Tag Archives: oil reserves

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..