View Full Version : Saudi King: Get Used to High Oil Prices
kg4kww
07-01-2008, 08:33 PM
Saudi Arabia's King Abdullah told oil consumers Tuesday that they should get used to high prices and not blame the country for the spike in the price of crude, the Agence France-Presse news agency reported.
"Consumer countries have to adapt to the prices and the mechanisms of the market," the king said in an interview published Tuesday in Kuwaiti daily Al-Siyassah.
Abdullah's comments came as the price of oil jumped past $143 a barrel for the first time.
The king contends that speculators are to blame for the rising costs, a claim that has been denied by the International Energy Agency, AFP reported.
"Often it is a case of political expediency to find a scapegoat for higher prices rather than undertake serious analysis or perhaps confront difficult decisions," the IEA told AFP.
full story (http://www.foxnews.com/story/0,2933,374602,00.html)
kg4kww
07-01-2008, 08:58 PM
Saudi King Rules Dudes
K6BBC
07-01-2008, 10:39 PM
Saudi King Rules BUSH Dudes - I think that is what you meant to say.
bbc
Saudi King Rules Dudes
Before its over they will end up in tents again.
W4INF
07-01-2008, 11:17 PM
Im not up to speed on politics, hope I never am... I like to keep my dinner down.
However this Newt video to me sounds common sense and doable.
http://www.youtube.com/watch?v=UOpcPfAarjY&eurl=http://wdrww.afa.net/newtvideo.html
Andrew
Saudi Arabia's King Abdullah told oil consumers Tuesday that they should get used to high prices and not blame the country for the spike in the price of crude, the Agence France-Presse news agency reported.
And he's 100% correct.
Before its over they will end up in tents again.
Hah. They are smarter than that.
In the UAE and other gulf states they are reinvesting their oil money into tourism. When the oil dollar dries up, tourism will be there to stay.
Besides, I thought you guys said that oil kept regenerating itself in the ground?
RJ it is not a lack of oil in the ground. It is the lack of authority to go after it thanks to the environmentalists.
RJ it is not a lack of oil in the ground. It is the lack of authority to go after it thanks to the environmentalists.
Are you serious?
Or rather, do you seriously believe that tripe?
Most oil leases go unused (http://www.msnbc.msn.com/id/5111184)
Oil Making 'Overnight Millionaires' in North Dakota (http://www.foxnews.com/story/0,2933,374243,00.html)
One particularly telling quote from that story:
State and industry officials say North Dakota is on pace to set a state oil-production record this year, surpassing the 52.6 million barrels produced in 1984. A record number of drill rigs are piercing the prairie and North Dakota has nearly 4,000 active oil wells.
I know you guys will say, "oh but those aren't proven reserves like ANWR!!!"
Oh really?
In less than a year, Stohler and his wife, Lorene, 82, have become millionaires from the production of one well on their land near Dunn Center, a mile or so from the sod home where Oscar grew up. A second well has begun producing on their property and another is being drilled — all aimed at the Bakken shale formation, a rich deposit that the U.S. Geological Survey calls the largest continuous oil accumulation it has ever assessed.
Not drilling enough into proven reserves you say?
I beg to differ.
Also, what do US environmental regs have to do with Saudi Arabian oil production???
N4VGB
07-02-2008, 12:32 AM
Saudi King Rules BUSH Dudes - I think that is what you meant to say.
bbc
Should Obama prevail, the bursting of your bubble may be more than you can bear. Keep a good supply of meds on hand for the letdown. ;):)
K8ERV
07-02-2008, 12:43 AM
Besides, I thought you guys said that oil kept regenerating itself in the ground?
Where are the dinosaurs when you need them?
TOM K8ERV Montrose Colo
N4VGB
07-02-2008, 01:01 AM
Besides, I thought you guys said that oil kept regenerating itself in the ground?
Q:What component in the creation of crude oil has ceased in the world!?
A:Absolutely nothing. :p
kg4kww
07-02-2008, 07:25 PM
We are subjects of the Saudi King and Pals and will be more so if Obama gets elected.
I see ur still crazy after all these years!
Yup, we got LOTS of oil, more than we can ever use! And, and, tectonic plate movement is making more all the time! And, and, all we gotta do open the whole world up to drilling.... And, and, we need to burnup more and more oil...... Why, lets make cars and trucks that get 8MPG (oh, we already have them don't we.) Yup, GREAT solution.
de K7VV
You musta missed a couple of classes in Geology 101.
Please, go talk to a real petro geologist about the process by which these oil fields were produced.
You're in for a real surprise.
de K7VV
n2ize
07-02-2008, 09:46 PM
Before its over they will end up in tents again.
No, nobody with big money is going to end up in tents. Ask yourself this question. Who is more welcome at the White House ? You or the Saudi King ? Who would Bush and Cheney prefer to sit and dine with. You or the Saudi King ?
You'll be in a tent long before the Saudi King.
n2ize
07-02-2008, 09:46 PM
We are subjects of the Saudi King and Pals and will be more so if Obama gets elected.
I highly doubt it. See above .
But who would Bush want to hold hands with,
you or the Saudi king?
de K7VV
kg4kww
07-07-2008, 09:16 PM
You can thank the Dem congress for this mess. It will be worse if Obama Carter gets elected.
