Saudi Arabia says it's not responsible for high oil prices

[Omaha Steve]

Source: AP

By ISABEL DEBRE

DUBAI, United Arab Emirates (AP) — Saudi Arabia said on Monday that it “won’t bear any responsibility” for a shortage in global oil supplies after a fierce barrage of attacks by Yemen’s Houthi rebels affected production in the kingdom, the world’s largest oil exporter.

The unusually stark warning marked a departure from the giant oil producer’s typically cautious statements, as Saudi officials remain aware that even their smallest comments can swing the price of oil and rattle global markets.

The salvo of rebel attacks on Saudi Arabia’s oil facilities marked a serious escalation in the war, which erupted in 2014 when the Iran-backed Houthis seized the capital, Sanaa, and much of the country’s north. Saudi Arabia and its allies responded with a devastating air campaign to dislodge the Houthis and restore the internationally recognized government. Seven years later, the conflict has turned into a bloody stalemate and spawned the worst humanitarian disaster in the world.

The state-run Saudi Press Agency quoted the Saudi Foreign Ministry as saying that the kingdom “declares that it will not bear any responsibility for any shortage in oil supplies to global markets in light of the attacks on its oil facilities.”



FILE - A photographer takes pictures of the Khurais oil field during a tour for journalists, 150 km east-northeast of Riyadh, Saudi Arabia, June 28, 2021. In a statement on Monday, March 21, 2022, carried by the state-run Saudi Press Agency, Saudi Arabia said it “won’t bear any responsibility for any shortage in oil supplies to global markets” after attacks by Yemen’s Iran-backed Houthi rebels have affected the kingdom’s production. (AP Photo/Amr Nabil, File)


Read more: https://apnews.com/article/business-iran-dubai-united-arab-emirates-saudi-arabia-31bee686305d6b946cf538d10a54d893

[llashram]

1. OH, BS BS BS!!!

[Magoo48]

7. So, you don't believe it is greed on behalf of our own corporate big oil liars?

I say our own profits-crazed oligarchs are fucking us now just as they have been for half a century.

[llashram]

9. yes I do

the Saudis and our oily oligarchs are soaking us even though they have billions in profits. Sorry, if I wasn't clear.

[Magoo48]

10. Thanks for the clarification.

[SWBTATTReg]

2. Well, I suspect that there may be some truth w/ their statement, that the Economies of the

world, downtrodden for the last couple of years, have come back roaring now that things (due to COVID) have been somewhat under control. People have suppressed going out shopping as much, and thus, are now opening up w/ their wallets and thus, driving the economic engines faster and faster as a result.

[twodogsbarking]

4. It is a group effort. They are in the "group".

[TomCADem]

5. What is the point of providing them with military aid...

… if it had no impact and they will just jack up the price anyways. Yet, just three years ago they had no problem flooding the market with oil. The reality is that they are colluding with oil interests like the Koch brothers to leverage the war to make money.

[Jimvanhise]

6. THE TRUTH ABOUT HIGH PRICES

Several years ago an Arab oil sheik was on Fox News and when he was asked abut the high price of gas he said that American companies decide what to charge Americans for gas. They immediately cut to a commercial and when they returned he was gone!

[TomCADem]

8. When was this? Oil prices were pretty low past several years...

… to the point that Trump threatened to withhold military aid unless the Saudis cut output in order to support the US oil industry, which refines a lot of the worlds oil even though the US produces more than it needs domestically.

[IronLionZion]

11. It's Joe Biden's fault

not the oil drillers or refineries or people who use too much oil. Fill up big rig trucks and slow roll in protest to own the libs.

City mouse here. Metro fares have stayed the same

[twodogsbarking]

12. Deny, deny, deny. TFG.

[JanMichael]

13. As he used a toothpick to get some baby seal pate that was stuck in teeth.

Then used some ground elephant tusk to flavor his panda burger and kept eating.

Ahhhh money!

[Martin68]

14. I suspect Big Oil is making obscene windfall profits off the perceived crisis in Ukraine, and the

signs of inflation.