Book Description
The most critical question facing the world energy market is whether Saudi Arabia can substantially increase its oil production to meet rising world demand in the years ahead.  Sparked by personal observations of Saudi oil wells which led him to suspect that some Saudi fields were in decline, Matt Simmons has created a compelling case that Saudi Arabia production will soon reach an apex, after which its production will decline and the world will be confronted with an immense and potentially catastrophic oil shortage.  The factual basis of the book is over 200 technical papers published over the last 20 years which individually detail problems with particular wells or particular fields, but which collectively demonstrate that the entire Saudi oil system is “old and fraying.”  Based on his analysis, Mr. Simmons asserts that sudden and sharp oil production declines could happen at any time.  Even under the most optimistic scenario, Saudi Arabia may be able to maintain current rates of production for several years, but will not be able to increase production enough to meet the expected increase in world demand.  Eventually, the reckoning day will come and the world economy will be confronted with a major shock that will stunt economic growth, increase inflation, and potentially destabilize the Middle East.

 The book is written in a concise and engaging style, providing background on Saudi Arabia, the oil industry, world oil market, and the management of the Saudi oil resources.  Mr. Simmons addresses technical issues about oil production in a clear, interesting style, providing documentation but not losing the reader in details   The book is written with a strong focus and passion, and the overall sense is of a behind-the-scenes expose, akin to a 60 minutes investigative piece.

FROM THE PUBLISHER

The most critical question facing the world energy market is whether Saudi Arabia can substantially increase its oil production to meet rising world demand in the years ahead. Sparked by personal observations of Saudi oil wells which led him to suspect that some Saudi fields were in decline, Matt Simmons has created a compelling case that Saudi Arabia production will soon reach an apex, after which its production will decline and the world will be confronted with an immense and potentially catastrophic oil shortage. The factual basis of the book is over 200 technical papers published over the last 20 years which individually detail problems with particular wells or particular fields, but which collectively demonstrate that the entire Saudi oil system is "old and fraying." Based on his analysis, Mr. Simmons asserts that sudden and sharp oil production declines could happen at any time. Even under the most optimistic scenario, Saudi Arabia may be able to maintain current rates of production for several years, but will not be able to increase production enough to meet the expected increase in world demand. Eventually, the reckoning day will come and the world economy will be confronted with a major shock that will stunt economic growth, increase inflation, and potentially destabilize the Middle East.