Saudi Arabia To Increase Oil Production

Font Size By Associated Press/ CNN Newsource
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M50o93H7pQ09L8X1t49cHY01Z5j4TT91fGfr Saudi Arabia To Increase Oil Production
Published: Sun, June 22, 2008 - 1:30 pm
JIDDAH, Saudi Arabia (AP) - Saudi Arabia says it's willing to
produce more oil if its customers need it.
But Saudi King Abdullah has told those gathered at an oil summit
he hosted today that recent production levels aren't why prices
have climbed so high.
His statement came even as U.S. and other oil consumers pressure
the Saudis to increase output. Modest increases will begin in July,
though that hasn't affected prices yet.
The king says he blames speculators, high fuel taxes in
consuming countries and increased oil consumption in developing
economies.
A final statement from the summit says it's important to find
the right supply and demand balance, while also making the markets
trading oil more transparent.

Not every one will be able afford a new car of any kind. But we’ve got to start now using all of our options to cut dependency on imported oil. That includes electric and fuel cell cars, solar power,and increased drilling and refining not to mention conservation. To get the production of any of these up to sustainable levels would probably take equal amounts of time before we can reap the benefits. having electric cars is not gonna do it by them selves or drilling by it self. We have to implement all of these measures.

Posted by carl on 06/23/08 - 12:03 pm • Report Abuse   

boondock, you are right on it. saudi knows this.
i doubt the government will give a electric car to the people on limited income. who are in bad shape now social security checks have not gone up to meet the demand of high fuel prices. i found this post i believe to be someone on social security , this is making me really mad its more than about electric cars. it will effect everything.

“I just dont know what we are going to do they say gas could go as high as $15.00 a gallon if it goes that high the oil people will start fealing it because there will be no gas being sold . I can barley aforde gas know. The only time we go to town is on payday we by groceries and git medicin and pick up what ever elce we nead in town and then we go home it is a 20 minute ride from my home to town and a 20 minute back home. “

this green thing has gone to far. its not the oil companies it is the stock market, oil companies drill for oil its their job to produce.  investors drive the market.

Posted by rosepetal on 06/23/08 - 9:51 am • Report Abuse   

Me either at this time, but once mass production starts the prices will drop and we will never be independent of energy prices from foreign countries unless we start now. Electric and fuel cell cars along with increased domestic production of crude would would put us a long way down the road on our Quest for energy independence. I am sure most of our leaders know this, there must be a lot of money being paid out under the table to prevent this from rapidly happening. It’s gonna happen eventually and now would be a excellent time to start in my opinion.

Posted by carl on 06/23/08 - 9:08 am • Report Abuse   

It’s not big oil people!  It’s the damn speculators and traders.  They are making a killing and laughing at all of you blaming somebody else.  Foreign countries don’t set prices, wall street does.

Posted by Boondock on 06/23/08 - 9:07 am • Report Abuse   

i can not afford an electric car, i think its great they are willing to do something. seeing they are behind canada and mexico in supplying oil to the united states.  i mean lets get real, we will not drill here because of invro issues, but we sure do not mind them doing it. why not put pressure on canada. or better yet get those drills cranking and drill here i am ready to get a shovel and start digging in my back yard. a lot of truckers are going to mexico to get diesel its around 2 dollars a gallon. just think if we were the number one oil producer in the world again.

Posted by rosepetal on 06/23/08 - 8:47 am • Report Abuse   

YEA! just appeasing some of their friends in power so it will appear they really care about what happens to rest of the world! They’re going to make a boat load of money any way it goes and so are their friends here in the U.S.A. . If you really want to hurt these guys and those like them that are gouging the world on oil, get all electric cars or fuel cells going and don’t let them buy up the patents or companies that will make them.

Posted by carl on 06/23/08 - 8:01 am • Report Abuse   

they have all the money in the world so what do they care if pore people can aforde gas the goverment got to do something or the United States going to slame to a screaching halt.

Posted by LPJ1959 on 06/23/08 - 1:08 am • Report Abuse   

sounds like double talk and A crock of bulland passing the buck.

Posted by LPJ1959 on 06/23/08 - 1:05 am • Report Abuse   


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