Saudi oil supply

06/28/2004
With regard to the Saudi ultimate oil supply role, the Saudi Minister of Petroleum & Mineral Resources, Mr. Al-Naimi, made the following statement in an interview (OGJ, Apr. 5, 2004, p. 18): "My firm belief is that the last barrel of oil produced is going to be from Saudi Arabia. And that's not based on wishful thinking; that's based on my relationship with the Saudi oil industry."I do not want to discuss the above claim, but only to ask the honourable Minister: whose technologies will be applied to produce that last Saudi oil barrel? Whose money will be spent to develop these technologies, and why the outside world should believe in his claim?Saudi Arabia has produced oil since t...
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