Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy (Amazon)
Good book and extremely relevant in the shadow of $60 oil. Mr. Simmons is casting doubt over Saudi (Aramco) ability to increase production to levels it claim.
Mr. Simmons's critics say that, by relying on technical papers, he has biased his survey, since geologists like to concentrate on problem wells the way that doctors focus on sick patients. Still, the experience in America and the rest of the world shows that oil fields don't last forever.
Nevertheless, someone has started asking questions in regard of non-transparent Saudi reserves. And that is an achievement by itself. The markets, which usually price-in future events seems to have already started discounting Saudi’s role of being the World’s Oil Central Banker.
Mr. Simmons's critics say that, by relying on technical papers, he has biased his survey, since geologists like to concentrate on problem wells the way that doctors focus on sick patients. Still, the experience in America and the rest of the world shows that oil fields don't last forever.
Nevertheless, someone has started asking questions in regard of non-transparent Saudi reserves. And that is an achievement by itself. The markets, which usually price-in future events seems to have already started discounting Saudi’s role of being the World’s Oil Central Banker.
posted by Double M at 8:43 PM
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