The Saudi's Are Full Of Shit Part 1 Of Many

All Saudi oil is owned and controlled by the state company Saudi Aramco. They control all production, exploration, transport, everything. Any and all information on the state of their oil is known only to them. This wasn't always the case. Back in the thirties it was American companies who first started drilling and found oil. And for the next forty years American companies were pumping like mad. This went on until the end of the seventies when the Sauds booted them out in favour of a state company. When they left they took all of their knowledge and disclosed the state of the country to the US Senate. In 1979 they declared that the Sauds had about 110 billion barrels remaining of recoverable oil. This continues until the eighties when the Sauds declared that they now had 170 billion barrels left. Then a few years later 260 billion barrels. And today they estimate 220 billion barrels.
Where did this oil come from? No major fields have been found since the seventies. They have pumped 90 odd billion barrels since 1979 too. Yes we have improved recovery techniques and proven reserves creep up for all fields, but doubling your reserves? While still pumping? I'm sorry Saudi Arabia. I call bullshit.
The only question is how much do they really have left? With Aramco in total control, we may never know. Or at least won't know until their output sharply declines.