IS HE SURE IT'S NOT 17 PERCENT? OR MAYBE 19?
Now there are others in the world who know far more than I do about the science behind Peak Oil theory, as devised by Marion King Hubbert in 1956: Matthew Simmons seems especially credible to me. Also Jim Kunstler & Mike Ruppert, though both allow their personal politics to flavor their analyses in my opinion. Agree or disagree with these fellows, they know more about the issue than I do.
At any rate, color me skeptical when I hear the head of Aramco just come up with a random number, explaining the amount of oil left in the ground. One of Simmons's most compelling points is that those seeking to debunk Peak Oil often say, "It's not true," and then spout forth with numbers, seemingly coming out of nowhere. Or from the same place as the untapped crude.
Finally, if this dude is so certain that the oil's in the ground, why is he begging "explorationists" to find it? I mean, if he knows it's there, why haven't they started drilling for it? Afterall, his product is crude oil. When was the last time you heard a car maker beg the world's "engineers" to keep making autos?