Saudi King: Get used to price of oil

Plainly put. Tells the rest of the world "If you don't like it, have your country reduce your tax on fuel, otherwise get used to it" while giving us all the bird.

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.

Source: www.foxnews.com... which references this site www.africasia.com...

Another inflammatory post that totally ignores what was being said. I am no fan of Saudi royalty, but he is right that the lion's share of oil price is taxation. And we still have the speculators and in the case of the US you have bush buying for the national reserve.

I pay 60% tax at the pump here in europe, if anyone could give me immediate relief it would be the state, but they are too in debt to the banks because of various terms of corrupt politicians overextending the national budget into deficit spending.

It's not just the saudis, everyone from the desert sands to the pump is taking more than their fair share.

The solution is to get off oil, the technology to do so is mature and should be made available at mass market costs.

you know what the media wont tell you?

that there is plenty of oil but no one can afford it because the value dollar has fallen to used toilet paper levels.


oil cost the same it did 5 years ago. your DOLLARS are worth LESS.

now why wont the media tell you this?

because they know youll be p@@@@d when you find out who destroyed the dollar.

The King is just telling the truth, at least from the perspective of Saudi Arabia.

It's their oil and they don't have to do anything with it.

I've been convinced for some time that supply is not the problem, at least not a significant problem.

The Democrats don't believe that this is a supply problem, because if they did, we'd be drilling every available oil field on US territory.

Sometimes the truth hurts, I guess.

We have no choice but to get used to it.

This is the future.

reply to post by GradyPhilpott


Grady, is there more to the truth?

For those that haven't seen Lindsey Williams version of the truth, it's worth a look. I can't say for sure that he is telling the truth, and he is selling a book, but I like to keep an open mind to what the real truth may be.

Part 1/8