Saudi Arabia overstated its oil reserves by 40%

To the Guardian : ” The US fears that Saudi Arabia, the world’s largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in show.

The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom’s crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%.

Now this is serious and gives a lot of credibility to the claim that Saudi Arabia’s oil production peaked in 2005 as I was reporting as early as 2009.

1 thought on “Saudi Arabia overstated its oil reserves by 40%”

  1. if we don’t want to be pulling the horse cart out of the museum, we’d better put the SUV on a diet and build bicycle lanes or put the armies on solar only mode.
    lifestyles are the responsibility of individuals–each and everyone.
    well applied subsidies for appropriate technologies are the realm of the governments. shall the two meet upon a solution for the prevention of societal melt down due to food- water and energy?

Leave a Comment

Your email address will not be published. Required fields are marked *

%d bloggers like this: