After their meeting this week in Texas, Crown Prin…

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.