Monday, April 26, 2010

Are the Saudi oil reserves less than 1/2 now from when Aramco was booted out?

In 1979 their est. reserves were 106 billion barrels. Since then they have shipped around 50 billion barrels. They would not (or could not?) increase their output. Have they explored for more oil? Many do not think they have. They claim they now have 256 billion barrels?Are the Saudi oil reserves less than 1/2 now from when Aramco was booted out?
Saudi Arabia is a closed state, and they don't allow outsiders to check their claims -- and so we don't know. With technological improvements to harvesting and refining oil being developed all the time, it's entirely possible that the Saudis themselves don't know.





Whole-world access to Saudi oil is a matter almost entirely of politics, at this point in history. As you've noted, even *their own* numbers keep changing. Aaargh.





Powerful incentive for all of us to drill for oil *anywhere* outside of Saudi Arabia, yes?

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