Wikileaks: Saudi Arabia Cannot Pump Enough Oil to keep a Lid on Prices

I received this piece from The Guardian via Dr Mayraj Fahim which suggests a most alarming prospect - that Saudi Arabia's oil reserves might have been mis-stated by as much as 40% and that there is far less oil available in that country than was earlier presumed. In every sense, this news suggests that it is important for the world to look for alternative sources of energy as oil is going to run out at some point in time. This blog is not in the business of trying to forecast when the oil will run out - that is the job of experts, and, whenever one of them speaks about it, those views will be reported here. But, with China and India buying enormous quantities of oil and increasing their purchases as their economies grow, consumption in the future is certain to grow significantly over the past.

The shortage of oil in Saudi Arabia (and who knows what the situation is with other countries?) is worrying but some solid work has begun to wean the world off oil - the numerous electric cars, electric motorcycles and electric airplanes that are now being worked upon are an example of work that could minimize the shock from oil running out when that happens. The time to work hard to develop alternative sources of energy is NOW. Any delay and this would only cause monstrous problems when the oil does run out.