RIYADH, Saudi Arabia – Saudi Arabia’s leaders made clear Friday they see no reason to increase oil production until customers demand it, apparently rebuffing President Bush amid soaring U.S. gasoline prices. It was Bush’s second personal appeal this year to King Abdullah, head of the monarchy that rules this desert kingdom that is a longtime prime U.S. ally and home to the world’s largest oil reserves. But Saudi officials stuck to their position that they will only pump more oil into the system when asked to by buyers, something they say is not happening now, the president’s national security adviser told reporters. ‘Saudi Arabia does not have customers that are making requests for oil that they are not able to satisfy,’ Stephen Hadley said on a day when oil prices rose above $127 a barrel, a record high. ‘What the Saudis wanted to tell us was we’re doing everything we can do … to meet this problem, but it’s a complicated problem.’ The Saudi oil minister, Ali al-Naimi, announced that the kingdom decided on May 10 to raise production by 300,000 barrels at the request of customers, including the United States. He said that increase was sufficient. […]
Saturday, May 17th, 2008
Saudis See No Reason to Raise Oil Production Now
Author: JENNIFER LOVEN
Source: The Associated Press
Publication Date: Fri May 16, 4:31 PM ET
Link: Saudis See No Reason to Raise Oil Production Now
Source: The Associated Press
Publication Date: Fri May 16, 4:31 PM ET
Link: Saudis See No Reason to Raise Oil Production Now
Stephan: I don't know about you, but I find it very disheartening to see an American President like a Junkie whimpering for a taste begging our dealer for just a little more.
Addiction makes individuals and nations do things which good sense ought to tell them are wrong choices. We must, with this election regain our dignity by choosing to develop green alternatives.