The market would settle for transparency.
The market is going to settle for whatever the Saudis decide to give it. The market has no power to enforce transparency. You've got the power relationship backwards. The junky doesn't tell the dealer what to do; the dealer tells the junky what to do.
Failing transparency the world simply ends up being a more dangerous place.

I do believe there are those in power who would kill to find out exactly what the real scoop in Saudi Arabia is. The implications of a positive or negative answer are subtantial, affecting all of humanity.

At some point they will have to come clean in a transparent way or, I fear, they will do so at the point of someone's gun.

The idea that transparency is going to help us is utopian in my mind.  I'd love to know how you think transparency will lead to such a great outcome. Sometimes uncertainty can lead to better results.
Transparency tells you if you are royally #$&*#$ or not; transparency, if a crisis is looming a decade out and not tomorrow, gives us time to prepare and adapt.

Lack of transparency will be what kills us.

Transparency is the only thing that would allow us to cross the Hirsch Gap. Without it, you can't tell where you are in the gap, so due to the inertia of human nature governments and consumers figure it's just Business As Usual until the tap runs dry.  "Hirsch Gap?  Whazzat - a new clothing store?"

Needing transparency and getting it are two different kettles of biodiesel, though.

At some point they will have to come clean in a transparent way or, I fear, they will do so at the point of someone's gun.

This is the unspoken subtext, isn't it. "Transparency" is a veiled threat. "We" have a right to know how much oil is there because it's our oil.

This is why the Saudi's are right to resist calls for transparency. Inspectors are the vanguard troops of invasion and appropriation, just like they were in Iraq.

As far as I'm concerned, Saudi oil belongs to the Saudis, and "our" dependence on it is our problem, not theirs. Personally, if I were them, I would have a contigency plan for destroying the infrastructure and poisoning the fields, just in case.

I agree with JD 100% on this.  I'm starting to get ill with all this talk of transparency.  It's imperialism.  Nothing more, the US saying "We've burned up all our stuff, you tell us how much you have.  Because we're too pathetic to plan ahead and we're addicted to the stuff."

I said here--or somewhere--long ago that I think peak oil needs geological/economic models to demonstrate, for example, how difficult it will be to use tar sands and shale oil to meet our energy needs.  And a better understanding of future production is also useful.  But many at peakoil.com, have argued that we have the right to pull those numbers out of Saudi Arabia.

Sorry folks.  These are more arguments from whining little children who have eaten their cookies and now are demanding that the other kids declare how many cookies they have.

Transparency is not going to help us.  The world will slam into the limits and will have to adapt.  Hirsch gaps and whiners-for-transparency be damned.

indeed!

and all the whiners about "those who endanger our children", should wake up and realize WE are endangering our children, and have been for decades (if not longer), with endless consumption of globally created corporate "goods" along with our addiction to cheap oil.  not to mention the adoption of unsustainable economic systems, such as debt financing/banking and fiat currency.  we (govt., multinational corporations, the unquestioning public) all share the blame in this, and to finger the "untransparent" ones is merely scapegoating.  

Peak Oil seems to be a convienent excuse for imperialistic tendencies...subtle or not.