Saudi Prince Wants to Keep America and Europe Addicted to Oil.

Discussion in 'Up to the Minute' started by Steely Dan, May 30, 2011.

  1. Steely Dan

    Steely Dan Former Member

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    http://www.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/index.html?hpt=T2

    Saudi prince calls for lower oil prices
    By the CNN Wire Staff
    May 29, 2011 4:24 p.m. EDT

    (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....


    While I like the lower gas prices idea I think this should be a kick in the pants to make us take working on alternative fuels a lot more seriously. It seems the more we work on alternative fuels the lower the price of oil will be. JMO
     
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  3. reportertype

    reportertype Dogs are awesome!

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    Could not agree with you more Steely.
     

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