Yeah, but I think this has a ring of truth to it. It appears to be a confession of a truth western oil experts have long suspected; that the Saudis have pumped out most of what they have.
The Saudis didn’t get a limitless supply, and just like Pennsylvania and Texas, after 3/4 of a century of pumping oil the end is in sight. Now, it’s probably still a long way off; even 60% of what they claimed to have is a lot of oil. The economic problem is that they can no longer bring a daily supply to market to keep the price down.
I would not doubt that this was discussed by George W. Bush the last time he went to grovel before the degenerate Saudi king for more oil back in 2008. The Saudis have enough of an economic stake in America that they didn’t want a collapse like we are going through. If they could avoid it by opening up the faucets a little more, they would have. I think the Saudis told Bush “it’s not that we won’t, it’s that we can’t.” Bush, being a savvy oil man, knew he had to keep that under his hat.
The real problem is that the current regime should know these facts, and isn’t doing anything constructive in our own country. We should be drilling our brains out, building nukes, and converting our plentiful coal into synthetic fuel. But no, our leaders would rather tilt at windmills.
My other take on this is that once Saudi oil production starts to decline, you are going to have some serious political instability in the Kingdom. It will only get worse as time goes by. There is no sustainable economic activity there, thanks to their adherence to their barbaric medieval religion. My guess is that they will run through their oil money, and sell us back all our property (or sell it to the Chinese). In 20 to 25 years, their empire turns back to sand (a prize for anyone who can quote artist and song).
And keep in mind that the Chinese and Japanese get their oil from the middle east (we get more of ours from Canada). Watch them try to open up OUR reserves for their own use.
Those resevoirs are filling up faster than we burn it, PO is a giant conspiracy hatched by the NWO and its secret tentacles, I know it I read about it on the internet.
That’s what I see. Well said. Agree with everything you wrote here.
(a prize for anyone who can quote artist and song).
ooh. oh let me guess. Jimi Hendrix, castles Made of Sand. least thats what comes to my mind.
FWIW, the Saudis really have not yet started secondary recovery like TX and most old US oilfields. Most oilfields produce about 30% of oil in place naturally, then require reservoir pressure maintenance, mostly by water injection, to continue recover, albeit at a lower rate and higher cost.
If the Saudis could go to massive scale secondary recovery quickly, say over 4-5 years, they still are likely going to have production rate decline, despite reserves going up. If they have already been counting secondary recovery potential as reserves, then the the global capacity probably is in a bind. This is not due to limits of mankind’s abilities, but due to the restraints of governments.
Bob Dylan, Times They Are Changing?