http://online.wsj.com/article/SB1208..._us_whats_news

Folks this is the most clear news yet that peak oil has arrived and passed. Oil is trading at an all time real price high, yet Saudi Arabia (the #1 world exporter of oil) is not interested at all in increasing production.

"All the latest projections, at least up to 2020, do not require anything higher," Saudi oil minister Ali Naimi told Petroleum Argus in an interview. "Unless we see really genuine demand, we have to pause right now and see what happens," he said.

For those with subscriptions note the bias inherent here. Its not that Saudi Arabia doesn't _have_ the oil, its merely that they just aren't interested in increasing production.

Sure...the natural resource that gives your nation all its wealth its trading at an all-time high in the history of the world but they just aren't interested in selling more. Sure.