Saudi Aramco on 60 Minutes
There are a lot of little things to pick apart, from misconceptions about what peak oil means to the oxymoron of Saudi Arabia developing a more fuel-efficient engine so that the world will consume more (or is it less?) oil. I will let readers do most of the deconstruction, but I found one short clip of the video somewhat intriguing. In the discussion about Shaybah (about 4:30 into the first half), an animation of horizontal drilling is shown.
The geology shown is not that of Shaybah, but rather of Zuluf, an offshore field with it's own set of problems. It is not easy to read, but the text indicates that either 60% or 80% of the remaining reserves reside in the Khafji sand stringers. This says more about the future of Saudi Arabian oil than all the steel in Khurais. While it is impressive that this oil can be retrieved using improved technology, this statement from Saudi Aramco CEO Abdallah Jum’ah has more stretch than one of his limos:
Jum'ah says that with this technology, they're able to recover ten times more oil than before.