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Saudi Arabia predict $200 dollar barrel oil in two years

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posted on May, 28 2009 @ 07:54 AM
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The Saudi Arabia oil cartel can not get over their good luck of 150 dollar barrel in the US that they are finding ways to reach 200 dollars in the next two years.


Saudi Arabia warned oil prices could spike to beyond the near $150 record high of 2008 within two to three years, as energy leaders on Monday decried a blow to investment in expanding capacity due to the financial crisis.

Energy ministers and officials at the Group of Eight energy summit in Rome are meeting as oil prices hover at a six-month high of over $60 a barrel, but below the $75 a barrel level producers say is needed to spur investment in new production.


If US doesn't find better energy alternatives within that frame we will be parking our big SUVs and ridding bicycles to work.

Because is not way that this nation's economy will be boosting in the next two years.

money.cnn.com...




posted on May, 28 2009 @ 08:08 AM
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With inflation the way it is and the amount of $ the US FED has pumped into the system.. coupled with the fact that countries are lining up to dump the $ as an investment.. $200 dollars in 2 years might be of a similar value to $120 today.

While that might not be too bad for anyone not using the dollar, it could be pretty bad for you.

Where did it all go wrong lol



posted on May, 28 2009 @ 08:27 AM
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This is so funny today in CNBC one of the regulars was walking with the leader of the OPEC and she call their "organization" Cartel, they got angry and told her to never call them that, they told her also that cartel was derogatory to them and a dangerous term.


[edit on 28-5-2009 by marg6043]



posted on May, 28 2009 @ 09:43 AM
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This is good for my country. We have sent a million slaves, I mean workers to the Middle East. They'll keep sending money back home.




posted on May, 28 2009 @ 09:50 AM
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reply to post by eldard
 


That is very true, I did a personal research on how the middle east became very wealthy nations, it seems that is not only the oil but all those millions and then billions of dollars that US government through the years has been funneling to them.

Is very interesting how tax payer money has helped prop nations that never has been friendly to us.



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