Can the Saudis' statements regarding their oil production be trusted?
Here are some facts:
1. In early 2006, as I mentioned earlier, the Saudi stock market collapsed:
tradingeconomics.com
2. Also in 2006, as I mentioned in post #30, six members of the Gulf Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) commissioned a study on the peaceful use of nuclear energy. Doesn't this strike people as rather odd for a region swimming in fossil fuels?
3. Then in January 2010 in Davos, Switzerland, as I reported in post #43, the head of Saudi oil giant Aramco, Khalid al Falih, said worries about oil production reaching a peak are now over.
google.com
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It appears to me the Saudis are being very astute in protecting their self-interests. Maybe if people had a less patronizing attitude towards the Saudis they would recognize them for the shrewd businessmen they are. |
