Fox News Affiliated Saudi Prince: ‘We Don’t Want The West To Go Find Alternatives’ To Oil

[kpete]

Fox News Affiliated Saudi Prince: ‘We Don’t Want The West To Go Find Alternatives’ To Oil
By Ben Armbruster posted from ThinkProgress Security on May 31, 2011 at 12:50 pm

Saudi Prince Al-Waleed bin Talal
Fareed Zakaria interviewed Saudi Prince Alwaleed bin Talal on his CNN show last weekend and wondered what Saudi Arabia, whom Zakaria referred to as “the central banker of oil,” could do about the rising price of a barrel of oil. “If you don’t have increased demand, if you don’t have reduced supply, why did the price go up 30 — 40 percent?” Zakaria asked. While bin Talal blamed rising oil prices on “fear” and “speculation,” the Saudi Prince made a surprising admission:

BIN TALAL: The stiff position of Saudi Arabia, we want the price to be between $70 and $80. Not only to help the West, but also to help ourselves. We don’t want the West to go and find alternatives, because, clearly, the higher the price oil goes, the more you have incentive to go and find alternatives. So, really, our interest coincides with American interest, to have the price for around $70, $80 which is a price good for consumers and producers.

Fox News Affiliated Saudi Prince: ‘We Don’t Want The West To Go Find Alternatives’ To Oil
By Ben Armbruster posted from ThinkProgress Security on May 31, 2011 at 12:50 pm

Saudi Prince Al-Waleed bin Talal
Fareed Zakaria interviewed Saudi Prince Alwaleed bin Talal on his CNN show last weekend and wondered what Saudi Arabia, whom Zakaria referred to as “the central banker of oil,” could do about the rising price of a barrel of oil. “If you don’t have increased demand, if you don’t have reduced supply, why did the price go up 30 — 40 percent?” Zakaria asked. While bin Talal blamed rising oil prices on “fear” and “speculation,” the Saudi Prince made a surprising admission:
BIN TALAL: The stiff position of Saudi Arabia, we want the price to be between $70 and $80. Not only to help the West, but also to help ourselves. We don’t want the West to go and find alternatives, because, clearly, the higher the price oil goes, the more you have incentive to go and find alternatives. So, really, our interest coincides with American interest, to have the price for around $70, $80 which is a price good for consumers and producers.

[buddysmellgood]

1. Yep. That best thing for us is $4/gal gas

[KittyWampus]

2. This is only in the interest of those making a fortune in the production/sale of oil.

And even then, it's going to make us all sicker with pollution.

[KittyWampus]

3. This is essentially the definition of regressive.

[CaliforniaPeggy]

4. Well, unfortunately, we are probably past peak oil now...

And someday it will be entirely too costly to extract what's left out of the ground.

So, we MUST find alternatives to using oil for our transportation needs.

They can keep the price low till Doomesday and we will still need to find alternatives.

That's just the way it is.

:shrug:

[Marrah_G]

5. I agree Peggy

My family is already working towards getting off the grid and as off the oil/gas as we can. Unfortunately prices for alternatives are to high for most families and alot of folks don't want to change their lifestyles too much. Me...I am happy to trade the rat race for some farming as long as I still have the internet :)

[liberal N proud]

6. So greed could actually lead to somewhat lower gas prices

What a fucked up world.

[kick-ass-bob]

7. Haven't you heard?

Greed is good.

:\

[Travis_0004]

9. Greed often leads to lower prices

Lets say you sell something for 10.00, and are making a ton of money.

I see you getting rich, and think "I can make that for 8.00". If that's the case, then I'll compete with you, and you might be forced to lower your price.

[K8-EEE]

8. Why do the wingnuts always act like "free market" is involved when

They do us a favor of calling themselves....A CARTEL....and they set the prices according to schemes like this one, not "supply and demand" or anything else.

[fascisthunter]

10. I Guess the Right Wing(GOP) Loves them Saudis

what a bunch of frauds...