Simmons, chairperson and chief executive of the energy-oriented Simmons & Company International investment bank in Houston, is a member of the National Petroleum Council and the Council on Foreign Relations. He writes, based on considerable research, that “Saudi Arabian oil production is at or very near its peak sustainable volume (if it did not, in fact peak almost 25 years ago), and is likely to go into decline in the very foreseeable future [emphasis in the original]. There is only a small probability that Saudi Arabia will ever deliver the quantities of petroleum that are assigned to it in all the major forecasts of world oil production and consumption.”
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