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OIL PRICES

  1. 154 Posts.
    Imagine my surprise (NOT) when Saudi's ex oil minister, Sheik Yamani, in an interview with the BBC last night, suggested that oil prices could go to triple digits.
    On the one hand, Saudi Arabia want to extend the olive branch to US and help keep prices at $30 or below, but the rest of OPEC want to keep prices going up. But the reality is that Saudi will let prices rise, so long as Bush maintains his stand on Iraq. If he (Bush) opens up Iraq, then he can reopen 7mill bpd flow from the country. But if he does that he incurs the wrath of Saudi. If he doesn't go into Iraq, then he is forced to play patsy to Saudi, who say they will help keep prices in line, BUT, they just might not....All the time, Bush's oil friends in US are getting richer by the day.
    In my humble opinion, Bush has to go into Iraq, to save bieng blackmailed by Saudi, and to help his friends get richer.
 
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