Posted on Wednesday, February 9th, 2011
Much excitement today about the Wikileaks revelation that Sadad al-Husseini, former head of exploration and production at Saudi Aramco, told the US consul general in Ryadh in 2007 that Saudi Arabia’s reserves have been overstated by 300 billion barrels, or some 40%. Sadad has been saying publicly the world’s reserves are falsely inflated by that figure for several years now – as first reported by lastoilshock.com. It just wasn’t clear those 300bn missing barrels were all in Saudi. Or, more precisely, not in Saudi.