by Don Stowers --
Simmons says that if he is right about Saudi oil production and the official rebuttal is wrong, no other country or supplier is capable of making up the loss in production if output is lost. He adds that advanced oilfield technology may be keeping well productivity high, but questions if this is sustainable or if technology is accelerating the last easily produced oil.
'If Ghawar experiences significant production declines, Saudi Arabia's oil output will have peaked,' said Simmons. He added that if Saudi Arabia's "oil miracle" begins to fade, the world has no "Plan B" prepared.
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