OPEC is planning to cut back on oil production, meaning the price of gas will continue to rise. One reason behind this move is that Saudi Arabia is in the same situation as Texas: they're having trouble extracting the remaining oil from the ground. Oil expert Matthew Simmons says, "The easy oil era is over.
"The small number of great but old oil fields in Saudi Arabia that created 'the miracle' are now facing challenges...The entire world assumes Saudi Arabia can carry everyone's energy needs on its back, but if this turns out not to work, there is no Plan B. And if conventional wisdom is wrong, the world faces a giant energy crisis." Subscribers: Learn the truth about the upcoming oil crisis when Whitley interviews Matt Savinar on this week?s Dreamland!
NOTE: This news story, previously published on our old site, will have any links removed.