WikiLeaks: Saudis often warned U.S. about oil speculators

mookiemookie · 06-01-11, 02:57 PM

It may be my confirmation bias showing, but here it is...

Quote:

When oil prices hit a record $147 a barrel in July 2008, the Bush administration leaned on Saudi Arabia to pump more crude in hopes that a flood of new crude would drive the price down. The Saudis complied, but not before warning that oil already was plentiful and that Wall Street speculation, not a shortage of oil, was driving up prices.

...

Another confidential document from the embassy in Riyadh, dated Feb. 14, 2007, indicates that Saudi officials had concluded years ago that speculation played at least as big a role in setting oil prices as traditional issues of supply and demand did.

I've harped on this issue before. When the world's largest exporter says something's an issue with the oil business, it probably is.

Freiwillige · 06-01-11, 08:51 PM

Oh yea, speculators will buy oil cheap and sit on it for months and sometimes years to sell at their discretion when oil is up. Buy low and sell high and just wait for the next international crisis to make the market jump. A bunch of thievery and greed it is!

These guys need to be put on the next terrorist list, they are terrorizing my wallet!

gimpy117 · 06-01-11, 09:43 PM

its all speculation.

Gerald · 06-01-11, 09:45 PM

The data is correct,

Bakkels · 06-01-11, 09:51 PM

Quote:

Originally Posted by Vendor

The data is correct,

Did you mean to say "Follow the money"?

Gerald · 06-01-11, 09:56 PM

Quote:

Originally Posted by Bakkels

Did you mean to say "Follow the money"?

Money is in the picture, of course, yes I just said that Mookie, posted have relevance,

mookiemookie · 06-01-11, 09:57 PM

Forgot to post the original article:

http://www.mcclatchydc.com/2011/05/2...en-warned.html

Bakkels · 06-01-11, 09:59 PM

Who are you calling Mookie??

Well I'm honored anyway...

Anyway, I was just refering to a movie. Nothing to be taken too serious Vendor

Gerald · 06-01-11, 10:12 PM

I know, but these figures may be interesting for "some" I myself have read this earlier, but to attach more importance to it, but there is always information that can be shared is connected with other events, and then there will be more substance.

06-01-11, 09:43 PM	#3
gimpy117 Ocean Warrior Join Date: Jul 2007 Location: Kalamazoo, MI Posts: 3,243 Downloads: 108 Uploads: 0	its all speculation. __________________ Member of the Subsim Zombie Army

06-01-11, 09:45 PM	#4
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	The data is correct, __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

06-01-11, 09:57 PM	#7
mookiemookie Navy Seal Join Date: Nov 2005 Location: Houston, TX Posts: 9,404 Downloads: 105 Uploads: 1	Forgot to post the original article: http://www.mcclatchydc.com/2011/05/2...en-warned.html __________________ They don’t think it be like it is, but it do. Want more U-boat Kaleun portraits for your SH3 Commander Profiles? Download the SH3 Commander Portrait Pack here.

06-01-11, 09:59 PM	#8
Bakkels Seasoned Skipper Join Date: Jan 2011 Location: Groningen, The Netherlands Posts: 709 Downloads: 101 Uploads: 6	Who are you calling Mookie?? Well I'm honored anyway... Anyway, I was just refering to a movie. Nothing to be taken too serious Vendor __________________ My sh3 skins : http://www.gamefront.com/files/user/Bakkels Or go to the sh3 downloads section > skins

06-01-11, 10:12 PM	#9
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	I know, but these figures may be interesting for "some" I myself have read this earlier, but to attach more importance to it, but there is always information that can be shared is connected with other events, and then there will be more substance. __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

06-01-11, 08:51 PM	#2
Freiwillige The Old Man Join Date: Mar 2008 Location: Phx. Az Posts: 1,458 Downloads: 24 Uploads: 0	Oh yea, speculators will buy oil cheap and sit on it for months and sometimes years to sell at their discretion when oil is up. Buy low and sell high and just wait for the next international crisis to make the market jump. A bunch of thievery and greed it is! These guys need to be put on the next terrorist list, they are terrorizing my wallet!