Bush begs SA and OPEC for oil

[GrGr]

RIYADH, Saudi Arabia
NY Times

President Bush on Tuesday urged Saudi Arabia and other members of OPEC to consider the strain the high cost of oil was having on the American economy, addressing an issue that has begun to color the last year of his presidency and dominate the presidential election campaign.

Speaking to a group of Saudi entrepreneurs and later to reporters, Mr. Bush expressed concern about the economy in some of his starkest language yet, saying that rising oil costs and gasoline prices were causing hardship for American families. He vowed to raise the issue with the Saudi leader, King Abdullah, during a meeting and dinner at the king?s lush horse farm in the desert outside of Riyadh, the capital.

?My point to His Majesty is going to be, when consumers have less purchasing power because of high prices of gasoline ? in other words, when it affects their families, it could cause this economy to slow down,? the president said in an expansive interview summarizing his eight-day trip to the Middle East. ?If the economy slows down, there will be less barrels of oil purchased.?

It was unclear whether Mr. Bush?s entreaties alone would have any significant effect on the price of oil, because, as the president acknowledged, demand continues to rise faster than supplies, especially in expanding markets in China and India, as well as the United States.

etc.

-----------------------------

Bush is literally begging the oil producers to pamper America, the world's sole superpower, now...

HAHAHA, omg Bush is going to kill me one of these days. Please suspend the elections this guy is too hilarious not to be allowed to be President for life.

 

[shiner]

What the fuck is their country doing on top of our oil?

 

[Ozoned]

Originally posted by: shinerburke
What the fuck is their country doing on top of our oil?

What do you suppose the public would demand if our unemployment rates were around 30%. Would it be begging?

 

[TastesLikeChicken]

Begging? Sounded more like a threat to me.

The Saudis and OPEC don't control the price of oil though. That's determined by the market so he's pissing into the wind.

 

[ericlp]

Personally I think we should go out there and bomb the crap out of em and go get OUR oil....

Begging? Sounded like a frigen moron to me. rising oil costs and gasoline prices were causing hardship for American families What a tool! Speak for himself! I am sure that if we can't buy it china and the rest of the world will pick up the slack.

Sigh.... What a dope.

 

[randym431]

I don't mind him going over there.
Its all that hugging and kissing and hand holding with those bearded men in dresses.
Talk about a Gay weekend getaway... :shocked::Q

 

[StageLeft]

Originally posted by: TastesLikeChicken
Begging? Sounded more like a threat to me.

The Saudis and OPEC don't control the price of oil though. That's determined by the market so he's pissing into the wind.

You actually buy that line? They are part of the market. They deal with supply, we deal with demand. That is the market and they make up half of it. If they cut their production down to 30,000 barrels/day, you don't think oil would suddenly cost more?

Anyway, there is something patently pathetic about the richest country in the world, known overconsumers, begging saudi to unleash a few more barrels so that they can keep driving their SUVs, isn't there?

 

[smashp]

Maybe he was actually filling out a Job application with the House of Saud....... you know like Daddy

 

[1EZduzit]

Originally posted by: randym431
I don't mind him going over there.
Its all that hugging and kissing and hand holding with those bearded men in dresses.
Talk about a Gay weekend getaway... :shocked::Q

He looked pretty funny holding that sword in one hand with his other arm around the King and both of them "swaying to the music".

He's going back in May.

Georgie Porgie pudding and pie,
Kissed the girls and made them cry
When the boys came out to play,
Georgie Porgie ran away.

 

[kage69]

You actually buy that line? They are part of the market. They deal with supply, we deal with demand. That is the market and they make up half of it. If they cut their production down to 30,000 barrels/day, you don't think oil would suddenly cost more?

Exactly. I've heard the line "the Saudis don't set the price of crude!" a lot lately, it's like all of a sudden people are ignorant of the relationship between supply and demand, primarily the role of those who control the means of supply. The Saudis have scaled back production in order to keep prices where they want them (450k barrels a day last time I checked). To say they have no effect on the pricing of their product is ridiculous.

Begging? Sounded more like a threat to me.

A threat? You're kidding, right? Until we end our addiction to what they have, we can't threaten them worth shit and you know it. Unless, sacrificing American lives and money for their protection, along with gifting them in billions of military aid is somehow threatening as well. We no longer live in a time where, economically, if the US got a cold, the rest of the world got the flu. The Saudis know this, so Bush's citing of 1980s-like economic aftershocks are far less foreboding than he would like.

