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Article: NEW LOOK: SAUDI OIL HAS LIMIT.(Editorial)
- Article from:
- The Cincinnati Post (Cincinnati, OH)
- Article date:
- November 18, 2003
CopyrightCOPYRIGHT 2003 The Cincinnati Post. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: David Ignatius
LONDON -- Even when the bombs are going off in Saudi Arabia, people take it for granted that the kingdom has a bottomless reservoir of cheap oil. But that perception of low-cost abundance may change, if a U.S. investment banker's revisionist critique of Saudi oil reserves proves accurate.
"The prevailing view has been that the Saudi oil fields are great big caverns of oil, and that recovery is so easy they will basically last forever," says Matthew Simmons, the chief executive of a Houston-based investment banking firm called Simmons & Co. International.
Simmons believes this traditional image of Saudi Arabia as a ...