Originally Posted by Sneezy
And if Saudi Arabia ever decides to open the spigots again oil will drop to under $30 a barrel.
And why would they do that? Would you rather sell at $50/bl for longer, or $30/bl and run out sooner.
Originally Posted by Sneezy
Or we really do get a President who actually does fight a war for oil. Cripes, Bush I and Bush II each sent huge armies into the Middle East and didn't grab even one oil field for the US. I do remember reading a WashPost columnist who's usually pretty liberal-leaning (E.J. Dionne?) writing during the build up to Gulf War I that it would be really stupid to to spend all that money and effort and not take effective control of some Mideast oil fields.
FWIW, Kuwait will be opening their oilfields to foreign oil companies in the next 5 years or so, but it in probably unrelated for the mot part. Self-interest at best.
I am opposed to the war in general, and always have been, but the part of the war that I most detest is that there wasn't an honest "Ok, we're coming for oil and that's what we'll get". My guesses are that with Bush's buddy's in oil, they are loving what the war did to their market. I won't break out the tin foil hat, but it does seem like it turned out awfully well for them...
Anyway, this is OMNI material, I'd like to get this back on topic. Who will get the credit for getting oil down to $50/bl? Will they get UGS for life?
