OIL INDUSTRY: Warnings over Western reliance on Saudi supplies

Halligan looking at document with Simmons Halligan chatting to Simmons (4 SHOTS) Matthew Simmons (Chairman, Simmons & Co International) interviewed SOT - I wouldn't put it at 1 percent - you can never take a forecast, probability of living on moon is higher odds than Saudi Arabia producing 22 million barrels a day Tray of cups carried along past conference delegates in foyer TRACK Oil and Money Conference delegates chatting 'Oil and Money' on folder Delegate chatting to colleague (not heard) Fatih Birol (International Energy Agency) interviewed SOT - We are not worried about Saudi supply in long term - but worried whether Saudi is going to put those reserves in market Halligan chatting to Sadad Al-Husseini (Former Head of Exploratrion, Aramco) (3 SHOTS) Sadad Al-Husseini (Former Head of Exploratrion, Aramco) interviewed SOT - In total outlook is much too high for production, unrealistic Oil and Money Conference delegates sitting in conference (4 SHOTS) Sadad Al-Husseini (Former Head of Exploratrion, Aramco) interviewed SOT - They are not only over-estimating Middle East production, they are over-estimating non-OPEC, they are overestimating Russia / This is dangerous situation for US government policy to be based on