WikiLeaks: Saudis Overstating Oil Reserves


secret cable newly released by WikiLeaks reveals that a senior Saudi government official has been warning American diplomats that the Arab nation’s oil reserves may have been overstated by as much as 40 percent, or 300 billion barrels. Saudi Arabia is by far the world’s largest oil exporter; if the official is correct, it is virtually certain that long-term crude oil prices will rise more quickly than previously expected.

via WikiLeaks: Saudis Overstating Oil Reserves | Smart Journalism. Real Solutions. Miller-McCune..

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Author: Bill

Birder, cat-lover, pilot, poet. Former lounge lizard, pauper, pagan, lifeguard, chauffeur,cop and martial artist, turned pacifist addiction writer. Tries to be a good husband, father and brother, and makes a decent friend. Likes to take pictures. Stumbling down the Middle Path, one day at a time.

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