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Originally Posted by ChalkLine
I worked on LNG pipelines for a while, and I know the following;
- The Moombah gas fields are officially tapped out.
- The North West Shelf gas fields are past peak.
The only LNG fields available to us now are half owned by Timor Leste.
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I've heard in many places that oil has reached the "tipping point" -- over half of the oil originally in the world has already been pumped out of the ground (61% is the figure I hear most often for oil). Natural gas has also reached the tipping point -- a bit less than 51% has already been tapped.