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Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported

 
johngaltfla
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02/08/2011 09:31 PM
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Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported
Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported




By John Galt
February 8, 2011

God Bless you Matt Simmons.

The man who wrote a book I read years ago, Twilight in the Desert, was given even more validation in his arguments thanks to the Wikileaks group tonight per a story breaking at the Guardian U.K.:
WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices

You my dear readers, are reading that correctly. The fantastic, must read article linked above from John Vidal has this one quote which sums up the severity of the egg on the face of 90% of CNBC’s guests who disputed Mr. Simmons, and those who wished to destroy the credibility of a man’s research which was considered impeccable until the powers that be opened up a two front propaganda assault to defame him:

The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom’s crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%.

Without a doubt this is the most destabilizing geopolitical story that I have seen in years. If the truth is revealed to the markets and the House of Saud is convicted by the markets of being the liars that they are, then they do not have the political nor economic capacity to keep a lid on Islamist fundamentalism in Egypt via their Wahhabi brethren in the Muslim Brotherhood, much less their own nation for very much longer.


Game over.


Got petroleum products stored up yet?

[link to johngaltfla.com]

ahhh
Anonymous Coward
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02/08/2011 09:39 PM
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Re: Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported
5a
Ragman (Rags)

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02/08/2011 09:40 PM
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Re: Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported
John, I know, I started that thread when you said that on your show....

Thread: WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices .... Breaking

Goofy Thum
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02/08/2011 09:48 PM
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Re: Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported
I will always give GLP props for being on the oil spill far far beyond any worthless US media channels. Now all we need to do is figure out wtf actually has happened? But since media are still illegal (?) in the gulf and nobody is allowed (by local PD I guess?) to film, and nobody's got any desire to find out, I appreciate people like you who keep the fire alive OP. Five stars and a prayer.
Anonymous Coward
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02/08/2011 09:59 PM
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Re: Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported
Yes, and the US has hundreds of times more.
Anonymous Coward
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02/09/2011 12:06 PM
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Re: Matt Simmons Validated: Saudi Arabia may have 40% Fewer Oil Reserves than Reported
Yes, and the US has hundreds of times more.
 Quoting: Anonymous Coward 1211743


Yes, at far lower energy invested to energy returned ratios, making a barrel of oil far, far more expensive. Plus, capital would be required to start production, which right now with the markets indicating a top could be very difficult to find.





GLP