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Saudi Arabia Will Not Let Oil Go Above $100: Prince

drudge -- But Saudi Arabia has already said it will not let the price of oil, which closed Monday around $97 a barrel, go above $100, bin Talal said.

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Submitted Feb 06, 2012 By: jbob357

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DrCashFlow Champion Author Massachusetts Posts:5,276 Points:1,270,200 Joined:Jun 2008	Message Posted: Feb 7, 2012 11:20:47 PM Ignore DrCashFlow Report Abuse Fear of losing their biggest customer as alternatives start to make some small inroads. Longer term, natural gas supply will change the world energy power dynamic to the core
chuckwthompson Champion Author Charlotte Posts:1,870 Points:213,535 Joined:Sep 2011	Message Posted: Feb 7, 2012 11:16:17 PM Ignore chuckwthompson Report Abuse Who are you kidding? Are you on drugs?
ObieDog All-Star Author Maryland Posts:971 Points:525,420 Joined:Sep 2010	Message Posted: Feb 7, 2012 1:40:39 PM Ignore ObieDog Report Abuse Nice theory.
ziyulu Champion Author Oklahoma City Posts:6,647 Points:1,263,525 Joined:Aug 2007	Message Posted: Feb 7, 2012 9:37:15 AM Ignore ziyulu Report Abuse Yes, they will not let the price of oil go above $100, they will let it go above $200.
db60 All-Star Author Indiana Posts:982 Points:211,255 Joined:Oct 2011	Message Posted: Feb 7, 2012 8:20:39 AM Ignore db60 Report Abuse As long as they keep production up to the maximum, but they do not control the price.
crestliner95 Veteran Author Illinois Posts:293 Points:111,905 Joined:May 2011	Message Posted: Feb 7, 2012 7:59:53 AM Ignore crestliner95 Report Abuse Like it will happen.
Dr Gas Champion Author Twin Cities Posts:2,643 Points:315,025 Joined:May 2004	Message Posted: Feb 7, 2012 7:20:43 AM Ignore Dr Gas Report Abuse Yea, like he has ANY CONTROL over prices! But go ahead and keep production high, it might help! [Edited by: Dr Gas at 2/7/2012 10:20:58 AM EST]
mossimo36 All-Star Author St. Louis Posts:629 Points:132,750 Joined:Sep 2011	Message Posted: Feb 7, 2012 6:38:57 AM Ignore mossimo36 Report Abuse ok
MontanaMac Champion Author Washington Posts:1,068 Points:275,975 Joined:May 2011	Message Posted: Feb 7, 2012 6:08:24 AM Ignore MontanaMac Report Abuse As if they have the slack production capacity and political will to really control it.
DanMtz Champion Author Oakland Posts:1,517 Points:879,550 Joined:Oct 2009	Message Posted: Feb 7, 2012 6:08:16 AM Ignore DanMtz Report Abuse The sentiment is appreciated, but they can only do so much.
SycamoreISU Sophomore Author Indiana Posts:165 Points:38,390 Joined:Jan 2012	Message Posted: Feb 7, 2012 5:35:21 AM Ignore SycamoreISU Report Abuse We shall see . . . .
Cakes77 Champion Author Harrisburg Posts:3,477 Points:1,328,255 Joined:Aug 2006	Message Posted: Feb 7, 2012 5:00:46 AM Ignore Cakes77 Report Abuse Good for them.
FPLREP Champion Author Virginia Posts:6,359 Points:2,087,540 Joined:Oct 2005	Message Posted: Feb 7, 2012 4:29:18 AM Ignore FPLREP Report Abuse Warning to speculators not to buy futures above $100!
ArmydudeNC Champion Author North Carolina Posts:6,308 Points:1,015,275 Joined:Jul 2009	Message Posted: Feb 7, 2012 4:22:54 AM Ignore ArmydudeNC Report Abuse Right....heard this before.
WalRus49 Champion Author Boston Posts:2,225 Points:504,765 Joined:Nov 2010	Message Posted: Feb 7, 2012 4:04:43 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage..........
gawxnative All-Star Author Atlanta Posts:507 Points:185,430 Joined:Aug 2006	Message Posted: Feb 7, 2012 3:07:46 AM Ignore gawxnative Report Abuse Believe it when I see it.
99dakota Champion Author Providence Posts:6,241 Points:1,809,125 Joined:Oct 2006	Message Posted: Feb 7, 2012 2:53:39 AM Ignore 99dakota Report Abuse Lets become energy independant so we don't have to worry about Arab oil.
