Saudi Arabia to boost Oil Production to combat development of Alternative Energy

[conley]

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, according to Ban's spokesman. CNNMoney.com reports that Saudi Arabia is concerned high oil prices will eventually dampen the world's appetite for oil.

i have mixed feelings about this...our country's energy policy reminds me of heroin addict 

[Gunit Hussein Sangh]

So much for the supply & demand arguement to explain the rising cost of oil. Supplies are increasing and so are the prices.

That leaves the weak dollar, commodity traders and greedy corporations as the reasons.

[Mr. Dirlewanger]

So much for the supply & demand arguement to explain the rising cost of oil. Supplies are increasing and so are the prices.

That leaves the weak dollar, commodity traders and greedy corporations as the reasons.

Saudi Arabia plans to increase its oil production by 200,000 barrels a day next month

 

[pittypat65]

Maybe if we start drilling it will really put the scare in them. Be nice if we could tell them to take a hike. 

[Gunit Hussein Sangh]

The US only has 3% of the world's oil reserves. We could open up the Florida coast, ANWR, and every national park we have to drilling and it would have a neglible impact on prices.

What concerns them is with gas this high, innovation will make their only resource obsolete.
 

[Vermouth]

How many barrels of oil are used daily worldwide?

[conley]

not sure about how old this is

Currently, the United States consumes 19.6 million barrels per day, of oil, which is more than 25% of the world's total.

According to the EIA, the United States has 21 billion barrels of proved oil reserves as of January 1, 2000.  The U.S. uses about 6.6 billion barrels per year.  That is only enough oil to last the U.S. about three and a half years without importing oil from other countries.

http://maps.unomaha.edu/Peterson/funda/Sidebar/OilConsumption.html

the increased production doesn't seem like much

[Gunit Hussein Sangh]

gosh Conley ... you beat me to the punch. The IEA was the resource I was gonna use also.

http://www.eia.doe.gov/oiaf/ieo/oil.html

But ... hey ... don't let facts get in the way of idealogy. Drilling is good in the eyes of conservatives. Any solution not involving drilling has to be wrong, cuz that's the way they've always believed and changing their opinion is hhhhhaaaaaaaaarrrrrrdddddd work.

[bored]

As a hypothetical, Let's say the US drop our daily oil consumption by 50% due to any alternative energy. Any predictions as to what would happen to the mid east?

[conley]

As a hypothetical, Let's say the US drop our daily oil consumption by 50% due to any alternative energy. Any predictions as to what would happen to the mid east?

yes, you would see 10 year wars like the one between iraq and iran...only they would be x 1000

as i think more about the middle east, i wonder how we would handle the israel problem if we didnt need to have an ally in the region. honestly, there's only so much our country can do for them, and at some point they need to be able to fend for themselves. i have no problem with that.

[Hibbidy Ha]

Same here.  Quit buying their friggen oil.  And quit sending our friggen troops over there.  Cut all ties and let them play it out.
Frig.

[jkoffan]

Regarding Israel, the United States continues to support it
because of the American Jewish Federation, the 4th most
powerful lobby in our country.
A few days ago, I met an Egyptian visiting the United States
and our conversation began on Iraq.
His view on why the United  States is in Iraq was because of
Israel and oil which I had to agree with him.

[Vermouth]

Bored, what does your caption mean?

[trex]

That is thier worst fear.....we develop alternative energy thier economy is done.....

Do you think terrorism would increase or decrease after that happens.....

Its about dollars.....not the environment.......

I agree let them fight it out but soon they will using nukes then what? We will have to clean up that mess too.. The world will look to us to fix it like they always do....but most would say let them work it out....How about we try to prevent it.

It is believed that Iran has functional nukes and they do not want to bargain to reduce or eliminate them.

[conley]

Bored, what does your caption mean?

it looks vietnamese?