Oil leaders' private debate televised by mistake

The Observer, The Guardian (Great Britain) ^ | 18NOV07 | Tim Webb in Riyadh

[familyop]

Saud al-Faisal, the Saudi foreign minister, warned that even the mere mention to journalists of the fact that leaders were discussing the weak dollar would cause the US currency to plummet. Unfortunately his words and those of everyone at the meeting were being broadcast via a live television feed to a group of astonished reporters.

[The Mayor]

Oh boy... : )

[HarleyD]

"...the cartel's third meeting in its 47-year history, had just been broadcast to the world's media for more than half an hour after a technician had mistakenly plugged the TV feed into the wrong socket.

Well, that's a big "OOPS". Look for the technician to be the next target of a suicide bomber.

[NonValueAdded]

Mistake or deliberate “goof”?

[thefactor]

from the article, this really could he hugh and series.

i'm series.

[Enchante]

Did someone bribe the technician to make a “mistake”??

Iran and Venezuela want to weaken the dollar more for their own political reasons.

Of course, our own Fed apparently thinks the weak dollar is a great thing.....

[silentreignofheroes]

Delibrate—1

Mistake——0

[TaMoDee]

Nope! He’s having both hands removed at “Head Chopper’s Square” in downtown Riyiad after prayers at the big mosque.
Called the Friday noon specticular.

[Harmless Teddy Bear]

Mistake or deliberate “goof”?

Accidentally on purpose

[BykrBayb]

Our dear friends wouldn’t have done that on purpose. No. Of course not!

[givemELL]

Was this as dramatic or noticed as much as Jimmy Rogers all last week on Bloomberg tv telling the world to get out of dollars NOW!..Whole world IS. They will believe Rogers over an Arab conference. He has obviously shorted the dollar...bet Soros, his former partner, who is of great influence in the Dem party (he owns it like the character in Braveheart from Ireland owning Ireland)has also shorted the dollar.

[norton]

Almost sounds like a good thing:

(If) weaker dollar means higher oil price, and
EU and others have made a sport of assailing the US dollar, then
do they want higher oil prices or some phony prestige they know they cannot back up ?

(Venezuela not included in any rational thinking exercise)

[maine-iac7]

Mistake or deliberate “goof”?

By George, I think you've nailed it.

IOW, how to undercut the U.S. and then pretend: "Oopsie"

[Moonman62]

Of course, our own Fed apparently thinks the weak dollar is a great thing.....

It's our president who likes it, not the Fed. What do you think the W stands for?

[theBuckwheat]

The problem isn’t a particular value of the USD in relation to other currencies, it is the rate of change. Over time, exchange rates will fairly represent purchasing power parity, especially in commodities such as oil, if only because of the ease in shipping from where the price is low to where it is high enough to cover shipping costs and then some.

Another reason the Saudi’s should be worried about an ever-higher dollar price for oil: the US has more hydrocarbons in the form of oil shales and coal than all of Arab OPEC put together. The higher the market price, the easier and quicker conversion projects will be proposed, approved and financed.

see US DOD presentation in PDF at:
http://www1.eere.energy.gov/femp/energy_expo/2005/pdfs/t_s4c.pdf

Also: Discovery Magazine article, Anything to Oil:
http://discovermagazine.com/2006/apr/anything-oil

[G8 Diplomat]

Saudi screw-up....

Or was it deliberate?

[pepsionice]

The truth behind the curtain...is that the US is finally selling American-made cars in Europe right now. We are selling alot of different American-made products because its so cheap to buy dollars. We’ve made European products so expensive...that US-made products can now readily compete within the US. If you were German...you’d be upset with this game. Plus you have Europeans coming to the US on vacations at the highest rate in years...because of the cheap dollar.

The oil mafia hates this because they only get paid in dollars for oil. So the European countries really are enjoying “cheap” gas at this point in time...one of the few luxury things from this whole game. So Saudi Arabia and the rest of the oil mafia are holding lots of dollars...which aren’t very usable unless...you intend to spend them in the US. Trying to spend them in Europe...buying the Euro...is a joke...you lose. So the US has forced the oil mafia into a funnel which leads primarily back to the US...to spend. US companies benefit again.

The only US citizens hurt in this game...are the international speculation players on the market, and the US citizens who live and work overseas (contractors for DOD for example). But these folks are small in numbers...so this scheme is helping the US in the long run.

Is there a point where the oil mafia says dump the dollar and go to the Euro? Yes...which we probably aren’t that far from. This was intentional at the conference to let the US know they are thinking about this. The US...I’m guessing....doesn’t care. They’d like to play this game a bit in this direction.

As quickly as they dump dollars...it will drive the dollar down even more...making it even more attractive to buy US products. As for the price of buy oil...it will skyrocket for us in the states...no doubt...but I think Bush is waiting for that moment to really busy alternate fuels and get us off the oil mafia. It may not be a public policy...but it appears to the direction of the country. So prepare for $5 a gallon for gas...and get set to get into the alternate fuels market. The good news? The Saudis will not be in our backyard anymore.

[SatinDoll]

This whole weaker dollar situation can be blown away by POTUS issuing an executive order to drill on the continental shelves of the lower 48 states and on the North slope of Alaska. He isn’t running for President again, so he won’t have to worry about such things as popularity (his is pretty much in the toilet anyway).

Now, can he do that?

[VxH]

>>The only US citizens hurt in this game...

Easy for you to say from Germany. Increases Food prices and gas are going to affect many people here in the USA - especially those on fixed incomes.

[VxH]

[Sometimes, such innocent mistakes can have far-reaching economic and political consequences.]

 

Yeah, telling people the truth can be so, bothersome.

 

What's implicit in this is that lying to the public and hiding the truth is considered quite acceptable, probably normal.

 

Can't have the sheeple thinking for themselves noooooo!  The Baal builders know best.  Now bow down, worship the Golden Calf, and stop peeking behind the curtain.