Posted on 05/16/2008 8:09:29 AM PDT by old-and-old
RIYADH, Saudi Arabia - The White House said Friday that Saudi Arabia's leaders are making clear they see no reason to increase oil production until customers demand it.
President Bush was in the oil-rich country to appeal to King Abdullah for greater production to help halt rising gas prices in the United States.
But his national security adviser, Stephen Hadley, said Saudi officials stuck to their position that they already are meeting demand.
(Excerpt) Read more at msnbc.msn.com ...
The dollar held on after the Fed’s kept up appearances with the, “credit crisis is over” happy talk. It didn’t work.
But the dollar did not go up much and is falling some today.
Oil prices will continue to go up.
Besides, why should the Saudi’s up production when our very own Senate has just voted down more drilling?
And don’t we rely on the Saudi’s to buy our federal debt?
We are only kidding our selves if we think they are helping us. They OWN us.
Demoncrats are not good chess players, are they?
We lack the production capacity to build refineries?
How so?
Can’t we disable all of their (U.S.-made) aircraft with a single code?
Well then I guess there’s no need for us to supply them with the spare parts for all the military aircraft they’ve purchased from us.
I want to frow up.
I think I will join you. Barf!
Want to buy a refinery? 220,000 barrels per day, good market. Make offer.
We are hardly the only arms dealer out there. And North Korea may have something to sell them as well.
Of course, Bush could always say that because of the high cost of oil, we can no longer maintain a military presence in Iraq. That will mean, in all likelihood, that the Saudi Wabbists’ little nutjob friends, the Iranian shiites, will move into Iraq and then start playing games with the Saudis on their border. Ask them how Mecca would look with an Iranian guard of honor around the Kabbah instead of Wahhibist military forces there.
I’ll admit I’m pretty ignorant in regard to economics, but it does seem apparent why the dollar is being devalued. If you have debts you cannot repay, then repay them with worthless devalued currency. The German hyper inflation of the 1920’s was to pay off short term government notes issued to finance WW1.
In this case, it’s the federal debts and the private banking debts from the subprime mortgage losses. We are all covering bad debts of the government and bankers by having our standard of living reduced.
At least, that’s my take.
Our government is broken, our leaders as worthless as the money they print.
First.... we do not have the domestic steel making ability to make the miles and miles of pipe as well as the the large cracking units each refinery would require.
Second... The skilled workforce of welders ,pipe-fitters, etc is aging and the young folks are not keen on hot, sweaty, heavy, and dangerous work
Now I'm not saying that there is not a number of young folks willing to do the job, nor steel making plants in the US, just not in the numbers that such a large scale project would require.
Why should Saudia Arabia increase oil production? We have plenty of our own oil in Alaska, off the east and left coast, and in the Gulf of Mexico, but we lack the vision and leadership to effectively manage and use our own natural resources.
Since the first oil embargo in 1973, and despite the fact that Republicans controlled the White House for 23 years since then, including 12 years when we also controlled both houses of Congress, we still do not have an meaningful, comprehensive energy policy. Every Republican president begining with Mr. Reagan should have been hammering this issue day in and day out. He should have been using the power of the bully pulpit and the veto pen to shame and punish both Republicans and Democrats alike for failing to advance the policy. He should have been using executive orders to advance the policy. He should have been tying Federal revenue sharing, from highway and transportation funds to agricultural subsidies, to a State’s willingness to advance the energy policy. If the losers in France and in the other Euroweenie countries can safely convert 80% or more of their electric grid to nuclear power, than we should have able to do it also.
If you want the price of oil to go down, then show the world that we as a Country are very serious about putting an end to OPEC by doing everything that we can to become energy self-sufficent, including (a) the construction of dozens of nuclear power plants, windmills, and solar panels; (b) the aggressive exploration for oil and natural gas within our own borders and waters; (c) the construction of state of the art oil refineries in all regions of the country; (d) the education of our citizens about the importance of energy conservation; (e) the reallocation of foreign aid from subsidizing the OPEC countries to subsidizing our own domestic energy research, exploration and production; and (f) the prosecution of OPEC interests within the jursidiction of our Federal courts for anti-trust violations.
Saudia Arabia is not to blame - WE ARE!
Bush should tell our environmentalist wackos to go hug a tree and declare a State of Emergency and DRILL..DRILL...DRILL!
What's he worried about? His legacy? LOL...
We're going to see some fireworks close enough to the general elections to get McCain elected. Isn't America great? Where else can someone get made-to-order wars?
US Government Rebuffs American People on Oil Production
over, and over and over again... and continuing on into the future
The two parties, the Hate-America Party and the Gutless-Wonder Party, conspire together to keep our own oil and natural gas from us.
There was a time when the USA was the source of reserve oil velocity. That ended about 1973 as announced by the Arab Oil Embargo. We have a shortfall of 60% and that could be reduced to 50% with a massive investment. Saudi has the world’s reserve oil velocity now, and they don’t have a lot of it. Also, USA production is nearly at Saudi level as it is. This situation is narrowly stable: it won’t be improving but might continue for a while longer.
A good friend of mine is an electrical engineer/systems programmer who works offshore oil platforms worldwide, as well as refineries. On more than one occasion he has remarked how embaressing it is American oil refineries are so far behind the curve. 30+ year old complexes with a patchwork of technologies grandfathered in, spaghetti code systems, and ignored inefficientcies.
Hands down, we need American companies to man up and invest in modern cutting edge technology refineries.
America is making it clear it sees no reason to ship arms or food to Saudi until they increase oil production.
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