has saudi arabian oil peaked?

I know I posted about this yesterday, but this article on The Oil Drum was just too good to pass up. Go read it now. At least look at the charts. Because if this is even half-true, then peak oil really is upon us.

And it's a bit awful of me, but I can't seem to stop myself from gloating a bit internally at the sight of this graph, which seems to put peak right where I thought it would be: late 2005 or early 2006. But on second thought, it's not really that awful of me. Peak oil, if handled right, will be good for our society in so many ways: better communities, less selfishness, less materialism, and more cooperation. Or it could mean more wars, famines, and rumors of wars. Like most situations, it all depends on how we react to it.