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Politics : Politics for Pros- moderated
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To: KLP who wrote (251243)5/22/2008 2:25:16 PM
From: miraje  Read Replies (2) of 793896
 
Do you read that the Saudi's are "nearly out of oil", or that they are at pumping at "top capacity".....

I don't think that anyone would argue that the Saudis are nearly out of oil. Whether or not they are capable of increasing production or are at a peak is another matter..

Although Saudi Aramco is probably the best managed of the NOCs (national oil companies), they are quite secretive as to the extent of their actual remaining reserves (no independent verification allowed).

I have read several sources that state that the only "excess crude capacity" that they currently have is of the heavy sour variety, of which usage is currently constrained by lack of refineries capable of handling it.

Matt Simmons has written a book on Saudi oil reserves, Twilight in the Desert, that is quite sobering..

twilightinthedesert.com
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