UN chief: Saudi to boost oil production (again)

AP/Yahoo ^ | 6-15-08

[STARWISE]

Saudi Arabia plans to increase its oil production by 200,000 barrels a day next month, the kingdom's oil minister told U.N. chief Ban Ki-moon on Sunday, according to Ban's spokesman.

The U.N. secretary-general met with Oil Minister Ali al-Naimi in the port city of Jiddah during a one-day trip to the world's largest oil producer.

Farhan Haq, a spokesman who is traveling with Ban, said in an e-mail that the U.N. chief said al-Naimi told him Saudi Arabia would increase oil production by 200,000 barrels a day from June to July. In May, the kingdom increased its production by 300,000.

By July, production should be at 9.7 million barrels a day, Haq said.

Ban also said Saudi Arabia understands that the current price of oil, which topped $139 per barrel earlier this month, is not normal, according to the official Saudi Press Agency.

"The king believes that the current oil prices are abnormally high, and he is ready to restore prices to their appropriate levels," SPA quoted Ban as telling reporters in Jiddah.

[STARWISE]

"The king believes that the current oil prices are abnormally high, and he is ready to restore prices to their appropriate levels...."

[EagleUSA]

“The king believes that the current oil prices are abnormally high, and he is ready to restore prices to their appropriate levels....”
::::::
Sounds like the normal tripe from a politician. I wonder what “appropriate levels” means?

[RightWhale]

This is not much of an increase. Perhaps it is the best they can do.

[antivenom]

The increase will all go to China...their infrastructure was decimated...and they will use lots and lots of petroleum based products for heavy machinery to move toppled buildings....they will use diesel for generators since the hydroelectric sources have been destroyed. DON'T kid yourselves...the increase is spoken for, by CHINA!

[peeps36]

Why don’t we increase our own production so we’re not at the mercy of people who don’t like us? I believe someone is paying our politicians to keep American oil in the ground. Maybe that will change when the bribes to drill are worth more than the bribes not to drill. Stupidity alone can’t explain all of the ridiculous decisions the politicians make.

[NewJerseyJoe]

As crazy as it may sound.... I have long suspected that some in the anti-drilling, enviro-weenie crowd are in cahoots, at some level, with OPEC. Every time there is a marginal increase in OPEC production, it gives the anti-drillers more leeway to say "See, we don't need to drill [ANWR/GOM/continental shelf/Colorado/etc.], the Saudis will take care of us."

Okay, maybe that's crazy. But there have been stranger bedfellows in history.

[RightWhale]

USA domestic production is 12 million bpd low, that is how much is imported. Go ahead, increase domestic production from 8 million bpd to 11 million bpd. It will be very expensive and still be 9 million bpd short.

[Eric Blair 2084]

I have a better idea:

How about we drill for our own oil? Tomorrow. The environmental extremists and the Saudi’s like to play games.

See if they like this game. Wheel of Fortune.

Would they like to buy a vowel?

L_ck My H__ry B__nb_g.

“phrase”

[marajade]

The Dems (Obama) are on the wrong side of this. The US public wants us to start drilling.

[kabar]

John McCain has voted repeatedly against drilling in ANWAR and in most offshore locations. Obama and McCain are not the best choices to solve this problem. Unlike Obama, McCain does favor building more nuclear plants, but that will take about 10 years to realize any power, even if we started tomorrow.

[marajade]

McCain ought to get with the program. Drilling is the answer and the public will want it.

[needtowakeup]

Read an article the other day indicating that since the oil shortage in the 80’s, US production has declined by 20% and US consumption has increased by 30%. Wrong direction here.

I recall mandatory 55 mph max nationwide. I have decided to reduce my own consumption when I can. By driving 55 instead of 70 I am saving 20% on my consumption. And, planning ahead, I am arriving not nearly as stressed.

[AnotherUnixGeek]

This is not much of an increase. Perhaps it is the best they can do.

If only we were doing the best we could do - instead we've set ANWR and offshore drilling off-limits for no good reason.

[Right Wing Assault]

I saw in another article that the Saudis want Europe to cut taxes. That should be fun.

[wendy1946]

This is the one issue which could save McCain and the republicans this fall.

[STARWISE]

DRILL HERE, DRILL ... N O W !! SIGN AND PASS ON

http://www.americansolutions.com/actioncenter/petitions/?Guid=54ec6e43-75a8-445b-aa7b-346a1e096659

[Otho]

Is the extra Saudi oil the light kind that everybody wants or is it the heavy, high-sulfur crude that’s harder to refine?

[VeniVidiVici]

I recall mandatory 55 mph max nationwide. I have decided to reduce my own consumption when I can. By driving 55 instead of 70 I am saving 20% on my consumption. And, planning ahead, I am arriving not nearly as stressed.

The difference is you're doing it voluntarily as opposed to being ordered to do so by the government in the name of "conservation". Same thing as setting your thermostat to 78. You wanna do it? Have at it.

[jackv]

Huh???
Wasn’t it just a week or so ago he was telling Bush “no”?

[RightWhale]

Population of the US is also up that much. Headed for a billion.