Aramco Shamco on 60 Minutes

[IDemo]

Anyone see the piece by Lesley Stahl on 60 Minutes? It seemed to have been done to both alleviate American worries that the spigots won't be wide open indefinitely, and to get an admission by Saudi oil minister Ali Al-Naimi that the Saudis are actively trying to discourage a move toward alternatives.

The dishonesty about Saudi oil reserves hardly did anything to lessen the concerns in either area. The 260 billion + barrel reserve figure was quoted, as it has been for many years, along with the stated intention to add another 200 billion in the coming years. While the projects under construction at Kurais and Shaybah would indicate they are making attempts to increase production levels, there is no way that SA (Saudi Aramco, the nationalised oil company) will be sending enough Texas Tea (or Ghawar Goo?) our way to continue America's present level of consumption for decades to come, as they claim.

A supposedly high efficiency internal combustion engine was pictured that would supposedly make the crude last longer, and oh, by the way, eliminate the motivation to pursue electric vehicles or other alternatives.

[Submariner]

1. The not so hidden message I took from it was Saudi Arabia will price the oil

at the appropriate level to stifle significant electric car or hydrogen fuel cell growth. Greed rules.