Peak Oil Worries?

Uh oh:

The kingdom's message was clear: Saudi fields can pump oil to market quickly, if demand warrants...

Three industry analysts in the U.S. said the document's overall conclusion—that the Saudis cannot sustain higher than 12 million barrels a day maximum production for the next few years—appeared to be reasonable. "My view is that when they finish their expansion program they are unlikely to be above 12" million barrels per day, says Roger Diwan, a Middle East energy expert with PFC Energy...

Meanwhile in Mexico:

Mexico's average crude exports plummeted 17.3% to 1.46 million barrels a day during the first five months of the year compared to the year-ago period, contributing to record oil prices.

More reasons to drill at home.