WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices
WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices | The Guardian.
“The US fears that Saudi Arabia, the world’s largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in Riyadh show.”
If you ever wonder why tar sands developments in northern Alberta are moving full speed ahead despite the pollution, carbon emissions, health impacts and all the bad publicity, check out this article from The Guardian about Saudi Arabia’s diminishing oil supplies.
The Alberta government and its federal conservative brethren in Ottawa under Stephen Harper know perfectly well that, as traditional oil supplies diminish, the demand for unconventional oil such as the tar sands will only skyrocket in the coming years. There is an absolute fortune to be made from dirty tar sands crude and the U.S. needs it more than ever. If our current political and corporate leaders have their way, nothing and no one will get in the way of the ongoing, rapacious expansion of the tar sands.