When the Well Finally Runs Dry

Saudi Arabia says it has enough oil to keep the world happy for at least another 70 years.

But the closely guarded Saudi Aramco numbers that would back up that claim aren’t available to outsiders. That worries Houston investment banker Matthew Simmons.

Simply put, Simmons doesn’t think energy-intensive countries like the United States should take Saudi Arabia at its word. He contends that the country’s official oil reserve count could be overstated and the kingdom’s oil production could decline, throwing the world’s supply-and-demand balance off-kilter and jacking up prices for years to come.
The Houston Chronicle