Saudi Arabia's Oily Secrets
Editorial, The Washington Post | June 23, 2008
Satisfying a UN request, Saudi Arabia has agreed to pump more oil. ++ Not so long ago, the Sheik would not open up the faucet for Bush. ++ The fact that if oil becomes unaffordable, markets will erode and customers will turn to alternatives, is the cause for the change in Saudi strategy. ++ "After blaming the spike in oil prices on speculators, Saudis have finally admitted the root cause is insufficient supply." ++ Nobody knows for sure when the oil wells will dry out, change
in Saudi strategy could also hint to the fact it's sooner than expected.
Tags: | Saudi Arabia |
oil reserves |