'Pleading' would be more accurate than 'begging,' in this case IMO. To categorize this as "threatening" smacks of window-dressing; an attempt to help ol W save whatever face he has left.

Regardless, this "stark" language of his was to Saudi entrepreneurs and reporters, so it's basically irrelevant. Bush's "threatening" run down on American economics to the King hasn't occurred yet.

 

[CADsortaGUY]

Oh look, someone got the memo about pushing the "begging" line. :roll: go figure...

Let me get this straight - when Bush goes over there and talks with them it's "begging" but if he hadn't gone over and talked he'd be doing "nothing about oil".

I swear you people have no shame with your catch-22 "gotcha"s.

 

[GrGr]

Originally posted by: CADsortaGUY
Oh look, someone got the memo about pushing the "begging" line. :roll: go figure...

Let me get this straight - when Bush goes over there and talks with them it's "begging" but if he hadn't gone over and talked he'd be doing "nothing about oil".

I swear you people have no shame with your catch-22 "gotcha"s.

Well he could always change policy :roll:

 

[Vette73]

How about instead of giving more breaks to oil companies we invest in more solar, nuclear, wind, etc... These items don't pop up over night. If oil keeps going higher and higher we will only limit ourselves.

 

[CADsortaGUY]

Originally posted by: GrGr

Originally posted by: CADsortaGUY
Oh look, someone got the memo about pushing the "begging" line. :roll: go figure...

Let me get this straight - when Bush goes over there and talks with them it's "begging" but if he hadn't gone over and talked he'd be doing "nothing about oil".

I swear you people have no shame with your catch-22 "gotcha"s.

Well he could always change policy :roll:

Unilaterally change policy? Isn't that a bit Cowboyish?

 

[Pabster]

Funny how the left-wing nutjobs are all parroting the "begging" phrase.

Must have gotten your morning talking points and marching orders from Team Clinton...eh? :laugh:

 

[GrGr]

hehehe, you guys are paying more attention to Clinton (ofc you have to mention Clinton) than I do I guess from your behaviour her campaign used the word 'beg' too. At least it looks like she calls it like it is this time

 

[Pabster]

Originally posted by: GrGr
hehehe, you guys are paying more attention to Clinton (ofc you have to mention Clinton) than I do I guess from your behaviour her campaign used the word 'beg' too. At least it looks like she calls it like it is this time

Of course, you thought that term up on your own. :roll:

What is hilarious is that the same moonbats who constantly criticize Bush for being "in bed" with Saudi Arabia are now telling us he is "begging". You can't have it both ways...

 

[GrGr]

Originally posted by: Pabster

Originally posted by: GrGr
hehehe, you guys are paying more attention to Clinton (ofc you have to mention Clinton) than I do I guess from your behaviour her campaign used the word 'beg' too. At least it looks like she calls it like it is this time

Of course, you thought that term up on your own. :roll:

What is hilarious is that the same moonbats who constantly criticize Bush for being "in bed" with Saudi Arabia are now telling us he is "begging". You can't have it both ways...

Sure his 'rating' is being 'downgraded'. I thought that was obvious :roll: Even Israel is giving him the finger now after all. I strongly suggest he is given the old heave ho before he makes matters worse. Can't believe this tool has his finger on the button.

 

[TastesLikeChicken]

Originally posted by: Skoorb

Originally posted by: TastesLikeChicken
Begging? Sounded more like a threat to me.

The Saudis and OPEC don't control the price of oil though. That's determined by the market so he's pissing into the wind.

You actually buy that line? They are part of the market. They deal with supply, we deal with demand. That is the market and they make up half of it. If they cut their production down to 30,000 barrels/day, you don't think oil would suddenly cost more?

Anyway, there is something patently pathetic about the richest country in the world, known overconsumers, begging saudi to unleash a few more barrels so that they can keep driving their SUVs, isn't there?

Part of the market is managing production to extract maximum value from your product. I guess the Saudis could cut production down to 30,000 barrels a day if they wanted to. They'd be slitting their own economic throat in the process though.

