eastern region by a giant multinational electromechanical company. They are working on an innovative technology that works like blow the steam in, get the oil out. The business need of this project is that the level has dropped so much that it's no more possible to use traditional extraction technologies.
- Have been reading about oil movement away beneath earth surface since a couple of years now.
- The history of oil here started since 1930s roughly. Based on the magnitude estimations, a period of 100 years of fossil fuels was assumed that makes sense to most.

Bruckner wrote:

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100019812/saudi-oil-well-dries-up/

At least that's what the report says.
Out of curiosity, does anyone with oil&gas experience/knowledge know if this info can be held as being true?

No this in not correct, such reports is to show to the outside world (OPEC et al) to the scarcity of the crude and maintain the black gold prices in the world. Their are still huge and I mean Huge reserves which have still not been tapped or explored, becoz all the world demands have been met by existing systems.

However, I agree this is a non-renewable source of energy and it will exhaust in the future, But surely not so soon !!!

Till that time I have a job !!!

It comes to no surprise that the oil well are drying up (even if it wasn't true, it is going to happen sooner than expected)

if you look at the World Oil Production graph, you can see that it reached maximum already, and it is already on the decline http://planetforlife.com/oilcrisis/oilpeak.html

saimans wrote:

However, I agree this is a non-renewable source of energy and it will exhaust in the future, But surely not so soon !!!

Till that time I have a job !!!

that i agree on, till we have jobs!!! haha