Saudi Oil Exec: Crude Reserves Figures Bunk

MoneyNews.com ^ | May 29, 2008 | MoneyNews

[Master Shake]

“Gee, developing nuclear weapons is expensive. We’d better find a way to get even more money out of the infidels!”

[b4its2late]

Why would they want us to think they have more oil than they do? You’d think it’d be the reverse.

Absolutely. That way they get the big bucks now, and later when the reserves actually decline.

[RightWhale]

NYMEX crude 133 +11 since yesterday.

What is doing this? Global Warming?

[thackney]

+11 ??? I thought it closed at $127.79 yesterday.

http://www.chron.com/disp/story.mpl/business/5822312.html

Prices jumped $6.43 today shortly after Ole Slorer of Morgan Stanley released a report saying he expected a “short-term spike in oil prices,” on the back of rising demand in Asia, Dow Jones Newswires reported.

[RightWhale]

That is two days together. The bubble poppage seems to have been deferred.

[thackney]

My mistake, +11 it is.

I forget with the Alaskan Time Change you get to see into the future.

[RightWhale]

Not like Japan though. It really is tomorrow there.

[G8 Diplomat]

Why would they want us to think they have more oil than they do? You’d think it’d be the reverse.

Because, if you're the #1 oil producer in the world, you don't want your clients to know you're running out of oil. That would convince people (if they're smart) to either drill in their own borders or start up nuclear power plants, and there goes a big chunk of the Saudis' moo-lah.

[G8 Diplomat]

Junk your SUV and buy an electric scooter

If people wouldn't buy multiple SUVs and Hummers per family, give their 16-year-olds new SUVs for their birthdays, drive to places they could walk to, and refuse to carpool, our demand wouldn't be so high. We'd probably still be the #1 consumer of course, but we're making the problem worse with our excess consumption. Also if the driving age was raised to 18, every 16-year-old that's currently driving would not be, and thus less gas is needed.

[Tolerance Sucks Rocks]

How about this idea. Nobody can get a drivers license unless they can prove that they can back a tractor trailer into a loading dock. This was proposed by an uncle of mine. You would probably have a lot less cars on the road. On the other hand, numerous taxi services, mass transit systems, and bike paths would sprout up, in addition to those already present.