OPEC and the Saudis can set their production quotas. They can even boost production like they did in September (over 500,000 barrels a day increase) but there are other market forces and influences at play that affect price far more including speculators, large funds buying into oil as an investment, geopolitical concerns, and the big increase in demand from places like China and India. The production increase in September didn't even make a dent in oil prices. So the Saudis and OPEC don't have nearly as much influence in that arena as you seem to give them credit for.

 

[nageov3t]

as far as I know, don't current oil prices have more to do with stock market speculation by traders and less to do with opec itself?

 

[child of wonder]

Hilarious. Like some Saudi oil tycoon is going to listen to Bush's pleas, leap back in aghast, and say "high gas prices are hurting American families?!?! I had no idea!!! Mahmoud!! Quickly!!! Today I vow to stop buying a new luxury car each day and then throwing it away the next morning! I will no longer wipe my ass with $100 bills!!! I will no longer drink the tears of hungry children!!! This atrocity must stop!!!!!!!"

Instead he'll just behead another rape victim, send a few billion to terrorist organizations, and line a few politicians pockets to ensure the US is ALWAYS dependent on his oil until the ground finally runs dry.

And what will America do? Will it rise up and take whatever steps are necessary to shed this bloated tick sucking its neck?

No, it will tune in to American Idol each night, worry about the next thing Britney Spears is doing, cower in fear over the very terrorists their disposable, "gimme right now!" society funds, and partake whatever distractions offered so they don't have to think about it and do any real work to change anything.

 

[amdfansftw]

Originally posted by: loki8481
as far as I know, don't current oil prices have more to do with stock market speculation by traders and less to do with opec itself?

very much so. if OPEC did set the price or had the affect you people seem to think they have we would be getting raped out the ass for oil prices.

 

[tidehigh]

Originally posted by: Skoorb

Originally posted by: TastesLikeChicken
Begging? Sounded more like a threat to me.

The Saudis and OPEC don't control the price of oil though. That's determined by the market so he's pissing into the wind.

You actually buy that line? They are part of the market. They deal with supply, we deal with demand. That is the market and they make up half of it. If they cut their production down to 30,000 barrels/day, you don't think oil would suddenly cost more?

Anyway, there is something patently pathetic about the richest country in the world, known overconsumers, begging saudi to unleash a few more barrels so that they can keep driving their Humvees isn't there?

fixed

 

[jjanders]

Originally posted by: child of wonder
Hilarious. Like some Saudi oil tycoon is going to listen to Bush's pleas, leap back in aghast, and say "high gas prices are hurting American families?!?! I had no idea!!! Mahmoud!! Quickly!!! Today I vow to stop buying a new luxury car each day and then throwing it away the next morning! I will no longer wipe my ass with $100 bills!!! I will no longer drink the tears of hungry children!!! This atrocity must stop!!!!!!!"

Instead he'll just behead another rape victim, send a few billion to terrorist organizations, and line a few politicians pockets to ensure the US is ALWAYS dependent on his oil until the ground finally runs dry.

And what will America do? Will it rise up and take whatever steps are necessary to shed this bloated tick sucking its neck?

No, it will tune in to American Idol each night, worry about the next thing Britney Spears is doing, cower in fear over the very terrorists their disposable, "gimme right now!" society funds, and partake whatever distractions offered so they don't have to think about it and do any real work to change anything.

x2

 

[StageLeft]

Originally posted by: amdfansftw

Originally posted by: loki8481
as far as I know, don't current oil prices have more to do with stock market speculation by traders and less to do with opec itself?

very much so. if OPEC did set the price or had the affect you people seem to think they have we would be getting raped out the ass for oil prices.

No we wouldn't, because OPEC is not the only seller of oil. We can look to Russia, Canada and others. OPEC can price themselves out of the market. If they went to 30k barrels/day, we'd see oil prices go sky high but also a massive increase in supply coming from the other countries that would trip over themselves to increase production. Saudi represents one part of opec and opec is just one part of it all, but they obviously CAN affect (not control, but influence) prices, since they do precisely that when they hold the OPEC meetings. They have certain price points they pretend they want to see oil at and increase/decrease production to manipulate it. This is not a secret, it's publically part of their statements on oil production.

child of wonder I like your rant, but you forgot to add that after AI they can watch some breaking news of an attack by Iran on a US boat after which they'll whoop and holler like hungry dogs, ever so eager to see the might of the US military FINALLY have an opponent to fight, because face it, a lot of people in this country love a good fight as long as they can watch it on tv.

Oil below $90 on surprise supply increase