Quote of day--from Quora --how long will Saudi oil last.

Granville Phillips Granville Phillips, 12 years in Saudi Arabia Answered Nov 28, 2016 · Upvoted by Steven Merz, PhD Candidate Chemical Engineering · Author has 875 answers and 806.5k answer views This is not transparent as Saudi Arabia keeps these details as basically a State secret. Stated reserves in 2015 were 206bn barrels. So on the basis of 2015 consumption, about 70 years. The trouble is no one really knows. The stated reserves are the same as 10 years ago - so either new reserves have been found (and no major discovery was announced) or oil sources have become more economically viable with new technology. The reality is that after 50 years if there has been no economic diversification by Saudi, they are in trouble. I they manage to diversify economically then this will be less of a leading question. 3.9k Views · View Upvoters · Answer requested by David K. Lee Related Questions More Answers Below What will Saudi Arabia produce after it runs out of oil? How was life in Saudi Arabia before oil was found? What if Saudi Arabia runs out of oil? Can Saudi Arabia survive as a nation in long run after they finish their oil reserve? Who produces oil in Saudi Arabia? Ask New Question Aidan Keener Aidan Keener, studies at Hillsdale High School (2020) Answered Jul 17, 2018 As the Green Revolution continues to spread around the world over the next decades, producing oil will become less and less profitable. Around 2050, oil production will no longer be profitable for most nations, and by 2100 the reserves will be depleted in the Middle East. But Saudi Arabia has a plan for this. There seems to be some sort of pervading myth that the oil-based economies of today don’t realize oil can’t last forever. Therefore, once the oil market collapses all these nations will die along with it. Obviously, this is untrue. Every one of these nations, from Angola to Saudi Arabia, is already making strides to diversify. The Vision 2030 program, led by the so-called “liberal” Prince Mohammad bin Salman (which really just means he’s a few steps to the left of the Ayatollahs), will boost sectors such as tourism and consumer goods. Hopefully, this will lead to Saudi Arabia moving their societal norms from the 15th century to the 19th. In conclusion, the end of oil in Saudi Arabia, and in all oil-based economies, will just be a minor hiccup as their economies diversify, mostly in the name of preserving power but with a side effect of liberalization. 792 Views · View Upvoters promoted by Casey Research Man who predicted 2008 meltdown surprises with a new prediction. NY Times best-selling author made millions betting against the mainstream in the 1970s. Now he’s back. Learn More at unrestrictedinvesting.com Paul Freund Paul Freund, former Worker in Energy Industries Including an Oil Major Answered Oct 1, 2016 Let me put something forward to get the discussion going. The Saudi’s resources will last forever because the world’s need for oil will have diminished to a very low level before their resources are depleted. That’s because they have more resources, especially the attractive light oils, than almost anywhere else! 1.2k Views · View Upvoters Your feedback is private. Is this answer still relevant and up to date? Abdul Abdul, A Saudi with various interests. Hold an MBA and a B.A. in International Studies. Answered Oct 15, 2016 · Author has 80 answers and 54k answer views Oil never ends. It accumulates over hundreds of years and it is an ongoing process. Oil extraction cost might get higher. Anyway, if oil does vanish Saudi Arabia will still be able to produce oil for 90 additional years because the huge reserve it has. 1k Views · View Upvoters Mark Latham Mark Latham, Managing Partner at Commodity Intelligence. (2008-present) Answered Aug 20, 2018 The official answer, according to ARAMCO is 69 years. 169 Views Related Questions Will Saudi's go into exodus when the oil runs out? Why is there so much oil in Saudi Arabia? What's going to happen when all the oil runs out? Saudi Arabia: Are all Saudis rich? What are US-Saudi Arabia relations going to be like when Saudi Arabia runs out of oil or it is too expensive to use oil? Is Saudi Arabia running out of friends? When will Saudi Arabia run out of money based on current oil prices? Where did the oil in Saudi Arabia come from? Why is Saudi Arabia lowering the price of crude oil? Why did Saudi Arabia fire its former oil minister? What if India had as much oil as Saudi Arabia? Will oil run out? Is Saudi Arabia a safe country? What is the capital city of Saudi Arabia? What if Saudi Arabia never had any oil? Ask New Question Still have a question? Ask your own!