Saudi has the power to drive the price of oil up (by limiting production) but it no longer has the capacity to drive prices down (by increasing production) -- according to experts.
The article provides several reasons why Saudi's output will not be able to keep up with demand, and will eventually begin to decline.
February 21, 2011: SeekingAlpha; same concern as others -- Saudi overstating reserves.
February 9, 2011: The spokesman now says he was misquoted, February 9, 2011. Comment: sounds like someone who spoke his mind when he didn't think his comments were being recorded; now that he has been exposed by Wikileaks, he is backing off. The truth is probably somewhere in the middle.
He may be backtracking but "it is what it is."
