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OPEC shrugs off US legal threat | ||
2007-11-18 | ||
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The document said: “We reiterate that measures or legislation undermining the spirit of producer-consumer cooperation would jeopardise market stability and energy security.” It added that consuming countries should adopt “transparent, nondiscriminatory and predictable trade, fiscal, environmental and energy policies; and promote free access to markets and financial resources”. The US House of Representatives voted in May to approve legislation that would strip Opec member states of sovereign immunity they enjoy from prosecution in US courts. The proposals have gathered momentum in Washington because of high oil prices, although the White House has threatened to veto them.
A Saudi official said such a measure would risk triggering a collapse in the value of the dollar. Securing Saudi ArabiaÂ’s oil supply The Saudi Government is establishing a new 35,000-strong industrial security force to bolster the oil industryÂ’s defences. Oil facilities have been protected by a variety of different security groups, including the police, traffic police, coastguard, army and private security guards. Saudi Aramco, the worldÂ’s biggest supplier of crude oil, is spending an estimated $250 million bolstering security at its oil and gas production and processing facilities in Saudi Arabia to help to defend against possible terrorist attacks. The company is being assisted by Control Risks Group, the British security consultancy, which has been helping to draw up plans to fortify vulnerable installations and improve perimeter security Saudi AramcoÂ’s money will be spent on a range of new measures, including thermal imaging cameras and radar technology for isolated desert production sites and export terminals. | ||
Posted by:lotp |
#1 I don't suppose it would occur to these people to actually drill more in the US? |
Posted by: Abdominal Snowman 2007-11-18 18:09 |