PastaJoe Posted May 16, 2008 Posted May 16, 2008 Maybe it's time to pull our troops and ships out and tell the Saudis to start protecting themselves, instead of going hat-in-hand asking for favors. I'm tired of our country protecting these monarchies who thumb their noses at us when we ask for some reciprocal help. NEW YORK (CNNMoney.com) -- Oil prices surged nearly $3, reaching a record high of almost $128 a barrel Friday as Saudi Arabia rejected President Bush's call to increase production. According to the White House, Saudia Arabia doesn't see enough demand to increase production. President Bush met with Saudi Arabia's King Abdullah on Friday as part of his Middle East tour to appeal for greater production to help quell crippling fuel prices. Crude began to rise earlier in the day after traders foresaw a jump in diesel fuel use following the earthquake in China and Goldman Sachs revised its price outlook sharply higher. Oil prices: U.S. crude for June delivery was up $2.96 a barrel to $127.08 on the New York Mercantile Exchange. Earlier, crude hit $127.82, topping the previous intraday record of $126.98 set Tuesday. Last Friday, oil closed at a record $125.96 a barrel. "Everything the market looks at is bullish," Peter Beutel, an oil analyst at Cameron Hanover, wrote in a research note Friday. Traders fear that the rebuilding after the 7.9 magnitude earthquake that rocked southwest China Monday - and killed more than 20,000 people with tens of thousands of others still missing - will lead to a sharp increase in diesel fuel use, the Associated Press reported. http://money.cnn.com/2008/05/16/markets/oi...dex.htm?cnn=yes
erynthered Posted May 16, 2008 Posted May 16, 2008 Didn't I read that SA increased production up 300K barrels a day 6 days ago?
colin Posted May 16, 2008 Posted May 16, 2008 Didn't I read that SA increased production up 300K barrels a day 6 days ago? THEY WON'T INCREASE PRODUCTION ON AN UNLIMITED BASIS!!! I'M SICK OF OTHER NATIONS NOT BEING OUR LAP DOGS AT EVERY SINGLE TURN!!!11 KILL THEM!!
Peter Posted May 16, 2008 Posted May 16, 2008 What happened to "jawboning"? When Bush first ran for president in 2000, he criticized the Clinton administration for high fuel prices and said the president must "jawbone" oil producing nations and persuade them to drop rates. At that time, oil was nearing $28 a barrel. The run-up of oil prices lately has been dramatic. W's Trip to Saudi Arabia The one thing that W supposedly had going for him was his and his family's relationship with SA. Unfortunately, that has not worked out too well the past 8 years. No wonder W does not want to talk to adversaries around the world given that he is unable to convince our friends to do anything for us.
stuckincincy Posted May 16, 2008 Posted May 16, 2008 Maybe it's time to pull our troops and ships out and tell the Saudis to start protecting themselves, instead of going hat-in-hand asking for favors. I'm tired of our country protecting these monarchies who thumb their noses at us when we ask for some reciprocal help. Right...like that self-serving Peanut Farmer who still mucks things up anywhere and anytime, that stiffed the Shah of Iran and enabled the rise of Islamic fundamentalism and it's Shiite campaign of terror. Jimmie's hands are dripping with blood... No thanks. No deja vu.
DC Tom Posted May 16, 2008 Posted May 16, 2008 Maybe it's time to pull our troops and ships out and tell the Saudis to start protecting themselves, instead of going hat-in-hand asking for favors. I'm tired of our country protecting these monarchies who thumb their noses at us when we ask for some reciprocal help. We pulled our troops out of Saudi Arabia in 2003. Way to keep up on current events.
Steely Dan Posted May 16, 2008 Posted May 16, 2008 Right...like that self-serving Peanut Farmer who still mucks things up anywhere and anytime, that stiffed the Shah of Iran and enabled the rise of Islamic fundamentalism and it's Shiite campaign of terror. Jimmie's hands are dripping with blood... No thanks. No deja vu. Stiffed the Shah of Iran? Looks like Bandu Bush is becoming the Black Sheep of the family. Maybe they're unhappy with his Iraq invasion thingy.
PastaJoe Posted May 16, 2008 Author Posted May 16, 2008 We pulled our troops out of Saudi Arabia in 2003. Way to keep up on current events. I didn't say Saudi Arabia. We're in countries all around Saudi Arabia and the strait. The police don't have to live in your house to make you feel safe if they're just down the street.
Pete Posted May 16, 2008 Posted May 16, 2008 Lets see- Al-Qaeda is pissed at the Saudi royal famly over the first gulf war... We have the Iraq quagmire... We said we were Israel's best friend yesterday... We are threatening war with Iran... We piss away the worlds resources like no other country... The dollar is all time low... We have lost credibility worldwide... Etc... Why should Saudi Arabia increase oil production? American foreign policy astounds me....
DC Tom Posted May 16, 2008 Posted May 16, 2008 I didn't say Saudi Arabia. We're in countries all around Saudi Arabia and the strait. The police don't have to live in your house to make you feel safe if they're just down the street. Better plan. Let's abandon all our allies in the gulf to teach the Saudis a lesson.
Wacka Posted May 17, 2008 Posted May 17, 2008 Let see, The price of a barrel of oil is set by speculators in the financial market. The Saudis said that they are running at near capacity. The use of cars has increased severalfold in Russia, China, and India, three of the worlds most populated countries. China is the worst polluting country on earth. We haven't built a new refinery since the 70s. We can't drill in Alaska and offshore, while Cuba is. Yeah, it's all Bush's fault
Steely Dan Posted May 17, 2008 Posted May 17, 2008 Let see,The price of a barrel of oil is set by speculators in the financial market. The Saudis said that they are running at near capacity. The use of cars has increased severalfold in Russia, China, and India, three of the worlds most populated countries. China is the worst polluting country on earth. We haven't built a new refinery since the 70s. We can't drill in Alaska and offshore, while Cuba is. Yeah, it's all Bush's fault Yeah, all of those things weren't going on before the last year.
