King Abdullah of Saudi Arabia, whose nation is the world's number one oil exporter, called on consumer countries to get used to high prices in comments published on Tuesday.
"Consumer countries have to adapt to the prices and the mechanisms of the market," the king said in an interview published by the Kuwaiti daily Al-Siyassah.
"We have nothing to do with the current sharp increase in crude prices," he said reiterating the Saudi position that speculation, rising demand and the taxation of oil products in consumer countries were to blame.
What a smug little prick! FYI folks, the federal tax on gasoline is 18 cents per gallon. 18 CENTS. That hasn’t changed in a very long time. King Abdullah is basically telling you all to go fuck yourselves if you think you’re going to get lower gas prices.
Now, they’re looking at other ways to keep prices high:
The president of OPEC, Chakib Khelil, said on Tuesday that the oil cartel had concerns that future demand for oil might not be strong enough to justify investment to boost oil production.
"The concern we have is about the security of demand," Khelil, who is also Algeria's energy minister, told delegates at industry event the World Petroleum Congress in Madrid.
He said there were "big uncertainties" about making huge investments in infrastructure to increase output from OPEC member countries, which pump about 40 percent of world oil.
I am telling you people, we need to get off of foreign oil, otherwise we’ll just be dealing with pricks like this who sit around all day long in large palaces that WE PAY FOR.
Taxes were 18 cents per gallon when it was $1.80, so it’s obvious to even Stevie Wonder that this isn’t about taxes. It’s about a runaway global economic disaster that the Saudi’s could give a shit less about.
They don’t want to get prices down because they have seen people get used to these prices. There is literally NO WAY that gas is going to come down to $1.80 ever again unless we reduce demand to a point that there’s literally no way for them to ignore the fact that no one is using their product.
We can do it people, there’s engineers and designers who are smart enough to figure this out. Everyone’s talking about electric cars, which is fine, but there are alternatives out there, we just need to work hard at it.
John McCain spoke recently about a $300 million dollar bounty on battery technology that would help get us off of foriegn oil. Barack Obama spoke about it, but offered nothing tangible in terms of a plan. Obama speaks of raising taxes, while McCain talks about reducing spending.
Obama speaks of “windfall taxes” which you know damned good and well we’re going to all pay for, and asks for hundreds of millions of dollars in earmarks, when McCain has asked for exactly zero dollars in earmarks for many, many years.
Is that the “change we can believe in”?
Travis
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