"Saudi Arabia is concerned that sustained high oil prices will eventually slacken the world's appetite for oil, affecting the kingdom in the long run." UN chief: Saudi Arabia to boost oil production - Jun. 15, 2008
Who cares as long as the profit keeps going up. The goal in the game is to maximize profits, not maximize sales. Sometimes they go hand in hand, some times they don't. Ask Ferrarri if they want everyone to have a Ferrarri in their garage.
They've tried before, but NO ONE would listen, they saw the future, Bush and his oil companies didn't want to: THIS IS 2004, THEY MADE THE SAME OFFER AFTER KATRINA Benicia refinery owner says no to Saudi offer - East Bay Business Times: A pledge by the Saudi Arabian government to invest in the development of two new oil refineries in the United States was met with relative indifference from the nation's largest oil refiner. On April 27, Saudi Arabia's Minister of Petroleum and Mineral Resources, Ali bin Ibrahim Al-Naimi, made a pledge of support while speaking at the U.S.-Saudi Relations and Global Energy Security conference. The event was sponsored by the U.S.-Saudi Arabian Business Council and the Center for Strategic and International Studies. "On this occasion, let me state emphatically that Saudi Arabia is willing and ready to invest in two new refineries and their associated marketing facilities in the U.S. to help alleviate some of the bottlenecks in product availability," Al-Naimi said. Al-Naimi said the reason for the current spike in gasoline prices is not due to a shortage of crude oil in the market, but due to market speculation, refinery bottlenecks and environmental regulations. Al-Naimi said the offer to invest in new refineries in the United States is part of Saudi Arabia's pledge to keep oil prices between $22 and $28 per barrel to stabilize the world's oil market. The last oil refinery that was built in the United States was commissioned by Valero in 1984, says Brown.
You'd think that producing 15 (of the 19) 9-11 suicide bombers would be enough to at least anger Americans. Instead, we decided to kill a million or so other brown people in Iraq. That way, we can still hold hands and kiss the actual terrorists. ... Brad
I think that the really scary thing is what happens in the middle east when the oil runs out and those countries have nothing but people and sand. They are having trouble now integrating into the world community and cannot provide for their people. We may have a swath of countries as bad as Pakistan all across the Middle east.
Iran, Saudi Arabia, and Iraq will be the ones to worry about, they don't and won't spread the wealth very well, and aren't really planning for the future, but the other Middle East oil countries are.
Agreed. It does seem odd that we are: - at war with one - saber rattling with another - absolutely LOVING the other one! (you know, the origin of the 911 killers) Don't we have that mixed up a bit? It reminds me of another government sponsored lie - the communist lie. We can not do business with Cuba because you know, Cuba is a bad communist country, m-kay. Oh China? The country where the US buys nearly everything? Ah .... they're awesome! ... Brad
On the contrary, they are planning for the future - They're planning on the masses having nothing but sun, sand, and hatred while the wealthy retire to rich lives in more prosperous countries.
Big correct on that one, whats really funny is, if we had opened up trade and commerce between the US and Cuba right after Fidel took power, or even for that matter, took Fidel up on his request for help with his revolution, Cuba would probably be very prosperous and openly democratic by now. Instead we supported the corrupt dictator, because he suited our business interests better.
Well, there is at least one other goal: Trying to keep the Americans happy and sending military hardware...
Yep. When your biggest customer starts to get serious about cutting the demand, then you act. Hybrid sales are going up. Conservation is on the rise. If the U.S. cuts it's oil use by a significant percentage, other countries may do the same. While there is no avoiding oil in the near future, the chance that some serious alternatives may be developed due to the high cost of oil is of concern to them I'm sure. Germany is #1 for PV. What if one goal of the U.S. was to replace Germany as #1? What would that alone do?
