Interesting story from 60 Minutes on Saudi Arabia's oil business.
The energy industry is unsure of what Saudi Arabia's actual proven oil reserves are, as they produce millions of barrels a year and their stated proven reserves never go down.
Part 1
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Part 2
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2 comments:
Interesting read:
Twilight in the Desert. I think it was published back in 2005 or so.
Author goes in depth on the Saudi reporting of oil reserves.
I read a review of the book when it first came out but have not read it.
Hard to say exactly what the Saudi's actually have for reserves. If the truth is not as they state, and it was ever discovered, it would be quite a shock to the market.
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