Who owns the oil??
http://sweetness-light.com/archive/nationalized-companies-control-95-of-the-oil/print
W1GUH
07-07-2008, 09:50 PM
OK. I'm officially befuddled about oil prices.
So Saudi Arabia pumps oil out of the ground and gets it to the ports where it can be loaded onto tankers. Somebody pays the Saudis for the oil that gets loaded into those tankers.
Has the price paid for that oil at the port gone up?
If so, why? More demand? Less oil? Decisions of the cartel?
Now...whoever paid for that oil...is that somebody with a refinery which needs the raw material (the oil in that tanker), so he can keep production going, or is that oil paid for by a speculator who acts as a middleman between the Saudis and the refineries. Say, he buys a tanker full of oil knowing that he'll be able to sell it for a profit to a refinery. So in the case of a middleman speculator, has the price he pays changed? Has the price he can get changed? Or Both?
OK...so that oil eventually gets to the refinery and becomes fuel oil, gasolene and jet fuel.
Again....how has the price they pay for the crude changed? How has the cost of production changed? How has the price they can get for the finished product changed?
I guess I'm asking, "Who's the bad guy here, or is there no bad buy, just a world where demand is going up, up, up?"
Muy complicated, to say the least.
And I haven't even mentioned futures.
N7RJD
07-07-2008, 10:35 PM
Saudi King Rules BUSH Dudes - I think that is what you meant to say.
bbc
Saudi King rules Haliburton. Haliburton rules Cheney. Cheney rules Bush. I don't understand why GWB is so afraid of Cheney, it's not like he's a lawyer or anything.
Hah. They are smarter than that.
In the UAE and other gulf states they are reinvesting their oil money into tourism. When the oil dollar dries up, tourism will be there to stay.
Besides, I thought you guys said that oil kept regenerating itself in the ground?
Let's not forget that they have dropped the US dollar and are now holding a "basket" of curencies on the bet that the dollar tanks.
ki4spb
07-08-2008, 12:32 PM
Let them charge $140+ a barrel for oil, I say start putting wheat and corn in a barrel and tell them that whatever they charge us for oil a barrel, that will be the price of wheat and corn a barrel!
W4DFW
07-08-2008, 01:19 PM
I say we start drilling like crazy over HERE and then tell them OVER THERE to kiss our . . .
Saudi Arabia's King Abdullah told oil consumers Tuesday that they should get used to high prices and not blame the country for the spike in the price of crude
Saudi's King should get used to the forthcoming and prolonged U.S. OcFor's (Occupational Force) in-country exercises as yet again they struggle to liberate Teh Oyal from its greedy owners...
K8ERV
07-08-2008, 01:57 PM
You'll be in a tent long before the Saudi King.
I have a few tents for sale, but they are not related to ham radio.
TOM K8ERV Montrose Colo
We might consider that there could be more than one reason for the increase in the cost of oil.
Think now.
Slowly....
Carefully....
Perhaps make a list....
What could some of the reasons for high oil prices be?
Who's gunna be first?
de K7VV
I say we start drilling like crazy over HERE and then tell them OVER THERE to kiss our . . .
Won't change a thing Doc, it's a refining issue not a supply issue. You guys don't pay attention do you?
Glad your not my doctor.
kg4kww
07-08-2008, 05:40 PM
You can thank the Dem congress for this mess. It will be worse if Obama Carter gets elected.
You can thank the Dem congress for this mess. It will be worse if Obama Carter gets elected.
Nice spam Greggy-poo. You and link bot been kissing?
Nice spam Greggy-poo. You and link bot been kissing?
Deeply....
N1LAF
07-08-2008, 09:51 PM
We might consider that there could be more than one reason for the increase in the cost of oil.
Think now.
Slowly....
Carefully....
Perhaps make a list....
What could some of the reasons for high oil prices be?
Who's gunna be first?
de K7VV
I'll give it a try, after all, I am a good sport...
1. Saudi Arabia says, I have a days production of oil, Mr. Market, what will you give for for this block of oil?
essentially, it is going to the highest bidder. It is a business.
N1LAF
07-08-2008, 09:51 PM
Let them charge $140+ a barrel for oil, I say start putting wheat and corn in a barrel and tell them that whatever they charge us for oil a barrel, that will be the price of wheat and corn a barrel!
I like that idea, a direct swap.
N1LAF
07-08-2008, 09:54 PM
Won't change a thing Doc, it's a refining issue not a supply issue. You guys don't pay attention do you?
Glad your not my doctor.
If the refineries was the case, wouldn't refined fuel prices be high, but not raw crude?
Since raw crude is high, that is where damand is matching up with supply.
So far we'll record one vote for 'supply and demand driven market economy'....
de K7VV
kg4kww
07-09-2008, 02:43 AM
The Dems have been in control for 32 years and Gas has gone up, jobs have been lost to outsourcing, Pelosi wants to surrender to terrorists.
Yep the Dem congress has done wonders for this country.
Accept it.
If the refineries was the case, wouldn't refined fuel prices be high, but not raw crude?
Since raw crude is high, that is where damand is matching up with supply.
It's spot prices, remember. Spot prices.
Small percentages of the overall oil actually shipped.
The price of what you are pumping into your tank is still around $50 a barrel.
Keep your eyes on the ball...
Post hoc ergo propter hoc.
de K7VV