WSJ: Saudi Arabia to double investment in energy production – Apr. 22, 2005
Ali Naimi, Saudi Arabia’s oil minister, also said the kingdom had tossed aside its production cap set by the Organization of Petroleum Exporting Countries and is willing to sell its customers every barrel of oil they want
Back when the US peaked the same thing happened – we reached 100% production capacity. Saudi Arabia putting aside production caps suggest that they are pumping at capacity. It may take some time to recognize whether or not we are at peak but this is a disturbing sign. There is a long thread about this news at the Peak Oil Forum.
