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Out to Shock the World over Saudi Reserves

AS President George W Bush strolled around his Prairie Chapel ranch in Texas last week with Saudi ruler Crown Prince Abdullah, oil prices were high on the agenda during talks between the leaders of the world’s biggest energy consumer and largest oil exporter.

At the same time, Matt Simmons, one of Bush’s energy advisers, was at a conference in Edinburgh, spelling out harsh facts on Saudi oil production which, if proved true, would have severe repercussions for the global economy.

Simmons’s belief is that Saudi has been overstating its oil reserves for years, its biggest oil fields are in decline and it will struggle to live up to its promise to crank up daily output from around 10 million barrels a day to 12 million by 2009 and later 15 million to meet global demand.

Sunday Herald

Posted on Saturday, April 30 @ 17:15:28 PDT by Carrie

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Re: Out to Shock the World over Saudi Reserves (Score: 1)
by killJOY on Sunday, May 01 @ 03:20:07 PDT
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At last, a summary of Mr Simmons' career and life. The more I learn about him--I have to admit--the more I don't care for him. Another son of privilege with an MBA and ardent Bush supporter.

This makes me take what he says all the more seriously, I have to say. It's easy to agree with people we like. When people from opposite ends of the spectrum start agreeing, then something's up.

Re: Out to Shock the World over Saudi Reserves (Score: 1)
by LogicMan on Sunday, May 01 @ 04:25:26 PDT
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The comment about Bush supporting him, "And what does Bush think of Simmons now? “He tells me to keep speaking out loudly and honestly about our energy situation,” " is revealing to me. Bush knows, but for stabilities sake he can't say it. He'll support this slower creep of information though. Really, if Bush were to come out and state this whole deal Savinar style, we'd be in for just as big of a roller coaster ride, but immediately. Bush is controlled, no doubt, but he knows the truth, and if someone who isn't controlled can get the maessage out all the better.

Re: Out to Shock the World over Saudi Reserves (Score: 1)
by nylon38 on Tuesday, May 30 @ 03:44:55 PDT
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