I think it would be more accurate to say that SA is running out of cheap oil – that is, oil that is cheap to produce.
How much oil one has depends, in large part, on the price of oil itself. So I don’t think SA will “run out” of oil, but you can surely expect prices to go up since they will be forced to turn to extraction techniques and fields that cost more to exploit – provided SA makes the necessary infrastructure investments.
As an example, if oil rose to a steady price of over $100 a barrel, then oil trapped in shale here in the US starts to become price-competitive and the US could increase it’s production were that to happen.
So the Saudis are are Jewish? But you spelled “oy” wrong.
I think it would be more accurate to say that SA is running out of cheap oil – that is, oil that is cheap to produce.
How much oil one has depends, in large part, on the price of oil itself. So I don’t think SA will “run out” of oil, but you can surely expect prices to go up since they will be forced to turn to extraction techniques and fields that cost more to exploit – provided SA makes the necessary infrastructure investments.
As an example, if oil rose to a steady price of over $100 a barrel, then oil trapped in shale here in the US starts to become price-competitive and the US could increase it’s production were that to happen.