It turns out that they padded their oil reserve estimates by about 40%. I'm actually pleasantly surprised that their exaggeration is as modest as it is. Thank you Wikileaks (formerly Wikileaks.org).
BTW, I highly recommend keeping a Google News search feed for mentions of Wikileaks. All sorts of interesting things pop up in it.
How much difference this will make I don't know. All the ways the government could deal with this, namely taxes, regulation, and increasing public transportation at the expense of cars, are unpopular in this country and verbotten to one of our two parties. I fear we're going to do nothing and go through this transition in the most painful way.
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