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| 2006-05-10 |
| Oil prices are skyrocketing. Iran appears determined to develop its nuclear program, if not weapons. The Iraq war blazes on with no end in sight. Israelis and Palestinians haven't had meaningful peace talks in years. In the middle of this chaos sits Saudi Arabia, the world's largest oil producer. Prince Turki al-Faisal, Saudi Arabia's ambassador to the United States, discussed these and other issues last week with USA TODAY editors and reporters. His comments were edited for length and clarity. Question: With oil prices reaching record highs, what is your sense of today's supply and demand? Answer: There are enough supplies today to meet world demand. In fact, there is an excess supply. For the last two or three years, we've been trying to sell some of our oil on the market, without any customers. When OPEC (Organization of Petroleum Exporting Countries) met a couple weeks ago, they said that not only were supplies available, but also all inventories in all countries are at their highest levels ever. These factors should be bringing down the price of oil. But the issue of security, and the political dimension — not just in our part of the world, but in places like Nigeria, and your differences with Venezuela — add $15 to $20 to the price of a barrel. The political dimension, really, has overtaken the economic and business dimensions. Much more at link, not just about oil. |
| Posted by:Chinter Flarong9283 |
| #6 You're right about the suit. That's one hell of of a color war. I got a kick out of this Q&A: Q: If diplomatic efforts were to fail, should force be used to prevent Iran from acquiring weapons? A: We are against the use of force in any conflict. The effects would be detrimental not just to us but to the whole area. King Abdullah has publicly stated that war destroys, and what our region needs is to be built up. Yeah, just like when Saddam took over Kiwait, you guys just sat there on yer fat behinds, and let the US do the heavy lifting. I also chuckled about the part about having US students go to Saudi universities. |
| Posted by: Alaska Paul 2006-05-10 23:04 |
| #5 Brazil has vast tracts of land suitable for sugar cane. Sugar cane don't grow here. The other products pack an unimpressive energy punch, plus it's food. |
| Posted by: jim#6 2006-05-10 19:36 |
| #4 I watched a documentary on I believe it was Brazil recently. They are almost entirely off of crude oil thanks to manufacturing a type of combustible engine fuel from sugar cane. I can't wait to see the day, hope it isn't far off, when we've achieved the same goal with corn, soybeans, hickory nuts or whatever. When the crude oil revenues begin to plummet, I suspect the muzzies will get a real war on over there. |
| Posted by: Besoeker 2006-05-10 18:56 |
| #3 Holy Jesus Christ! You're right about that jacket! Either he was dressed for the Derby, or he just got done performing in a barber shop quartet. |
| Posted by: Mike N. 2006-05-10 16:21 |
| #2 He was probably dressed for the Derby. It is bad isn't it ? |
| Posted by: jim#6 2006-05-10 14:04 |
| #1 What's up with that jacket? Does a straw hat come with it? |
| Posted by: tu3031 2006-05-10 12:36 |