Is Saudi Arabia running out of oil. It may have overstated its oil reserves?
When Arabs took over the oil fields (via Aramco) they restated their oil reserves increased by about 100 billion barrels.
The reserves can be over in as little as 9 years. It is good that the world has been looking for renewable energy. And would not be hurt much if Saudi run out of oil.
If you do your math, Saudi which produces 10 million barrels of oil a day.... And you can guess if they are telling the truth about their reserves. Why cant they increase their production beyond 10 million
Take note that bulk of their budget and expoerts come from oil. It is noteworthy though that KSA makes invstment in tourism and other businesses.
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