DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Saudis cut oil output by 1 million barrels a day to raise prices

**beethyday** · 01-31-2007, 07:53 PM

OK so the Republicans on this board aren't worried about the Saudis manipulating oil prices and electric cars with solar electric power is a stupid idea.

Got it.

I guess you didn't read my post, didja Sam?

The Saudi's have been trying to manipulate the price of oil for the past six months, to no effect. They're now increasing their reduction even more in an attempt to keep the price of oil above 55%.

However, this puts them in two bad spots:

1. The overwhelming burden of these OPEC cuts fall disproportionately on Saudi Arabia, something they will be willing to tolerate only for a short period of time.
2. It helps removes them from their role as the global "swing producer", as it means that SA is producing less than 10% of the oil supplied daily.

So... no, I don't worry about the Saudi's manipulating oil prices.

01-31-2007, 07:53 PM	#30
beethyday Join Date Oct 2005 Posts 497 Senior Member	OK so the Republicans on this board aren't worried about the Saudis manipulating oil prices and electric cars with solar electric power is a stupid idea. Got it. I guess you didn't read my post, didja Sam? The Saudi's have been trying to manipulate the price of oil for the past six months, to no effect. They're now increasing their reduction even more in an attempt to keep the price of oil above 55%. However, this puts them in two bad spots: 1. The overwhelming burden of these OPEC cuts fall disproportionately on Saudi Arabia, something they will be willing to tolerate only for a short period of time. 2. It helps removes them from their role as the global "swing producer", as it means that SA is producing less than 10% of the oil supplied daily. So... no, I don't worry about the Saudi's manipulating oil prices.
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