Building a world of
resilient communities.

MAIN LIST

 

Saudis Challenged To Verify Oil Claims

Energy investment banker Matthew Simmons has challenged the Saudi national oil company to substantiate its claims that it faces no imminent production problems and can reliably supply far greater amounts of oil than at present for at least 50 more years.  In a presentation to the Hudson Institute in Washington, D.C., Simmons outlines concerns raised by his review of more than 200 technical papers about Saudi Arabia's oil production system, which he claims collectively reveal "a forensic pathology".  

He suggests that there could be serious production difficulties at the vast, aging Ghawar field — the world's largest — and questions the abilty to maintain its current rate of production.  He also highlights concerns about reported reserves and future discovery potential within the Kingdom.  Calling on the Saudis to end the long prevailing "trust us" culture of secrecy, he says the world needs to see verified data in a "new era of real transparency". 

Click here to download the full presentation.

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Start your own projects. See our RESOURCES page.
Make connections via our GROUPS page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Peak Oil Notes - Mar 5

A midweek update. Oil prices have been volatile this week as traders attempt …

The Paradox of Oil: The Cheaper it is, the More it Costs

While the exact timing of the current fall in prices may have come as a …

Stranded Assets in Oil and Gas a Reality

Though climate change will no doubt prove to be one aspect of stranded …

IEA report: US shale oil growth practically zero in 2017

US growth is seen to decline to a meagre 160 kb/d by 2017. That is plausible …

Richard Heinberg on Our Renewable Future

Richard Heinberg discusses our renewable future and how to get there.

Peak Oil Review - Mar 2

A weekly roundup of peak oil news, including: -Oil and the global economy …

Oil Prices Don’t Change Because of Rig Count

Oil prices don’t change based on weekly rig count reports. Yet every …