Matt Simmons argues that "there is no other oil producer on Earth that can even begin to replace a significant shortfall in Saudi Arabia's oil. So if Saudi Arabia is at peak production then so is the World." His presentation is in the second half which can be accessed directly here:
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Hudson Institute presents: Saudi Arabia in Crisis
Saudi Arabia is in internal crisis: Wahhabist extremists have now begun to attack the regime that once funded them. In fact, over the past few months, terrorist attacks have occurred more frequently in Saudi Arabia than in Israel. Some analysts argue that the regime is now in the early stages of a civil war.
Can the Saudi state survive this unrest? Is reform possible? If not, what is the life expectancy of the Saudi regime? Moreover, how will the crisis in Saudi Arabia affect American and international oil markets? Is the U.S. prepared to meet this challenge?
To answer these questions, Hudson Institute's Center for Middle East Policy will hold a conference on Thursday, July 9. Two panel discussions will explore "How Stable Is the House of Saud?" and "An Impending Energy Crisis?" Matthew R. Simmons, chairman and CEO of Simmons & Company International, will deliver the keynote address on "The Implications of Saudi Arabian Oil Declining."
Special guests and panle participants include:
Meyrav Wurmser, Hudson Institute
Simon Henderson, The Washington Institute for Near Eastern Policy
Ali Alyami, Saudi Institute
Nina Shea, Freedom House
Hillel Fradkin, Hudson Institute
Robert Heiler, Global Water and Energy Strategy Team
Paul Michael Wihbey, Global Water and Energy Strategy Team
Anne Korin, Institute for the Analysis of Global Security
Harold Waller, McGill University