King Abdullah and the Oil Mafia
Was I hearing things or did I see a clip of Saudi Arabia's King Abdullah telling the world, particularly the United States that we need to better control our oil consumption?
Is he serious? That seems a bit like a crack dealer trying to tell a user that he wants to help him learn how to quit smoking crack but he needs to smoke less crack in the first place. The solution of course, when using this flawed logic, is to produce and sell more crack.
How is this even a sensible discussion much less a part of a sensible solution? The more I hear different political figures from all over the world trying to solve this oil problem the more I begin to feel that I am being hustled from all sides.
This weekend the King of crack…oops I mean oil producers; King Abdullah held a meeting with the other dealers to figure out how they could help us with our crack… I mean oil problems. In other words, this was a meeting to see what they can do to make less money. (Do we all see how ridiculous this all is)
To make this even more ridiculous, where we are in terms of popularity in the world view, particularly with the major oil producing nations, makes it even less likely that any nation that produces oil will truly want to help.
The summit that was help by King Abdullah only produced one nation that has agreed to step up oil production ever so slightly, the king’s own country of Saudi Arabia.
Am I the only one that feels like the king is simply going through the motions with no sincerity? Then this person has the nerve to start to tell us that the real problem is that we use too much of the product he sells and that’s why the price is so high. To top off his nonsense he passed some of the blame off to speculators because of how they invest. (Economists have publicly disagreed with this statement)
It seems that everyone in oil right now is making a fortune at record levels and yet blaming the high prices on someone else. How do these people keep raising prices, making record profits in our faces, and yet telling us there is no connection the problem with the price has to do with something or someone else?
The truth of the matter is that unless our relations with major oil producing nations (or should I say oil cartels or possibly oil mafia) changes dramatically heavy dependence on oil products is one of the most foolish things that happen to us.
Comments
I wrote an article on our dependence on oil last week. We have all the answers, but the government's addiction to oil tax revenues gives them all kinds of incentive to bury the technology that has been available since the 70's to convert water to fuel on the fly. Meaning you can fill your gas tank with water and drive over a thousand miles before filling up again. No risk of explosion, no compressed gas cylinders. Even if we did stay on the oil system, there is no excuse for relying on foreign oil. The wells that were supposedly pumped dry are wet again which means it doesn't take a million years for those natural processes to build up and refill those underground lakes of crude oil. It only takes a few decades. This is one of the two or three conspiracies I believe in. I believe because last year Exxon reports showed that in the first quarter, they paid taxes to the government that equate to half of the entire personal income tax revenue for the year. They fear government would fall apart, they couldn't pay for the welfare programs, the education programs, the military, much less all those pork barrel projects Jumpin' Jack Murtha keeps bringing home every year.