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I think in Saudi Arabia, at one time, water was more expensive than oil. They have one export product, one chance to finance their economy for the rest of their existence. Their only hope is to use that asset very carefully. Maybe solar energy could be their future.
As far as oil and proven reserves versus potential, as yet undiscovered reserves, my thinking is there is probably much more potential supply, however I would like to see more competition for petroleum based energy economies. I think the transition will take a significant amount of time, probably beyond my lifetime.
regards
mech
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