Saudi king urges consumers to get used to high oil prices

[OrangeEmpire]

Saudi king urges consumers to get used to high oil prices

King Abdullah of Saudi Arabia, whose nation is the world's number one oil exporter, called on consumer countries to get used to high prices in comments published on Tuesday.

"Consumer countries have to adapt to the prices and the mechanisms of the market," the king said in an interview published by the Kuwaiti daily Al-Siyassah.
"We have nothing to do with the current sharp increase in crude prices," he said reiterating the Saudi position that speculation, rising demand and the taxation of oil products in consumer countries were to blame. "These countries must reduce their taxes on fuel.. if they want to contribute to easing the burden on ordinary consumers," he said.

How dare he even propose the idea of taking money away from the government!

Thoughts?

[OWB]

Originally Posted by OrangeEmpire

Saudi king urges consumers to get used to high oil prices



How dare he even propose the idea of taking money away from the government!

Thoughts?

Wouldn't that mean a pay cut for you if that happened? How are the State police handling the high gas prices? Anything changing?

[tim]

Wonder how the Saudi king would like eating sand?

[ole_orange]

I FREAKIN read today that gas is 0.40 $ a gallon in Saudi-freakin Arabia!

Am I the only that is pissed off by that?

[KB5252]

Originally Posted by ole_orange

I FREAKIN read today that gas is 0.40 $ a gallon in Saudi-freakin Arabia!

Am I the only that is pissed off by that?

only if you think our government should subsidize oil products.

[Chemvol]

Originally Posted by ole_orange

I FREAKIN read today that gas is 0.40 $ a gallon in Saudi-freakin Arabia!

Am I the only that is pissed off by that?

A standard practice among large oil producing nations. Iran and Venezuela have large gasoline subsidies as well.

[allvol123]

Originally Posted by ole_orange

I FREAKIN read today that gas is 0.40 $ a gallon in Saudi-freakin Arabia!

Am I the only that is pissed off by that?

Go live in Saudi Arabia and see if the $0.40 a gallon gas is worth the lifestyle change.

[Plano Vol]

We missed a golden opportunity to negotiate a long term oil contact at favorable rates when Saddam had brutalized Kuwait and was sniffing ol' Abdullah's butt thinking about his next conquest.

Of course that's all forgotten now

[droski]

i'm not sure eliminating taxes and therefore raising demand for oil is the best way to lower the price.

[SWIL]

Until oil reaches a price that is unacceptable to the American consumer (and we start really creating demand for alternative fuels/energy sources), we're stuck with the high prices.

[Vol Mania 21]

Originally Posted by ole_orange

I FREAKIN read today that gas is 0.40 $ a gallon in Saudi-freakin Arabia!

Am I the only that is pissed off by that?

ah we aren't much more than that. just ten times more, not to bad

[overseasorange2]

Originally Posted by ole_orange

I FREAKIN read today that gas is 0.40 $ a gallon in Saudi-freakin Arabia!

Am I the only that is pissed off by that?

Damn right, that's outrageous. That is 3 times what it cost in Venezuela(0.12/gallon). Those Saudi's should be protesting in the streets over high fuel cost.