Indonesia’s Minister of Energy and Mineral Resources, Purnomo Yusgiantoro, announced that his nation would not renew its OPEC membership.

Why? Simple. Since 2004 Indonesia has been a net IMPORTER of oil. The “E” in OPEC is to indicate that a country is an EXPORTER of oil. Therefore, it only makes sense for Indonesia to withdraw from OPEC.

So is this another argument for peak oil? Many observers think so.

Indonesia’s residents are now on motorbikes or in cars; not that long ago they were on bicycles. Not only has Indonesia already tapped their easiest to reach oil, but they have chased out oil companies with excessive royalty extraction making exploration uneconomical. But even if they were to explore, peak oil is indicated by the difficulty they would have in replacing the daily output of past years.

What’s left for oil in Indonesia just isn’t as easy or as cheap to get at.

Naturally, the country now has a smog problem besides.

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