BBopp Champion Author Dayton Posts:5,433 Points:1,675,530 Joined:Dec 2006	Message Posted: Feb 7, 2012 2:33:52 AM Ignore BBopp Report Abuse Yeah and there was a time OPEC said $85/barrel was plenty.
Yooperheart Champion Author Michigan Posts:1,362 Points:164,080 Joined:Feb 2010	Message Posted: Feb 7, 2012 2:03:49 AM Ignore Yooperheart Report Abuse Wow, think he can make another prediction, keep it below $60./bbl
Pozole Champion Author Portland Posts:7,216 Points:1,230,575 Joined:Mar 2005	Message Posted: Feb 7, 2012 1:34:59 AM Ignore Pozole Report Abuse ...guess he's the king of the world, eh ?...
wendy1john32 Champion Author Los Angeles Posts:1,247 Points:756,395 Joined:Jul 2009	Message Posted: Feb 7, 2012 12:57:21 AM Ignore wendy1john32 Report Abuse Interesting that a single prince has so much power.
djgunrunner Champion Author Salt Lake City Posts:8,138 Points:1,988,620 Joined:Apr 2005	Message Posted: Feb 6, 2012 11:36:19 PM Ignore djgunrunner Report Abuse They can figure it out. If they push too hard they might even push obama into natural gas as it is expanding without him already. With a little support the use of it would skyrocket. When it does opec will start to hurt. It will be money they will never see that will be spent by Americans for the most part. Most of it will stay in America. When the price comes down on Natural Gas conversions to bi fuel and Detroit imports more of the cars already being sold in Europe and the Mid East opec will get hurt bad. Then when the East Coast starts using Natural Gas and the people realize the savings by not using fuel oil opec will be hurt worse.
1momsunshine Champion Author Ottawa Posts:3,631 Points:642,870 Joined:Mar 2010	Message Posted: Feb 6, 2012 11:31:16 PM Ignore 1momsunshine Report Abuse really
edgarCA Champion Author Oakland Posts:1,536 Points:232,670 Joined:Jun 2009	Message Posted: Feb 6, 2012 10:52:06 PM Ignore edgarCA Report Abuse I did not know prince Bin Talal was Citigroup's biggest shareholder.
TRYWI All-Star Author Appleton Posts:556 Points:115,415 Joined:Jan 2012	Message Posted: Feb 6, 2012 10:31:49 PM Ignore TRYWI Report Abuse Our tax dollars are helping some one?????????????
RNCII Champion Author Michigan Posts:1,780 Points:330,090 Joined:Jun 2011	Message Posted: Feb 6, 2012 10:26:50 PM Ignore RNCII Report Abuse The Saudis will do what they can but as long as we have Obama spending trillions of dollars we don't have every year our dollar will buy less and less so our oil and fuel prices will rise faster and faster. No...Ba...Ma No ...Ba ...Ma No ... Ba ... Ma NoBama 2012
roadrunnin Champion Author Richmond Posts:1,316 Points:367,870 Joined:May 2008	Message Posted: Feb 6, 2012 10:08:40 PM Ignore roadrunnin Report Abuse Sure.
comprof Champion Author Houston Posts:4,918 Points:998,205 Joined:Jul 2009	Message Posted: Feb 6, 2012 10:07:05 PM Ignore comprof Report Abuse Good but complete the pipeline and drill and then we can control the price.
runout9 Champion Author New Jersey Posts:3,240 Points:978,145 Joined:Dec 2008	Message Posted: Feb 6, 2012 10:06:50 PM Ignore runout9 Report Abuse Just wave their magic wand?
comprof Champion Author Houston Posts:4,918 Points:998,205 Joined:Jul 2009	Message Posted: Feb 6, 2012 10:03:30 PM Ignore comprof Report Abuse Saudi has been the only reasonable OPEC country.
