Last week the Saudis called a meeting of oil producers and consumers at Jiddah on the Red Sea for June 22. The immediate reason for the call was a one-day jump of $11 in the price of oil to a new high of nearly $140 a barrel. This increase was […]
Tag: saudis
The Peak Oil Crisis: Decision at Abu Dhabi
For those of you who came in late, it might be useful to recall that 35 years ago marginal world oil production (and therefore prices) was controlled by the Texas Railroad Commission. In those days, most oil production in the U.S. was hauled off by trains so by mandating how […]
The Peak Oil Crisis: The Next 9/11
How ironic that what could turn out to be the seminal OPEC meeting of all time should be scheduled for September 11. Depending on the outcome, the oil age might continue merrily along for another few years or might undergo radical change before the year is out. Let’s review the […]
The Peak Oil Crisis: Situations To Watch
Evidence is mounting that oil prices will soon climb to new, perhaps unaffordable for many, highs. Some think “soon” is three, four, or five years away. Others think “soon” may be as close as three, four, five, or six months. It is this latter scenario in which oil and gasoline […]
The Peak Oil Crisis: The Saudi Op-Ed
On November 29, the Washington Post carried an op-ed by Nawaf Obaid, an advisor to the Saudi government. Despite the obligatory “the opinions expressed are his own”, and a press release denying government involvement, the piece clearly carries an important message from Saudi King Abdullah to President Bush, Washington, and […]
