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4th and Long
05-29-2011, 10:33 PM
Saudi Prince Calls For Lower Oil Prices

Prince Doesn't Want West To Seek Oil Alternatives

By the CNN Wire Staff

POSTED: 3:25 pm CDT May 29, 2011
UPDATED: 4:25 pm CDT May 29, 2011

(CNN) -- Saudi Prince Al-Waleed bin Talal said Sunday that he wants oil prices to drop so that the United States and Europe don't accelerate efforts to wean themselves off his country's supply.

In an interview broadcast Sunday on "CNN's Fareed Zakaria GPS," the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel.

"We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives," said Talal, who is listed by Forbes as the 26th richest man in the world.

He blamed continuing uncertainty over political stability in the region as well as disruptions in supply tied to unrest in Libya and Bahrain for the current high oil price.

"You're not 100 percent sure what is going to happen, because you hear once in a while Iran coming and jumping and antagonizing and intimidating the Gulf region," the prince said. "So, there's a worry."

A major investor in the United States, the prince said the country remains a desired investment target because of its stability.

"At the end of the day, the United States is down, for sure, but it is not out," Talal said.

Asked about the so-called Arab Spring protests reshaping the political landscape in the Middle East and North Africa, he said the level of unrest in his native country is far below that of other countries because of economic stability and the love of the Saudi people for the monarchy.

Still, the prince said, Saudi Arabia needs to "enact some new laws whereby the participation of the people has to be done, one way or another."

alnorth
05-29-2011, 11:01 PM
ummm, no, not really. If the saudis want to sell oil cheap because they fear what will happen if they don't, fine. If they dont sell cheap and we come up with a huge energy breakthrough that is competitive with oil, fine. If for some reason we think a particular alternative energy research project could possibly result in something competitive with oil if we invest a few more billion into it regardless of the price of oil, fine.

We shouldn't be angry at the Saudis for pursuing their best interests, as long as we pursue ours.

Direckshun
05-29-2011, 11:06 PM
We shouldn't be angry at the Saudis for pursuing their best interests, as long as we pursue ours.

Pretty much a side step of the question.

We do not have a significant energy alternative, and in the face of massive political pressure across the west, the slow crawl towards alternative energy rivals the speed of molassis travelling uphill.

So in this time of oil or bust, the Saudis, as well as essentially everyone that controls the distribution of oil, essentially have us bent over the barrel.

alnorth
05-29-2011, 11:41 PM
Pretty much a side step of the question.

We do not have a significant energy alternative, and in the face of massive political pressure across the west, the slow crawl towards alternative energy rivals the speed of molassis travelling uphill.

So in this time of oil or bust, the Saudis, as well as essentially everyone that controls the distribution of oil, essentially have us bent over the barrel.

if they had us "bent over a barrel" they wouldnt be fretting over wanting to lower prices to $70/barrel. Frankly, 70 a barrel isn't that much.

CrazyPhuD
05-29-2011, 11:50 PM
Remember you can extract oil from underneath glass almost as easy as you can extract it from underneath sand.

BucEyedPea
05-30-2011, 01:40 AM
Pretty much a side step of the question.
No it isn't. This is how the market works. This is how the high oil prices ended after the 70's: smaller cars, emphasis on alternatives, people conserving through better fuel efficiency including in automobiles ———> concern by OPEC countries of more of these eventually losing their market. It's called competition. I would add Reagan's deregulation helped too.

We do not have a significant energy alternative, and in the face of massive political pressure across the west, the slow crawl towards alternative energy rivals the speed of molassis travelling uphill.
No significant alternatives because oil prices, after the 70's dropped again. So there were no permanently soaring prices to lead these changes. This is how the market works. If the price gets too high and remains high there is more incentive to move into alternatives. Necessity if the mother of invention.

So in this time of oil or bust, the Saudis, as well as essentially everyone that controls the distribution of oil, essentially have us bent over the barrel.

No they don't. Not in the long term anyway. They're our fourth supplier. We buy most from Canada.

BucEyedPea
05-30-2011, 01:43 AM
if they had us "bent over a barrel" they wouldnt be fretting over wanting to lower prices to $70/barrel. Frankly, 70 a barrel isn't that much.

Exactly!

notorious
05-30-2011, 06:53 AM
The day will come when we will no longer be dependant on oil.

An area of the world in which it's only contribution is underneath it's feet will finally cease have any power.

The leaders of those countries who have raped and pillaged their people will no longer have the U.S. behind them.


I can't wait. **** those pieces of shit.

CrazyPhuD
05-30-2011, 07:21 AM
Actually the solution to our Oil dependance issues can be easily resolved by restarting whaling. Back in the day the primary reason to harvest whales was for their whale oils. Whale oil can be synthesized into oleochemical which can then be synthesized into biodiesel. Clearly if Obama was really looking towards energy independence he would restart the whaling industry and add to the natural supplies for biodiesel!

4th and Long
05-30-2011, 01:03 PM
Actually the solution to our Oil dependance issues can be easily resolved by restarting whaling. Back in the day the primary reason to harvest whales was for their whale oils. Whale oil can be synthesized into oleochemical which can then be synthesized into biodiesel. Clearly if Obama was really looking towards energy independence he would restart the whaling industry and add to the natural supplies for biodiesel!
This is bad. If this happens, it will cause a destructive alien space probe to appear over the Earth in the 23rd century, emanating strange sounds towards the planet, and apparently waiting for something. As time goes on, the probe will start to cause major storms on the Earth and threaten its destruction. The planet itself will be jeopardized as high technology will fail, the oceans will beging to evaporate and the atmosphere will be ionized. Someone will have to attempt to time travel back into the 20th century, locate a whale, and bring it back to 23rd century earth to reply to the probe.

go bowe
05-30-2011, 09:01 PM
This is bad. If this happens, it will cause a destructive alien space probe to appear over the Earth in the 23rd century, emanating strange sounds towards the planet, and apparently waiting for something. As time goes on, the probe will start to cause major storms on the Earth and threaten its destruction. The planet itself will be jeopardized as high technology will fail, the oceans will beging to evaporate and the atmosphere will be ionized. Someone will have to attempt to time travel back into the 20th century, locate a whale, and bring it back to 23rd century earth to reply to the probe.

i think i saw that movie...

HonestChieffan
05-30-2011, 09:14 PM
Pretty much a side step of the question.

We do not have a significant energy alternative, and in the face of massive political pressure across the west, the slow crawl towards alternative energy rivals the speed of molassis travelling uphill.

So in this time of oil or bust, the Saudis, as well as essentially everyone that controls the distribution of oil, essentially have us bent over the barrel.

Study marginality. You do not get it.