The Greatest Lie the Devil Ever Told

Speaking at an OPEC conference last week, Abullah Jum’ah, CEO of Saudi Aramco, directly challenged the peak oil model claiming there is no cause for concern despite hard evidence provided by petroleum geologists that shows the world quickly running out of cheap, easily accessible oil.

Mr. Jum’ah said at the meeting, “The world has only consumed about 18 percent of its conventional potential reserves,” contending that we can lay to rest any concerns that the world is in danger of being tapped out.

But the fact is, Jum’ah is only telling a small part of the story. And when all the facts are considered, his optimism seems unfounded.
The End of Cheap Oil