IS SAUDI ARABIA RUNNING OUT OF OIL? Actually, I hope so. (And it’s okay with me if Iran runs out, too). But it’s certainly a reason — well, another reason — to be pushing shale oil / tar sands, etc. Earlier post on this topic here, and don’t miss our podcast with Roger Stern and Lynne Kiesling, here. (Via PJM).

UPDATE: Related thoughts here.