Oil supplies dangerously "over-estimated"

just found this article www.channel4.com...

it states that the retired ex-president of a saudi oil company claims that the American government have dangerously over-estimated the supply of oil that we have.

The saudi Al-Husseini has recently retired from "Aramco oil" and his claims worry people that the oil fields are being hit too hard!

I never know what to believe as far as the oil situation is concerened - is there loads of the mucky stuff or is it swiftly dwindling away?

so many stories and reports seem to conflict with each other

I look at it this way.... Today I payed $2.14 for a gallon of low grade unleaded. 4 or 5 years ago I remember paying $.86 a gallon for 93 octane. Low grade at that time was in the low $.70's here. We are talking a 300% increase in price in 5 years. Now you don't get that kind of increase in price without a serious supply problem. Demand alone won't do that. Milk has gone here from $2.29 a gallon to $3.59. The price or ground beef which I used to be able to find for $1.69 a lb (yeah.. its cheap crap) now runs in the area of $2.49 a lb. This in great part is because of rapidly rising fuel costs. And I see no reason why the problem won't get worse. There is a massive supply problem. Why else would the US Government be working so hard to stockpile our strategic reserves and add more to the price problems? There is a serious problem and they know it.

just another bloody worry for us all then! like the avatar by the way!