What Do You Know About Oil?
March 7th, 2006
Saudi Arabia has more than 25% of the oil proved reserves of 2005 estimation. Will the oil last forever?
If we will keep our current oil production rate, which is certainly going to be increasing, we will have oil for the next 76 years. Only.
What if the production increases? Which is very likely to be happened. Well … at least we will have oil for the next 50 years; I hope so.
The future will not be difficult, if we remained silent, only for our grandsons but also for us; we are very young and we may see that day when the last drop of oil being sold!
Canada is the second on the list after Saudi Arabia on oil proved reserves ranking. Canada has almost 70% of oil as Saudi Arabia, but they only produce as 30% as Saudi Arabia does.
President Bush said that America addicted to oil, actually Saudi Arabia is more addicted!
We as Saudis have to find an exit of this huge problem of relying on oil, otherwise, everybody should prepare his/her tent again and start learning about how to survive in the desert!
What can we do? We should employee the advantages of today to build our future economy. Building our industrial infrastructure and focusing education on technology and manufacturing. We need more and more engineering colleges, Technical Institutions, and we need to spread the culture of producing rather than consuming.