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Old 09-05-2004, 04:04 PM
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Default Saudi Arabia’s crude oil supply near peak?

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Leading energy analyst believes Saudi Arabia’s crude oil supply near peak; calls for greater global reserve transparency to anticipate ‘cataclysm’
http://www.petroleumnews.com/pnads/238338932.shtml
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Old 09-05-2004, 06:26 PM
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I also saw that Mexico discovered large amounts of new reserves. let's hope they can figure out how to use it to benefit the country as a whole. I saw an article talking about mexico's approach to solving their poverty is emigration. encouraging people to leave and send back money and fighting for their right to emigrate. it's point was that emigration is really undermining mexico's chance of fixing their age old problems. anyways, that's good news since they are a bit more friendly than SA.
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Old 09-05-2004, 08:02 PM
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Just so they don't base their long term economic prospects on oil. Becoming over-dependent on something like oil is a big no-no, as several other countries have already proven over the years.
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Old 09-05-2004, 09:04 PM
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Quote:
Originally Posted by Dave
Just so they don't base their long term economic prospects on oil. Becoming over-dependent on something like oil is a big no-no, as several other countries have already proven over the years.
yes, I belive that is true. countries that are dependent on one resource tend to have less developed economies and larger incomr differences than those who have nary a resource or no single dominant one. basically, for most of those countries, either a few people are in control of that resource and waste it or a bunch of people are fighting for control over it.
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