Radical Noesis - Thinking outside the box

First, we read on Platt (one of the leading and most respected information sources in the oil world) that...

Saudi Aramco's mature crude oil fields are expected to decline at a gross average rate of 8%/year without additional maintenance and drilling, a Saudi Aramco spokesman said Tuesday.

8% a year is a lot: it means that losing this much production every year Aramco fields will be depleted in 12 years.

Then, all of the sudden we discover that one of the biggest hopes we had in mitigating the effects of existing fields decline will probably have major problems in keeping up production (reported by Reuters):

Oil supplies from Russia will fall short of expectations over the next four years, adding to supply concerns, the Financial Times reported on Wednesday, citing a senior International Energy Agency (IEA) official.

I mean, what else do we need to understand that end of the oil era - with all the things that this means - is approaching quite fast?

Still, these news (and what we should be ready to do when oil will become scarcer and scarcer) are not making the headlines. Uh, but Dave Chappelle is. Ah, all is well, then. Don't worry.