“In the old days, Saudi Arabia had plenty of spare capacity and could always flood the market with extra oil if supplies got pinched. But that’s no longer the case. Global demand is growing too quickly, and the Saudis are running out of spare capacity. Nor will new, unconventional sources alleviate the problem entirely… However you want to define peak oil, it looks like we’re in for an uncomfortable ride.”

— Brad Plumer, Washington Post

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