Bush to Saudi ROYALTY, "Oh please, Your Highness, help McCheney out, give us $3.00 @ gal. gas."

[patrice]

:puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke: :puke:

[lapfog_1]

1. I think the Saudis would like to do so

but the fact is they CAN'T - it's not physically possible.

[Junkdrawer]

2. Not in the long haul. But they might manage a 2-3 month burst for the fall....

Store some oil and then ship it from stock.

[Virginia Dare]

4. They've already stated they will hold enough back..

for their grandchildren to profit handsomely from, of which there are probably thousands.

[lapfog_1]

5. That's their current explanation as to WHY the drilling program

was a failure. But it's a lie. They CAN'T pump more from the current oil fields, and exploration hasn't really met with any success. That's one of the main reasons for the war in Iraq. Exploration for more oil fields in the ME and the grabbing of the current Iraqi oil production. But it was the exploration for new fields that was the big prize. Slant drilling from Kuwait (which was the real cause of the first Gulf war) demonstrated that there were more oil undeveloped oil fields in Iraq... but slant drilling only gets you so far.

[Virginia Dare]

6. I think you're probably correct..

whatever the explanation, oil as a primary source of energy is no longer an option. Hard times comin'...:-(

[lapfog_1]

7. Understatement of the new century.

We cannot possibly sustain 7 Billion people on this planet (never mind what lifestyle they can have) without cheap oil.

We no longer have cheap oil.

7 billion will become 3 billion if we are lucky.... less than a billion if we are not.

[Junkdrawer]

8. Yep. There's a LONG history as to why Iraq oil is largely untapped...

while Saudi oil may well be past peak.

In short, Iranian/Iraqi oil was suppressed, while Saudi oil was used to create and enforce OPEC.

So now the world's largest remaining pool of oil sits where the Brits and the US Oil giants have been suppressing production and encouraging wars and civil wars. No wonder they think of this as a Hundred Year project.

[Virginia Dare]

3. This is the second time this year shrub has been summonsed

before his royal highness. They're keeping him on a short leash. Cheney used to do the Saudi royals' bidding. Wonder what's up, Cheney too ill for the long trip?

[Warpy]

9. It's not their doing. Oil under contract through OPEC

isn't going for $124 plus change. This is the spot market future price, the oil they pump that isn't already under a long term contract.

What's happening to the spot market (along with other commodities like wheat and rice) is a hedge fund driven speculative bubble.

The Saudis have no control over what hedge funds are doing to us. Hedge funds are betting that the lunatics in charge of the US government will start to bomb another oil producing country (IRAN) before they dump the whole mess into a Democrat's lap next January.

Stupid has never let them down, not yet.