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

US diplomat convinced by Saudi expert that reserves of world's biggest oil exporter have been overstated by nearly 40%

The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show. Full Story »

Posted by Jon Mitchell - via Dave Winer, NewsRack (Energy), The Guardian (US), Memeorandum, Slatest, Thanh Tran (t), Shakthi Sivanathan (t), Randy Benson (t), Jeppe Kabell (t)
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Member Tags: fossil fuels, oil and gas companies, energy industry, World news, US Economy, United States, peak oil, petrol prices, the guardian, oil, commodities, economics, news
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# Diggs: 20 (as of 2011-02-10)
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Posted by: Posted by Jon Mitchell - Feb 8, 2011 - 2:05 PM PST
Content Type: Article
Edit Lock: This story can be edited
Edited by: Jon Mitchell - Feb 9, 2011 - 9:37 AM PST
Jon Mitchell
3.8
by Jon Mitchell - Feb. 10, 2011

This is an alarming report, contrasting official and WikiLeaked information with the assessment of some independent experts.

See Full Review » (11 answers)
Fred Gatlin
4.4
by Fred Gatlin - Feb. 9, 2011

This is quality journalism. We may be close or past the peak oil. Many have considered and written about this but no change has occurred yet.

See Full Review » (19 answers)
Dwight Rousu
4.0
by Dwight Rousu - Feb. 10, 2011

The story is given a boost by wikilieaks publicity, which is good but tardy journalism. This story has been public but suppressed for years. The reasons for the suppression of the story of peak oil are not presented here.

Saudi injection of water underground in old fields to boost oil flow have been reported to be only pushing up the water that is now injected. The move to alternative energy, to cope with peak oil and climate change, has been opposed by capitalists who wish to stuff their pockets selling the last drops of ancient sunlight. The reality of peak oil appears to have been recognized by Cheney and his secret cabal of oil executives who advocated for the Iraq war to control that oil in ... More »

Jeremy Leggett, convenor of the UK Industry Taskforce on Peak Oil and Energy Security, said: “We are asleep at the wheel here: choosing to ignore a threat to the ... More »

See Full Review » (13 answers)
Silva N. F. Lestari
4.0
by Silva N. F. Lestari - Feb. 10, 2011
See Full Review » (18 answers)

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