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Wikileaks Cables: Saudi Arabia overstated oil reserves by nearly 40%

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posted on Feb, 9 2011 @ 04:10 PM
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The US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.


Source-US Embassy Cables

Can someone say 3rd World War?

Either this will drive the human race into another World War or drive us to move away from being dependent on fossil fuels. Hopefully it's the latter.

Countries are still very dependent on fossil fuels and the process of moving towards a more environmentally friendly society is slow. Maybe this is much needed to speed things up a bit.




posted on Feb, 9 2011 @ 04:11 PM
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Its a good thing we invented an electric car 40 years ago.

Otherwise this might pose a problem.

Hmm...When will the change begin?



posted on Feb, 9 2011 @ 04:13 PM
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Or, dare I say, we could all come together to try to solve this crisis instead of fighting and killing eachother over 100 years old technology. If we spent all of the resources we used in WWII on the world's population, it would have met the needs of everyone in the world during that period.


Dare I say we could actually create something better.............
edit on 9-2-2011 by v1rtu0s0 because: (no reason given)



posted on Feb, 9 2011 @ 04:14 PM
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Ooooohhhh! WOW! There's a news flash...

Arabs lying about something!

I'll alert the media.




posted on Feb, 9 2011 @ 04:18 PM
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Check out al-jazeera english news, live - they have raised this news to discussion, impacts of this reveal can be huge in coming times!



posted on Feb, 9 2011 @ 04:36 PM
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reply to post by JanusFIN
 


Thanks for the heads up. Will be watching



posted on Feb, 9 2011 @ 04:41 PM
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Originally posted by v1rtu0s0
Or, dare I say, we could all come together to try to solve this crisis instead of fighting and killing each other over 100 years old technology. If we spent all of the resources we used in WWII on the world's population, it would have met the needs of everyone in the world during that period.


Dare I say we could actually create something better.............
edit on 9-2-2011 by v1rtu0s0 because: (no reason given)



How much profit can we expect off of this? You know the important things come first.


la2

posted on Feb, 9 2011 @ 04:47 PM
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Ok, I think we are missing the point.

We may have electric cars, but 90% of the population dont have them, we don't have electric lorries to transport food to the shops.

Also oil is used in the production of plastic, fertilizers, a whole host of things we cant use an oil replacement for, so when we find the price going up, and Arab countries running low, then it is as said, cause for war, china is eating oil at an incredible rate, anad i cant see it letting its oil supply going elsewhere.



posted on Feb, 9 2011 @ 04:52 PM
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Actually pound for pound and dollar for dollar putting gas or diesel into motor vehicles is the it's best use. Using oil to heat homes is a waste and highly polluting



posted on Feb, 9 2011 @ 04:53 PM
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God damn it, Peak Oil anyone?



posted on Feb, 9 2011 @ 04:55 PM
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reply to post by la2
 


hi yall just read the link bout thr report given at the top and i clicked on the wikkileak it give ya in the report and it says might run oput by 2012 ,is it me but does everything to do with the world news wise always ends up with it will be done or it will be ok after 2012 ? hhhhhmmmmm



posted on Feb, 9 2011 @ 05:31 PM
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2012?that soon?
Holy shtf!
We always knew the saudis were lying aabout reserves.
We were discussing it ten yrs ago when their production levelled off.
There are ways of revitalizing old fields but after that(and they have been at it a while now....)what?
BP has a new bacteria they tailor made in a subsidiary company they bought out, it is supposed to induce the old wells to flow again by prosucing gass and dliming the pipes for lubrication as well as thinning the crude.
New oilfielss are comming on line still.the Gulf has lots more oil, as has Canada.
No worries mate well sell ya all you can pay for.....with gold.....



posted on Feb, 9 2011 @ 06:43 PM
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Well I was watching SkyNews this evening and they had an interview with some guy who said it will most probably be by 2015. Either way 2012 or 2015 is just round the corner.



posted on Feb, 10 2011 @ 12:29 AM
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Hmmmmm, so the Saudis are almost out of oil and have been lying to the public about the amount left while secretly letting the governments of the west know.

Where is the largest oil deposit in the middle east?

Isn't it Iraq?

Now Why did the usa invade again?

edit on 10-2-2011 by drock905 because: (no reason given)



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