Article

2008-11-29 International-UN-NGOs

Saudi king says oil should be $75 per barrel

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Posted by ed 2008-11-29 08:56|| || Front Page|| [7 views ] Top

#1 Hey King, I was thinking more like $20-$40 per barrel is reasonable--lower if possible. We don't want to support your friggin opulent life style.

Posted by JohnQC 2008-11-29 09:46|| 2008-11-29 09:46|| Front Page Top

#2 hell, i guess you think it should be $200 a baral so you could line your pockets some more

Posted by rabid whitetail 2008-11-29 11:09|| 2008-11-29 11:09|| Front Page Top

#3 At $40 & below you'll pretty much stop further investment in deepwater (Gulf of Mexico, Brazil, West Africa), shale oil, and greatly slow gas liquefaction, oil sand, etc., which will increase dependency on KSA, and cause another, even sharper price spike in the near future.

Posted by Glenmore">Glenmore 2008-11-29 11:36|| 2008-11-29 11:36|| Front Page Top

#4 The charity ~~bomb the infidels!~~ fund must be getting low. Such a pity.

Posted by Cornsilk Blondie 2008-11-29 12:16|| 2008-11-29 12:16|| Front Page Top

#5 Between the Obama policy's and Green lawsuits I don't think we have to worry about low oil prices discouraging exploration. Three of the 5 years to develop a field is getting past the lawsuits and congressional blocking (NIMBY). And Obama will stop "local" development on federally controled lands as soon as he is sworn in.

Posted by tipover 2008-11-29 12:31|| 2008-11-29 12:31|| Front Page Top

#6 Hey King, I was thinking more like $20-$40 per barrel is reasonable--lower if possible. We don't want to support your friggin opulent life style.

Unfortunately the King would still be making money at that price.

Posted by Thing From Snowy Mountain 2008-11-29 12:38|| 2008-11-29 12:38|| Front Page Top

#7 $75/barrel would be enough to balance the Saudi budget but would still be too low to save Iran from bankruptcy (they need something like $90/barrel).

That might be the thinking.

Posted by mhw 2008-11-29 20:38|| 2008-11-29 20:38|| Front Page Top

#8 Drink it, bitches.

Posted by tu3031 2008-11-29 21:20|| 2008-11-29 21:20|| Front Page Top

#9 This would be a great time for us to tighten up and further consolidate trips, carpool, minimize idling, etc.

Posted by Darrell 2008-11-29 21:39|| 2008-11-29 21:39|| Front Page Top

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Posted by Greentitan 2008-11-29 23:00|| 2008-11-29 23:00|| Front Page Top

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