The Great Oil Reserve Swindle

The End of Cheap Oil – Back in 1989, Saudi Arabia claimed to be sitting on a total of 170 billion barrels of oil reserves.

Only a year later — and without the discovery of any new major oil fields — the official reserve estimate unbelievably grew 51.2% to 257 billion barrels.

One has to wonder exactly how any country increases their oil reserves by 87 billion barrels without finding any major fields.