Saudi's Say We Don't Need You Or Your Stinking Money
President Bush has gone to Riyadh once again to beg the Saudis to increase oil production, and once again he's been rebuffed. Here's the explanation:Stephen J. Hadley, the national security adviser, told reporters, "What they're saying to us is" that "Saudi Arabia does not have customers that are making requests for oil that they are not able to satisfy," The Associated Press reported.
That's a lovely tautology, isn't it? Needless to say, there's always a price at which the demand for Saudi oil is no greater than what they happen to be putting on the market. Today it's $127 per barrel. If they cut production in half and the price went up to $500 per barrel, they still wouldn't be getting any requests they couldn't satisfy.
That would mean ... we're screwed!




0 Comments:
Post a Comment
<< Home