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Chapter 1

• Matthew Simmons, the author, is an investment banker from Houston, Texas who specializes in the energy industry.

• Simmons believes that Saudi Arabia, the world's most important oil producing nation, is running out of oil and that the world isn't prepared for the impact.

• Saudi Arabia claims to have the situation under control and can provide oil for the next 50 years, but there is no data to support this.

• Simmons believes the lack of data is meant to hide the fact that Saudi Arabia's most important oil fields are declining.

• In the absence of data, Simmons used more than 200 technical papers written for the Society of Petroleum Engineers (SPE) over the past decades to build his case.

• Saudi Arabia was established in 1932 after years of conflict and war.

• King Saud was the first king, followed by King Faisal.

• King Faisal led the country through economic growth and development...

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