From Aljazeera:
The Bank of Montreal's analyst Don Coxe, working from thier Chicago office, is the first mainstream number cruncher to say Gharwar's days are fated.
Gharwar is the not only the largest oil field in Saudi Arabia, it is the largest in the world.
"The combination of the news that there's no new Saudi Light coming on the market for the next 7 years plus the 27% projected decline from the existing fields means Hubbert's Peak has arrived in Saudi Arabia", says Coxe....
Anyone still wondering why we are in Iraq?
The whole article is worth a read.
http:/english.Aljazeera.net/NR/exeris/08B97BCF-7BE6-4FID-A846-7ACB9BOF8894.hlm
If link doesn't work, google peak oil - latest news.