It's never good when your dealer is worried about you.....
The Saudis are worried about high oil prices.....
(Remember in 2004 when there were all the accusations that the Saudis lowered oil prices to help the GOP reelect George Bush....)
Saudi Arabia, the world’s biggest oil exporter, is planning to increase its output next month by about a half-million barrels a day,....
While they are reaping record profits, the Saudis are concerned that today’s record prices might eventually damp economic growth and lead to lower oil demand, as is already happening in the United States and other developed countries. The current prices are also making alternative fuels more viable, threatening the long-term prospects of the oil-based economy.
(Remember in 2004 when there were all the accusations that the Saudis lowered oil prices to help the GOP reelect George Bush....)
posted by mikevotes at
6:00 AM
4 Comments:
Also, since Gulf oil exports are denominated in dollars, the more we lose, the more they lose.
Remember in 2004 when there were all the accusations that the Saudis lowered oil prices to help the GOP reelect George Bush
Yes, and those were pretty well-founded "accusations", too, as I recall. Once bitten, twice shy, however.
By
Todd Dugdale , at 11:58 AM
Two changes. 1) McCain is not Bush dynasty and not Cheney's history.
2) Something of a newer leadership and strategy which is looking to balance Saudi between the US and China/India.
By
mikevotes, at 2:15 PM
I won't disagree, but would you care to expand on that?
Are you saying that the Saudis are moving away from us now that the Administration is changing?
By
Todd Dugdale , at 3:20 PM
The Saudis are afraid of Iran.
By
Anonymous, at 5:11 PM
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