I'm afraid he's right. Those bastards can manipulate the price of oil and take all the momentum out of the push for LNG and GTL (gas to liquids). Any thoughts?
(CNN) — Saudi Prince Al-Waleed bin Talal said Sunday that he wants oil prices to drop so that the United States and Europe don’t accelerate efforts to wean themselves off his country’s supply.
In an interview broadcast Sunday on “CNN’s Fareed Zakaria GPS,” the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel.
“We don’t want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives,” said Talal, who is listed by Forbes as the 26th richest man in the world.
Checked the Forbes profile of the Prince, he was listed as an "self-made" billionaire. Wonder how that works? Maybe he found a dime in the sand and started investing?
The article went on to say that the Prince invested in the U.S. because of the stability of this country. The instability in his part of the world is due largely to the way they're set up, the Prince and his family are billionaires, and everyone else is dirt poor.
When he is speaking about the West finding alternatives, he's worried about his standing position in his country. He knows, when the people of Saudi Arabia starts revolting, the price of oil will increase further, pushing our country even more to find alternatives. Maybe he's seen the writing on the wall and is moving his private investments into alternatives in the U.S.A.
I'm sure the Prince would find plenty of buyers for his oil if we stopped using it today, China, India, etc.
Our cat is already got out of the bag, but he's just a barn cat, what we need is a tiger. You can throw rocks at a barn cat and he'll get gone, throw rocks at a tiger and he'll maul you. The coal and oil companies better bring a long stick and a tiger glove if that happens.
Be a lot of folks in the petroleum business lose money if cng ever becomes a common motor vehicle fuel...doesn't China have their own shale? That cng cat will grow into a tiger..
Coal will always be the cheapest source for electricity unless the NG folks convince the lawmakers to regulate coal out of the market...unless it's picking their pockets..
Doesn't look like anyone is looking out for the poor ole American consumer...