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Saudi Arabia calls for oil summit

Tuesday 10th June, 05:16 AM JST

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8 Comments

  • some14some at 07:49 AM JST - 10th June

    “There is no justification for the current rise in prices,” he said.

    Therefore, it is for the Financial Ministers of G-8 to discuss this matter. Increase in supply by OPEC will make no difference when 'hot' funds are there to burn it up.

  • adaydream at 12:11 PM JST - 10th June

    They nmight be increasing their output, but they are also going to talk about the detriment of the market price increases being not justified, based on what it's being sold by SA. Before it gets to us, the price is increased exponentially. < :-)

  • skipthesong at 01:04 PM JST - 10th June

    $2.00 a barrell it costs them. Man, I am somewhat in the right business.

  • DXXJP at 05:51 PM JST - 10th June

    It doesn't cost any more to get it out the ground than it did 5 years ago. So who is pushing the price. Maybe the suits in wall street need a beating.

  • skipthesong at 07:07 PM JST - 10th June

    Maybe the suits in wall street need a beating." No, that is not how it works. Its not their fault either. We too have our hands tied.

  • Taka313 at 10:15 PM JST - 10th June

    Skip, (please know this is typed with tongue in cheek)

    Its not their fault either. We too have our hands tied.

    Yet the blame pointing finger still roams free.

    Taka

  • rajakumar at 11:10 PM JST - 10th June

    Pushing crude oil prices, will lead to alternative energy fast attack. OPEC/Other nations in crude oil business, going to be sorry, in the long run.

    The energy high prices and monopoly abuse greed, of crude oil titans/workers, will get their fast revenge attack by alternative energy industry, in soon coming future.

  • Madverts at 12:12 AM JST - 11th June

    The arabs have taken the piss out of us long enough.

    It's time to find an alternative energy source immdiately, and let them drown in their oil.

    Or at least present an invasion in an honest manner, un-like the distarous last one, so that I won't feel guilty filling up my gas-guzzling turbo motor.

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