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"The U.S. Office of Naval Intelligence has confirmed that Iran can shut down the strategic Strait of Hormuz through which more than 30 percent of the world's oil supplies pass, according to a report from Joseph Farah's G2 Bulletin. "

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A bit more of peak oil theory is explained here.

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"Abiotic Oil

Addressing the theory in circulation that oil is not solely of organic origin, but that there may be another mode of origin as well from deeper in the crust, involving magma."

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"Saudis ask for aid if world cuts dependence on oil
Associated Press
Oct. 8, 2009, 5:42AM
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BANGKOK — There are plenty of needy countries at the U.N. climate talks in Bangkok that make the case they need financial assistance to adapt to the impacts of global warming. Then there are the Saudis.

Saudi Arabia has led a quiet campaign during these and other negotiations — demanding behind closed doors that oil-producing nations get special financial assistance if a new climate pact calls for substantial reductions in the use of fossil fuels."

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Admiral Abramovich launches his £300million mega-yachtski: The world's biggest (and it even has its own submarine)

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An emergency OPEC meeting on Friday reached swift agreement to chop production by 1.5 million barrels per day (bpd) in an effort to halt a deep oil price slide.

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As the price of oil roared to ever higher levels in recent years, the leaders of Venezuela, Iran and Russia muscled their way onto the world stage, using checkbook diplomacy and, on occasion, intimidation.

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Venezuela's economy minister expects OPEC to agree to cut oil supply at an emergency meeting next week to stem crashing world prices by bringing supply and demand into better balance.

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Iran said on Saturday that OPEC should cut oil output at its emergency meeting next week amid prospects of reduced demand in the face of the global economic slowdown

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Venezuela plans on purchasing Russian-made T-72 battle tanks and armored reconnaissance vehicles as the nations' increase military cooperation, a Venezuelan military commander said Thursday.

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Saddam and Hitler

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Saddam and Hitler

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The biggest ever sale of oil assets will take place today, when the Iraqi government puts 40bn barrels of recoverable reserves up for offer in London.

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Are we going to have an October surprise, an attack on Iran by either the Bush administration or by Israel to stop the regime from becoming a nuclear power?

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Click on the FLASH button located at top right hand siide of the page

The west is not going to allow Russia to flex its muscles in the East bloc

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An Iraqi plan to award six no-bid contracts to Western oil companies, which came under sharp criticism from several United States senators this summer, has been withdrawn, participants in the negotiations said on Wednesday.

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Iran has the power to control the Gulf as no vessel can cross the vital seaway without coming in range of its sophisticated weaponry, a top aide to supreme leader Ayatollah Ali Khamenei said on Tuesday.

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Oil prices came down last week, trading at around $108 a barrel, but he predicts an eventual sharp move upward -- to around $300 a barrel -- owing to a lack of available supply. Barron's caught up with Maxwell recently for his latest assessment.

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We are closing in on some of the dates cited for important defined events such as the peak of non-OPEC oil supply, projected then for 2010. I now believe that certain of these dates should be modified, in this case to 2008.

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delineate charlie maxell peak oil supply demand

- the peak of all liquids production will be in 2015 and for all conventional oil (excluding oil sands, etc) it will be 2013.

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