Gas prices should go down? Saudi prince calls for lower oil prices

[one_voice]

CNN) -- Saudi Prince Al-Waleed bin Talal said Sunday that he wants oil prices to drop so that the United States and Europe don't accelerate efforts to wean themselves off his country's supply.

In an interview broadcast Sunday on "CNN's Fareed Zakaria GPS," the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel.

"We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives," said Talal, who is listed by Forbes as the 26th richest man in the world.

He blamed continuing uncertainty over political stability in the region as well as disruptions in supply tied to unrest in Libya and Bahrain for the current high oil price.

*snip*

http://edition.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/


I think this is one of those good news/bad news things. If gas prices go down, we'll forget about alternatives till they go up again..and we'll start all over again. :banghead:

[graywarrior]

1. And we do have built-in forgetters

[napoleon_in_rags]

2. Good news/bad news, you nailed it.

Don't forget the other dimension though: Whenever the economy picks up, oil consumption increases, which drive the prices way higher. This forces the economy back down, which eventually causes oil to drop. We need alternatives just for the breath of fresh air and sense of direction they would give us after we've been trapped in this dumb recession cycle for so long.

[ClarkUSA]

3. Saudi prince, top Faux News investor: Keep Americans hooked with cheap oil

:puke:

Once again, I'm glad I drive a diesel VW TDI. When the time is right, our second car will be the Nissan Leaf.