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Fudging The Numbers With Oily Fingers?
February 9, 2011
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Remember that whole "peak oil" thing? The theory that the world is about to hit a maximum point in oil production (or has already hit it). The thinking goes that after we cross that line, it'll mean the end of cheap oil. Oil production will stop growing and actually decline, until there's basically nothing left. Well, some recently released documents by Wikileaks will probably add more fuel to the fire.

Apparently, Saudi Arabia may have been over-inflating the amount of its oil reserves for a few years now, by as much as 40%. That's about 300 billion barrels - enough to keep the U.S. humming for about 40 years. If this is true, a betting man might look at the global oil market, gently stroke his goatee and say "Advantage: Alberta!" He might also add, "Sorry, environment. Sucks to be you."

By the way, this could also bring us that much closer to the dark, inevitable future as foretold by George Miller in his 1981 documentary, 'The Road Warrior.'

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