/dev/null Posted May 18, 2008 Posted May 18, 2008 Let see,The price of a barrel of oil is set by speculators in the financial market. The Saudis said that they are running at near capacity. The use of cars has increased severalfold in Russia, China, and India, three of the worlds most populated countries. China is the worst polluting country on earth. We haven't built a new refinery since the 70s. We can't drill in Alaska and offshore, while Cuba is. Yeah, it's all Bush's fault wtf are you smoking, it's all GW Bush, the Saudi princes, and Haliburton®'s fault To show my displeasure with the above, I'm going to slap a "No Blood For Oil" bumper sticker on a 10 MPG monster SUV and let the world know whose fault it is!
Nanker Posted May 18, 2008 Posted May 18, 2008 How in the name of common sense do our Senators have the gall to "demand" that OPEC increase their production when we refuse to drill more on our own soil? What planet do the Saudis and others live on that won't have the environment spoiled by more drilling? Drilling is bad for the environment - isn't it? The last oil refinery built in the US was completed in 1976. We haven't had a new nuclear power plant go online in over 40 years. The Europeans - especially the French and Belgians are exporting electricity generated by their nuclear power plants. They're PROUD of them. I thought Europeans were so sophisticated and wonderful and we should be more like them. I'm so conflicted... not!
In-A-Gadda-Levitre Posted May 18, 2008 Posted May 18, 2008 How in the name of common sense do our Senators have the gall to "demand" that OPEC increase their production when we refuse to drill more on our own soil? umm, the Congress didn't ask the Saudis to increase production, Bush did. The American people consistently oppose more drilling when polled, especially in ANWR. You would hard pressed to find a poll (except one in Florida) that support increased drilling and the bulk of the analysis done by the oil companies (and they're damn good at it) shows the US doesn't have much in the way of light crude reserves and what is available would be quite expensive to extract. The answer isn't to drill our way out of this - we have to conserve more energy and develop cost effective alternative fuels.
ExiledInIllinois Posted May 18, 2008 Posted May 18, 2008 umm, the Congress didn't ask the Saudis to increase production, Bush did. The American people consistently oppose more drilling when polled, especially in ANWR. You would hard pressed to find a poll (except one in Florida) that support increased drilling and the bulk of the analysis done by the oil companies (and they're damn good at it) shows the US doesn't have much in the way of light crude reserves and what is available would be quite expensive to extract. The answer isn't to drill our way out of this - we have to conserve more energy and develop cost effective alternative fuels. We are a nation of NIMBY's even when it isn't directly in our own back yard... A NIMBY nation that is flush with special interest enviro money to block a lot of things!
Nanker Posted May 18, 2008 Posted May 18, 2008 umm, the Congress didn't ask the Saudis to increase production, Bush did. The American people consistently oppose more drilling when polled, especially in ANWR. You would hard pressed to find a poll (except one in Florida) that support increased drilling and the bulk of the analysis done by the oil companies (and they're damn good at it) shows the US doesn't have much in the way of light crude reserves and what is available would be quite expensive to extract. The answer isn't to drill our way out of this - we have to conserve more energy and develop cost effective alternative fuels. Wrong! Thursday, April 24, 2008 - before The President's trip to the middle east: "Several Democratic senators are threatening to hold up valuable arms deals with Middle Eastern countries if OPEC members don't increase oil production to help ease the cost of gasoline. Sen. Chuck Schumer of New York led the group protesting what he described as a manipulation of supplies to drive up prices. He said the senators are not yet introducing a resolution that would prevent any arms deal from being passed in the Senate Foreign Relations Committee."
In-A-Gadda-Levitre Posted May 18, 2008 Posted May 18, 2008 Wrong! Thursday, April 24, 2008 - before The President's trip to the middle east: "Several Democratic senators are threatening to hold up valuable arms deals with Middle Eastern countries if OPEC members don't increase oil production to help ease the cost of gasoline. Sen. Chuck Schumer of New York led the group protesting what he described as a manipulation of supplies to drive up prices. He said the senators are not yet introducing a resolution that would prevent any arms deal from being passed in the Senate Foreign Relations Committee." LMAO so the congress is threatening and Bush flat out asks, and they're to blame? The congress and the president are under tremendous pressure to do something in the short term. They could decide to drill today in the ANWR and we wouldn't see the effect for years. What exactly would you propose that would affect the price of gas in 2008?
ExiledInIllinois Posted May 18, 2008 Posted May 18, 2008 Wrong! Thursday, April 24, 2008 - before The President's trip to the middle east: "Several Democratic senators are threatening to hold up valuable arms deals with Middle Eastern countries if OPEC members don't increase oil production to help ease the cost of gasoline. Sen. Chuck Schumer of New York led the group protesting what he described as a manipulation of supplies to drive up prices. He said the senators are not yet introducing a resolution that would prevent any arms deal from being passed in the Senate Foreign Relations Committee." Who gives a flyin' phuck?... It is an election year... Tit for tat, who's the bigger rat... Man, the pols will be scrambling to see who has less egg on their face!
Peter Posted May 19, 2008 Posted May 19, 2008 FWIW, to put things in context, oil is up about $100 per barrel since W became president.
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