Saudis call for oil summit, say 'no justification' for price spike - XDTalk Forums - Your HS2000/SA-XD Information Source!

**PackerfanXD** · 06-09-2008, 03:14 PM

Link

Quote:

Madani said that the kingdom has informed "all oil companies it deals with as well as countries that consume oil that (the kingdom) is ready to provide them with any additional oil they need."

Do you think this will bring any real relief?

longtalltechsan · 06-09-2008, 03:24 PM

Don't hold your breath.

Ajcrash · 06-09-2008, 04:34 PM

Quote:

"There is no justification for the current rise in prices," he said.

So where the hell have they been in the last, what 3-4 years. I don't know about you guys but when my bank account balance increases I notice it.

What they don't get news in SA and have heard nothing of the worlds oil prices.

BS

They've been enjoying the record $$ just as much as big oil.

afmo · 06-09-2008, 06:01 PM

they did say something meaningful in that article though, that the saudi's are seeing that increased oil prices drive demand down, and it could hurt them in the long run.

**Old School** · 06-09-2008, 06:06 PM

I bet you the moment that the first crew hits ANWAR with some heavy machines in order to start drilling that oil prices will drop 25%+. OPEC knows that the Liberals will never allow it and they are betting that the Liberals will stay in power.

No dig = higher gas prices for Americans.

OS

Dhunter55 · 06-09-2008, 10:09 PM

Get off the OPEC oil and crucify the speculators.

trik396 · 06-09-2008, 11:04 PM

Quote:

Originally Posted by Dhunter55

Get off the OPEC oil and crucify the speculators.

Correct.

We don't get a majority of our oil from the Saudi's. Around 15% actually.

For the first time, we now get more oil from Canada than the middle east.

Now if we can just get the government to allow drilling in all the places in America where we KNOW there are vast amounts of oil, we'd be doing MUCH better... as long as we don't sell it to the highest bidder... Hmmm... but that's how a free market economy works. So we're screwed any way you want to look at it.

**AZXD** · 06-10-2008, 07:35 AM

It just occured to me that the obvious solution is to start digging for it ourselves

If the MinuteMen can observe and report along the border and get coverage .... Why can't we start digging and wake people up to another solution.

Of course another way to view the OP is to read it as,
Now that prices have been jacked up, we'll sell you as much as you want. But at a rate that does not reduce the price

wombat13 · 06-10-2008, 10:15 AM

The saudis are concerned that the incredibly high prices might convince the developed countries to do something to reduce their dependence on mid-east oil, say drill their own deposits, build nuclear plants and shift to electric cars, etc.

one-eyed-fatman · 06-10-2008, 04:50 PM

Quote:

Originally Posted by AZXD

It just occured to me that the obvious solution is to start digging for it ourselves

If the MinuteMen can observe and report along the border and get coverage .... Why can't we start digging and wake people up to another solution.

Of course another way to view the OP is to read it as,
Now that prices have been jacked up, we'll sell you as much as you want. But at a rate that does not reduce the price

Wanna borrow my gas operated post hole digger?

06-09-2008, 06:01 PM	#4
afmo XDTalk 2K Member Join Date: Oct 2007 Location: Northern California Posts: 2,852	they did say something meaningful in that article though, that the saudi's are seeing that increased oil prices drive demand down, and it could hurt them in the long run. __________________ What country can preserve it's liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. It is it's natural manure. - Thomas Jefferson Ruger 22/45 MKIII Springfield XD-9 Service Stevens Model 67 Series E 12g 1948 M44 Mosin-Nagant

06-09-2008, 06:06 PM	#5
Old School XDTalk 5K Member Join Date: Dec 2003 Location: Illinois Posts: 7,630	I bet you the moment that the first crew hits ANWAR with some heavy machines in order to start drilling that oil prices will drop 25%+. OPEC knows that the Liberals will never allow it and they are betting that the Liberals will stay in power. No dig = higher gas prices for Americans. OS __________________ Visit www.pistolgear.com for all of your XD needs!

06-09-2008, 10:09 PM	#6
Dhunter55 XDTalk 3K Member Join Date: Jan 2006 Location: Bikini Paradise Posts: 3,727	Get off the OPEC oil and crucify the speculators. __________________ Chuck Baldwin 2008 Go Fins! 2008 Last edited by Dhunter55; 06-09-2008 at 10:14 PM.

06-10-2008, 07:35 AM	#8
AZXD XDTalk 10K Member Join Date: Feb 2007 Location: Valley of the GUN Posts: 14,675	It just occured to me that the obvious solution is to start digging for it ourselves If the MinuteMen can observe and report along the border and get coverage .... Why can't we start digging and wake people up to another solution. Of course another way to view the OP is to read it as, Now that prices have been jacked up, we'll sell you as much as you want. But at a rate that does not reduce the price __________________ SCOTUS judge appointments ... Will last much longer than Obama or McCain. Who do you want selecting people who have the ability to support or remove individual rights ?? AZXD At least I don't need any Viagra just to get myself to a point where I can do the Palin librarian fantasy Veep thing. KEVWYO There are a bunch of you that need to hit the head and grab your jar of vaseline and just get it over with. KEVWYO

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06-10-2008, 10:15 AM	#9
wombat13 XDTalk 1K Member Join Date: Oct 2006 Location: Western NY Posts: 1,513	The saudis are concerned that the incredibly high prices might convince the developed countries to do something to reduce their dependence on mid-east oil, say drill their own deposits, build nuclear plants and shift to electric cars, etc.