Interesting thought on the subject http://www.blackenterprise.com/yb/ybopen.asp?section=ybin&story_id=95202275&ID=blackenterprise We also have one of the three largest oil fields in the world, two have peaked. Mexico announced that its giant Cantarell Field entered depletion in March, 2006, as did the huge Burgan field in Kuwait in November, 2005. In April, 2006, a Saudi Aramco spokesman admitted that its mature fields are now declining at a rate of 8% per year, and its composite decline rate of producing fields is about 2%, thus implying that Ghawar, the largest oil field in the world may have peaked. New drilling in Saudi Arabia may be able to replace a portion of that country's production decline. Above taken from peakoil.com I really think we will be seeing $80+ a barrel this summer and higher by the winter. The world really is in for a tough old time real soon.