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Much like a poker player that lets you look at his/her cards and you realize that they have nothing. It seems the Saudi's have done just that.  The Financial Times has a page one article claiming this.  Here is the money quote:

But private warnings also point to a worsening long-term outllook, with Saudi
officials saying that the Organisation of the Petroleum Exporting Countries will
be unable to meet projected western demand in 10 to 15 years.

 

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