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Energy Literacy Advocates (ELA) is a non-partisan, non-profit, public education and advocacy group dedicated to improving the energy literacy of all sectors of our democracy in order to empower a comprehensive national energy policy that is responsible and sustainable. Stay tuned for updated energy news!

Monday, April 21, 2008

"Practical Peak Oil" Policy Highlighted in Saudi Arabia

In remarks that flew under the radar screen of American media, Saudi Arabia's King Abdullah revealed orders to preserve new oil discoveries untapped, in order to extend the reign of oil wealth in his country. "When there were some new finds, I told them, 'no, leave it in the ground, with grace from god, our children need it'," King Abdullah said.

King Abdullah's position mimics that of Saudi oil minister Ali al-Naimi who, when asked "How high can your production go?" replied, "We’ll get to 12.5 million barrels a day and then we’ll see." Current Saudi production capacity stands at roughly 11.3 million bpd.

To read more on this subject, including the responses of American energy analysts, click here.

Labels: energy policy, oil supply, peak oil