With the American economy in trouble and the price of fuel climbing ever higher, American politicians are increasingly eager to blame OPEC for their problems but the truth is OPEC is already producing as much as it can. Any spare capacity is more theoretical than actual: "Saudi is thought to account for 80pc of this "paper" spare capacity. Oil data has been treated as a state secret by Riyadh since Saudi Aramco was nationalised in 1988, making accurate assessment of reserves very difficult."
Full Headline: Peak oil debate will rage as long as doubts remain over Opec’s reserves
