EFL to the max--this is a 3-pager.
[...]
For decades, that has largely been true. Ever since its rich reserves were discovered more than a half-century ago, Saudi Arabia has pumped the oil needed to keep pace with rising needs, becoming the mainstay of the global energy markets.
But the country’s oil fields now are in decline, prompting industry and government officials to raise serious questions about whether the kingdom will be able to satisfy the world’s thirst for oil in coming years.
Some you RBers know way more than I do about the Saudi oil situations but I think this is SA-funded PR, courtesy of the Gay Lady:
It’s my understanding that the Saudi reserves are still huge.
Even if they weren’t there are still plenty of other countries with reserves almost as big, one of which we’re occupying at the moment. (Wink!)
This is a "2-fer" for the Slimes: it stirs up pity(?) for the evil Sauds and manages to get in a few hits about Americans’ greed for oil and our "rape" of poor countries like SA who feed our rich, capitalist, oil-hungry lifestyles. (For shame, USA.)
What’s really in decline, methinks, is the Sauds’ grip on power and worse still, their oil revenues, which they must split an increasing number of ways amongst all the bazillions of members of the Saud family!
$100,000, 000 billion will only buy so many cousins of Crown Princes houses on the French Riviera with hot and cold running French hookers! |