Simmons hopes he’s wrong
Leading energy analyst believes Saudi Arabia’s crude oil supply near peak; calls for greater global reserve transparency to anticipate ‘cataclysm’
F. Jay Schempf
Petroleum News Contributing Writer (Houston)
Matt Simmons hopes he is wrong.
But if he’s right in his belief that Saudi Arabia’s giant oil fields might already have peaked and could start into rapid decline in as few as three years, somebody better have a “Plan B” ready or there’s no way, he says — absolutely no way — to avoid a world energy c....
[additional news subjects in this story]
A few fields produce almost all Saudi oil
There’s no Act 2
No new giant oil fields in Saudi Arabia
New technology won’t do it
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