After their meeting this week in Texas, Crown Prin…

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After their meeting this week in Texas, Crown Prince Abdullah and President George W. Bush agreed that Saudi Arabia will work to reduce oil prices. Later, however, Adil al-Jubair, a consultant of Prince Abdullah, said both parties know there is not much Saudi Arabia can do about oil prices. Because even if Aramco increased the production, refiners in the States will not be able to handle the extra amount produced. Maybe I have no idea how the oil market works, but from my point of view, as a simple Saudi citizen, I do not understand why a country that makes most of its revenues from oil would try to reduce the prices. Saudi Arabia is not the only player in the market. I think Saudi Arabia, and other oil producers, should make it clear to the rest of the world that the era of cheap oil is gone forever, and it won’t be back. Don’t you think that $45-50 is a good price? I think so.

5 thoughts on “After their meeting this week in Texas, Crown Prin…”

  1. Why stabilize oil prices?

    It’s kind of like cigarettes, at $1/pack..the number of smokers increases…at $2/pack…the number of smokers stays constant…at $5 a pack..the number of smokers decreases…at $10/pack…smoking pretty much disappears.

  2. Well it’s nearly $10 a pack in some places around the U.S, for instance New York City, it’s around $8 a pack. I used to pay $7 a pack in some hotels in the U.S, ciggerates is an awfully addictive drug.

  3. Saudi has to keep the prices low or else the royals will get their @$$ kicked.

    It’s a feedback mechanism. US gets low on gas cuz of all the gas guzzling SUVs… that triggers the gov to suck up to the saudis.. then saudi lowers gas prices!

    It’s a good thing the US is now looking for other ways to get oil..

  4. Saudi Arabia, is not the only player in the Oil market. How in the hell would the royals get the “ass kicked”?

  5. Are you saying the royals can sustain themselves without any US support? Specially after the rise of extremism in saudi.

    Let’s face it, if it were not for the bush-house of saud friendship and the ages old oil deal, Saudi would have gotten what afghanistan faced right after 9/11!

    Sorry ahmed, i hijacked your comments section.

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