One of the Reasons I'm Buying a Leaf

[LALeaf]

http://www.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/index.html?hpt=T1

Saudi prince calls for lower oil prices

"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.

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."

 

[TonyWilliams]

http://www.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/index.html?hpt=T1

Saudi prince calls for lower oil prices

"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.

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."

Yes, I saw that this morning. Very pragmatic approach. As he said, $70-$80 was an ideal number for both producers and consumers.

 

[Herm]

They have been saying this for a while, but its a commodity and market forces control the price. The new oil fields found in Texas are sure to lower it a bit, plus reduced consumption.

 

[GrumpyCabbie]

Well I like his honesty!

But that's about it. It does sound to me like they're getting a little worried.

 

[awallis]

I'm not sure he's completely honest. At 100 per barrel the Saudi's main enemy, Iran, earns enough money to service its debt and grow its economy. So, beyond maintaining wealth (oil will continue to be expensive), the objectives are deeply political: keep Iran in debt and keep America needing SA so that we will take their side.

 

[LBCev]

If there were ever a case for higher gasoline taxes then this is it. We are clearly at a crossroads where we can make the choice to eschew our dependance on foreign energy for good and all. The Saudi's understand that the momentum for alternatives will only be sustained so long as consumers feel the pinch at the pump. Congress should taxes to maintain a minimum gas price above $4/gallon regardless of market price and use the revenue to fund battery tech, invest an renewables and improve the grid. Of course "KEEP HIGH GAS PRICES!" won't exactly be a winner on a bumper sticker. :twisted:

 

[adric22]

The Saudi's understand that the momentum for alternatives will only be sustained so long as consumers feel the pinch at the pump. Congress should taxes to maintain a minimum gas price above $4/gallon regardless of market price and use the revenue to fund battery tech, invest an renewables and improve the grid. :

I wrote an entire article on this subject about 6 months ago, you can see it here:

http://www.evtalk.org/343/higher-gas-prices-desirable/

 

[smkettner]

Just lip service to placate the American public opinion of Saudi Arabia. Any misstep and they can be next on the list for a change of government. And yet where is the call to actually increase production? Their ability to pump addtional crude is probably waning. OPEC could well lose the clout to control the market in ten years or less. JMHO.