Friday, February 11, 2011

And The World Shrugged

Maybe because of the Egypt news, but this revelation had no impact on world crude prices.

See TheGuardian: WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices
Husseini said that at that point Aramco would not be able to stop the rise of global oil prices because the Saudi energy industry had overstated its recoverable reserves to spur foreign investment.

[via TheOilDrum]

La, la, la... nothing to see here.