Tagged: Oil reserves

Saudi Arabia overstated its oil reserves by 40% 1

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....

President Obama embraces offshore drilling 1

President Obama embraces offshore drilling

I wrote as early as september 2008 that offshore drilling is not a sustainable solution as the added oil reserves won’t enable us to go much further and will keep feeding our global addiction...

Oil reserves are exaggerated by one third 1

Oil reserves are exaggerated by one third

According to the Telegraph : ” The world’s oil reserves have been exaggerated by up to a third, according to Sir David King, the Government’s former chief scientist, who has warned of shortages and price...