A call for independent oil reserve measuring 12, March 2009Posted by thegulfblog.com in Oil.
Tags: Oil levels, oil reserves, Saudi Arabia
Giacomo Luciani writes an interesting piece outlining the practices of states when it comes to publishing the levels of their oil reserves. He outlines the Saudi case whereby they simply predict their reserves based on what they found the previous year. He concludes by calling for an independent body to be the ultimate arbiter of the published levels of reserves to avoid the politics which inevitably becomes involved in such predictions. He fails to comment, however, that such an arrangement will most certainly never come into force.