Saudi Arabian Heavy Oil – The Solution to the World’s Future Oil Supplies
Turn a calender page and somebody is going to have another solution to the world’s energy needs. Solar power is in favor one day while hydro power is the best bet the next. Each of these possibilities is nice, but the question of how practical they are when the rubber hits the road (so-to-speak) remains. Currently, Saudi Arabia has 40 billion barrels of higher grade oil reserves from it offshore Moneefa field waiting for market, even before quality/supply issues begin to crop up. Brazil may be sitting on another 12 billion barrels somewhere down the road. Russia continues to pump…