Category: Saudi Arabia

Wikileak: Saudi Reserves Overstated, Peak Oil on Horizon


It’s getting more and more difficult to deny that an oil supply crunch is just a few years down the road,

especially now that WikiLeaks has released cables revealing that Saudi Arabia’s oil reserves may have been exaggerated by as much as 40%, or 300 billion barrels.

Saudi Arabia is the world’s largest oil exporter.

Peak oil, or the point when the maximum rate of global petroleum extraction has been reached, and is about to enter terminal decline,

is no longer the fringe theory it was just 10 years ago.

Saudi Arabia Economic Forecast


Saudi Arabia has long been known for its strong economy based on oil and gas. In addition, this country’s economy has skirted many of the problems other countries have faced primarily because of the government maintaining strong control. With Saudi Arabia possessing over 20% of the validated oil and gas national reserves in the world, it ranks as the largest exporter and is a leader for the Oil and Petroleum Exporting Countries, or OPEC.