Tuesday, June 17, 2008

Should we believe the Saudis will increase oil production

It's amazing to me how newspapers and TV are blindly and faithfully reporting that the Saudis will increase oil production by 200,000 barrels a day.

Even if the totally corrupt Saudi regime is telling the truth, the increase is not enough to matter and won't last. Some good background here.

The Saudis, who are not our friends, are not going to save us.

1 comment:

Dave Reid said...

Yea this belief that oh the Saudi's will sell more oil or that we can drill our way out of this problem is funny. It's called India and China coming online. Every year their use is increasing and if they ever use on a per capita basis the same amount as we do in the US then oil will be much much much higher... We need another solution.