• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Home
  • About
  • Podcast
  • Archives

Atomic Insights

Atomic energy technology, politics, and perceptions from a nuclear energy insider who served as a US nuclear submarine engineer officer

Saudi Oil – 60 Minutes Interview Part 1

December 8, 2008 By Rod Adams

Part 1 of 2 – CBS News correspondent Lesley Stahl and the 60 minutes crew provide a look inside Saudi Aramco, the world’s most profitable company and its largest oil supplier – by far. It is incumbent on any good nuclear proponent to understand as much as possible about the overall market in which our favorite technology competes. The below embedded video provides a unique view of the massive investments being made in Saudi Arabia in new fields.

One thing that a good analyst will notice is that the oil minister’s statement about the production cost for Saudi oil is that it does not match the numbers provided for the NEW production fields. He claims a production cost of $2-3 per barrel, yet the new fields being brought on line for a total of $60 Billion in initial capital investment will produce about 2 million barrels per day. At $3 per barrel, 2 million barrels per day would only provide 2.2 billion per year in revenue, which would indicate an ROI of less than 4% without even considering the operating costs for massive industrial facilities located hundreds of miles out in the desert sand.


Watch CBS Videos Online

Filed Under: Uncategorized

About Rod Adams

Rod Adams is an atomic energy expert with small nuclear plant operating and design experience, now serving as a Managing Partner at Nucleation Capital, an emerging climate-focused fund. Rod, a former submarine Engineer Officer and founder of Adams Atomic Engines, Inc., one of the earliest advanced nuclear ventures, has engaged in technical, strategic, political, historic and financial discussion and analysis of the nuclear industry, its technology and policies for several decades. He is the founder of Atomic Insights and host and producer of The Atomic Show Podcast.

Please click here to subscribe to the Atomic Show RSS feed.

Primary Sidebar

Categories

Join Rod’s pronuclear network

Join Rod's pronuclear network by completing this form. Let us know what your specific interests are.

Recent Comments

  • David on Atomic Show #297 – Krusty – The Kilopower reactor that worked
  • Rod Adams on Atomic Show #297 – Krusty – The Kilopower reactor that worked
  • David on Atomic Show #297 – Krusty – The Kilopower reactor that worked
  • Rod Adams on Atomic Show #297 – Krusty – The Kilopower reactor that worked
  • paul wick on Atomic Show #297 – Krusty – The Kilopower reactor that worked

Follow Atomic Insights

The Atomic Show

Atomic Insights

Recent Posts

Atomic Show #297 – Krusty – The Kilopower reactor that worked

Nuclear energy growth prospects and secure uranium supplies

Nucleation Capital’s Earth Day in Atherton

Atomic Show #296 – Julia Pyke, Director of Finance Sizewell C

Solar’s dirty secrets: How solar power hurts people and the planet

  • Home
  • About Atomic Insights
  • Atomic Show
  • Contact
  • Links

Search Atomic Insights

Archives

Copyright © 2022 · Atomic Insights

Terms and Conditions - Privacy Policy