BJWI Champion Author Milwaukee Posts:4,192 Points:372,290 Joined:May 2011	Message Posted: Feb 6, 2012 10:03:21 PM Ignore BJWI Report Abuse Saudi Arabia’s assurance has not stopped prices from rising in the Milwaukee area, then again nothing stops the oil companies from bleeding us dry.
anascom All-Star Author Hamilton Posts:871 Points:317,315 Joined:Feb 2011	Message Posted: Feb 6, 2012 9:43:10 PM Ignore anascom Report Abuse i hope they can! but i am not certain they will be able to do so if israel attacked iran!
kx250 Champion Author Michigan Posts:1,406 Points:767,925 Joined:Oct 2008	Message Posted: Feb 6, 2012 9:36:18 PM Ignore kx250 Report Abuse They're already "supposedly" pumping at capacity, like they can do anything
Vetteblu Champion Author Denver Posts:1,637 Points:465,865 Joined:Oct 2010	Message Posted: Feb 6, 2012 9:24:14 PM Ignore Vetteblu Report Abuse How generous of them.
northeast2 Champion Author New York Posts:3,163 Points:850,960 Joined:Mar 2008	Message Posted: Feb 6, 2012 9:23:41 PM Ignore northeast2 Report Abuse "But if the strait is blocked he believes the U.S. can reopen the strait "very quickly."" It's very, very sad that a Saudi prince has more faith in the US military than American oil traders on the NYMEX.
wrunner Champion Author Virginia Posts:2,525 Points:773,240 Joined:Dec 2009	Message Posted: Feb 6, 2012 9:21:02 PM Ignore wrunner Report Abuse I hope he keeps his word or else put his money where his mouth is.
JohnofGB Champion Author Flint Posts:3,597 Points:734,120 Joined:Feb 2010	Message Posted: Feb 6, 2012 9:07:44 PM Ignore JohnofGB Report Abuse He must be talking about the American standard, west Texas intermediate because Brent is above $110 a barrel.
tankerCA Champion Author Chico Posts:1,541 Points:188,590 Joined:Mar 2011	Message Posted: Feb 6, 2012 8:45:38 PM Ignore tankerCA Report Abuse We'll see how high oil will be when war breaks out in the Persian Gulf.
livable1 Champion Author New York Posts:2,323 Points:283,265 Joined:Oct 2008	Message Posted: Feb 6, 2012 8:45:27 PM Ignore livable1 Report Abuse Ha
amerk73 Champion Author Dallas Posts:5,210 Points:1,256,880 Joined:Oct 2008	Message Posted: Feb 6, 2012 8:40:27 PM Ignore amerk73 Report Abuse thats good how about gas price
fedupMN Champion Author Twin Cities Posts:1,417 Points:279,885 Joined:Mar 2011	Message Posted: Feb 6, 2012 8:31:18 PM Ignore fedupMN Report Abuse makes little difference to what we pay at the pump, the speculators control will drive up the price at the pump.
humblepie Champion Author Toledo Posts:17,246 Points:2,007,270 Joined:Mar 2006	Message Posted: Feb 6, 2012 8:25:50 PM Ignore humblepie Report Abuse whataguy
mattpolska Sophomore Author Winnipeg Posts:243 Points:68,920 Joined:Nov 2010	Message Posted: Feb 6, 2012 7:08:41 PM Ignore mattpolska Report Abuse thats oil now watch gas spike due to wall street spec
NOTSOGRN Champion Author Michigan Posts:1,506 Points:1,179,515 Joined:Dec 2007	Message Posted: Feb 6, 2012 7:05:50 PM Ignore NOTSOGRN Report Abuse . . Yup got that right. [Edited by: NOTSOGRN at 2/6/2012 10:11:03 PM EST]
JamesCalvin Champion Author Lancaster Posts:1,241 Points:158,925 Joined:Nov 2011	Message Posted: Feb 6, 2012 7:03:22 PM Ignore JamesCalvin Report Abuse They can be trusted! Relax!
jwkycola Veteran Author Columbia Posts:391 Points:241,125 Joined:Jul 2011	Message Posted: Feb 6, 2012 6:54:45 PM Ignore jwkycola Report Abuse Sure they won't.
IwanFL Sophomore Author Gainesville Posts:224 Points:80,430 Joined:Dec 2011	Message Posted: Feb 6, 2012 6:49:05 PM Ignore IwanFL Report Abuse time will tell
BuckyTJones Champion Author Salt Lake City Posts:3,101 Points:686,185 Joined:Mar 2010	Message Posted: Feb 6, 2012 6:21:41 PM Ignore BuckyTJones Report Abuse How about not letting it go over $80
lonewolf_947 Veteran Author New Hampshire Posts:341 Points:303,135 Joined:Mar 2011	Message Posted: Feb 6, 2012 6:08:57 PM Ignore lonewolf_947 Report Abuse We'll see if they keep their word..........
schatzila Champion Author Los Angeles Posts:3,232 Points:677,040 Joined:Jun 2010	Message Posted: Feb 6, 2012 5:59:13 PM Ignore schatzila Report Abuse Hope it's true.