It notes that the Saudi's are upping their oil rig count from 92 to 118. But that the the area they are placing them is in areas where the oil is heavy and sour, not light and sweet like Libya's oil.
In addition it is formulating plans to spend $100 billion on renewable energy sources.
This does not sound like a country that can just punch a couple of extra holes in the ground and tap those produce more oil from the reserves that they claim to have.
As the post concludes:
You may call it unable, or you may call it unwilling. But whatever you want to call it, don't pretend that the Saudis' claimed excess capacity is oil that the world is actually going to use in 2011.