Saudi Oil Ramp-Up Hopes Clouded by Lack of Data

Saudi Arabia’s ambitious intentions to increase its spare crude oil production capacity should be taken with more than a grain of salt, according to Houston-based energy investment banker Matt Simmons.

“If the world’s future economic success depends on all those projects, we’re betting the ranch on bad data,” Simmons said in an interview Tuesday on the sidelines of a presentation at the Houston World Affairs Council.
Schlumberger