131 comments on Saudi Arabia Announces They Will Produce More Oil
Comments can no longer be added to this story.
| Show without comments | PDF version
131 comments on Saudi Arabia Announces They Will Produce More Oil
Comments can no longer be added to this story.
| Show without comments | PDF version
Search The Oil Drum with Google
Support The Oil Drum
Recently on TOD:World
TOD:Campfire
- What "Lower Consumption" Means
- Tricking and Treating the Future
- Meeting Energy Decline Part-Way - Potatoes?
TOD:Europe
- The Future of Nuclear Energy: Facts and Fiction - Part IV: Energy from Breeder Reactors and from Fusion?
- The US stimulus and "green jobs"
- EROWI - energy return of water invested
TOD:Canada
- In this house, we obey the laws of thermodynamics!
- The Round-Up: October 24, 2008
- Compressed Air Energy Storage - How viable is it?
TOD:Australia/NZ
- The Bullroarer - Saturday 7th November 2009
- The Bullroarer - Friday 30th October 2009
- Details of Solar Flagships Released
TOD:Net Energy
Blogroll
Energy Sites
- The Coming Global Oil Crisis
- Die Off
- Dry Dipstick
- Energy Bulletin
- From the Wilderness
- Life After the Oil Crash
- Peak Oil Crisis
- Peak Oil News and Message Boards
- Powerswitch
- Rigzone
- Matthew Simmons
- Wolf at the Door
Environment & Sustainability Sites
- The Daily Green
- EcoGeek
- Eco Street
- Green Car Congress
- Green Options
- green.alltop.com
- Gristmill
- RealClimate
- Sustainablog
- Treehugger
- WorldChanging
Blogs
- The Big Picture
- Casaubon's Book
- Cleantech Blog
- Clusterf
k Nation (Jim Kunstler) - The Cost of Energy
- David Strahan
- The Energy Blog
- Entropy Production
- European Tribune
- GraphOilology
- Health After Oil
- jeffvail.net
- Mobjectivist
- Peak Energy (Australia)
- Peak Energy (USA)
- R-Squared
- Resource Insights
Finance & Economics Blogs
- Calculated Risk
- The Crash Course
- Ecological Economics
- Econbrowser
- Environmental Economics
- Infectious Greed
- The Mess That Greenspan Made
- Mish's Global Economic Trend Analysis
Organizations
Peak Oil Primers
Beware email scams!
Beware email scams claiming to be from this site. We do not have any job openings. If anyone contacts you about a job at The Oil Drum, do not reply to them, and definitely do not give them any personal information or send them money. Read more here.
“So one may almost say that the theory of universal suffrage assumes that the Average Citizen is an active, instructed, intelligent ruler of his country. The facts contradict this assumption.”
—James Bryce (1909, 35)
User login
Contact
- Content: editors at theoildrum dot com
- Tech support: support at theoildrum dot com
Personnel
- Editors: Nate Hagens, Gail the Actuary, Prof. Goose
- DrumBeat Editor: Leanan
- Contributors: ace, Engineer-Poet, Heading Out, jeffvail, JoulesBurn, Sam Foucher, Robert Rapier
- TOD:Campfire: Glenn, Jason Bradford
- TOD:Europe: Chris Vernon, Euan Mearns, Francois Cellier, Jerome a Paris, Luís de Sousa, Rembrandt, Rune Likvern, Ugo Bardi
- TOD:Canada: benk, Libelle
- TOD:ANZ: Big Gav, Phil Hart, aeldric
- Emeritus: Stuart Staniford
- Technician: Super G
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.
GAIA Host Collective
Question:
If the Saudi's actually get a barrel of oil down to $100 (even if just by jawboning), and reduce the price of gas by 25% (say, US$3.20 a gallon), wouldn't that increase the use of oil/gas and make it necessary for them and others to eventually pump even more oil over the 10-12 million bpd? Are the Saudi's smart enough to realize this (yes, of course), and if so, what possible pressures are being put on them, or are they putting on themselves, so that they feel led to promise increasing output?
Logically, it doesn't make sense, so there has to be some kind of tangential reasoning going on here. You can only delay the inevitable, unless of course they really do believe there is plenty of oil out there (wherever there is).
Perhaps the Suadis are acutely aware that all around them is an American military force, controlled by a country that does not want to hear that tribute from a troublesome client state is no longer as easy to dig up as it used to be.
The whole exercise this weekend by the Saudis has a whiff of panic about it, attempting to soothe disgruntled customers and divert attention from themselves. It think we will see plenty more of these hurriedly arranged meetings this year and bit by bit MSM might just start to ask better questions each time the meetings fail to deliver anything.