Stuart Staniford, a physics PhD, has been analyzing publicly available data on Ghawar, the world's largest oil field, which is in Saudi Arabia. His conclusion is that the oil in Ghawar has been depleted, which means that production from that field is permanently on its way down.

If this is true, "we have just entered a new phase of history".

Oh no, the Saudis wouldn't conceal data, would they?

Great. Still higher gas prices on the way...