In a statement published on the Kuwait Oil Ministry's Web site, Sheikh Ali said he had "undertaken to clarify the truth and volume of Kuwaiti oil reserves" for lawmakers and ministers over the next few days. Kuwait publicly boasts 100 billion barrels of oil reserves but a report some months ago by Petroleum Intelligence Weekly said internal Kuwaiti records suggested the volume was only 48 billion barrels.
http://www.easybourse.com/Website/dynamic/News.php?NewsID=25440&lang=fra&NewsRubrique=2

In a news release on July 18th, Kuwait's Oil Minister promised to clarify Kuwait's oil reserves within days. Well, days have turned into weeks, and now it has been one full month since that statement was released. What has caused this delay? I really do not know but I suspect it is because the news is not good and the release of that data might have serious consequences.

After all, if Kuwait really had 100 billion barrels of reserves, there would be no delay, only jubilation in the announcement. In several earlier releases, the newly elected opposition party, announced that, in order to preserve the oil for future generations, oil production should be limited to 1% of reserves.  Well, current yearly production from Kuwait is, today, just under 1% of 100 billion barrels at .922 billion barrels per year. But if it were determined that Kuwait has only 50 billion barrels, then to stay at 1% per year of reserves, production would have to be cut by about 1.16 million barrels per day, almost in half. That would be devastating, if not to Kuwait's economy, it would be to the political future of the opposition party. It would mean that all the free dole and other goodies, handed out to the public, would be cut at least in half. Say goodbye to any politician that tried that trick.

But the controversy still rages. The latest news, just out today, can be found here:
http://www.kuwaittimes.net/localnews.asp?dismode=article&artid=125678638