Article

2005-03-07 Arabia

Oil prices "unrealistically high" - Saudi adviser

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Posted by Sobiesky 2005-03-07 4:22:24 PM|| || Front Page|| [5 views since 2007-05-07] Top

#1 They want to keep the price just below the level at which it becomes economically rational to look at unconventional sources of petroleum, shale, tar sands, renewed domestic drilling, increased conservation. They also want to keep demand alive. Precipitating a recession in China, which has not allowed its currency to appreciate against the dollar, is also not in the Saudi's interest. Finally, they want to stay out of the American people's cross hairs as tyrannic price gougers. In fact, they want as little U. S. publicity as possible.

Posted by Mrs. Davis 2005-03-07 4:57:33 PM|| 2005-03-07 4:57:33 PM|| Front Page Top

#2 The Saudis say this on a regular basis and Mrs D has probably nailed the reason. The perception of future price instability is a major disincentive to investing in unconventional sources. See my comments of 2 days ago.

Posted by phil_b 2005-03-07 5:07:52 PM|| 2005-03-07 5:07:52 PM|| Front Page Top

#3 Ima call SA bluff, even ifn they'd like to lower the price... they can't, they lost control of the cartel oil pricing mechanizem, bad for the US in the short term, but good in the long term.

Posted by Francis 2005-03-07 5:19:25 PM|| 2005-03-07 5:19:25 PM|| Front Page Top

#4 It's too fricking late. Oil won't last forever. We need to move forward sooner or later. Why not now?

Posted by 2b 2005-03-07 9:24:16 PM|| 2005-03-07 9:24:16 PM|| Front Page Top

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