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Saudia Arabia: $200 Oil In 2 Years

Discussion in 'Political Discussion' started by PatriotsReign, May 26, 2009.

  1. PatriotsReign

    PatriotsReign Rookie

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    Whatever you do, don't buy that new suv or low mileage car even if it's a great deal!!

    $4 - $5/gal. gasoline isn't far off according to Opec.

    Saudia Arabia: $200 Oil In 2 Years

    "Saudi Arabia warned oil prices could spike to beyond the near $150 record high of 2008 within two to three years, as energy leaders on Monday decried a blow to investment in expanding capacity due to the financial crisis.

    Energy ministers and officials at the Group of Eight energy summit in Rome are meeting as oil prices hover at a six-month high of over $60 a barrel, but below the $75 a barrel level producers say is needed to spur investment in new production.

    Saudi Arabian Oil Minister Ali al-Naimi said the world was heading for a fresh spike after the current phase of faltering demand and lower prices, which reflected the global economic downturn rather than an indicator of things to come."


    This is not the kind of news the world wants to hear in a deep recession!
    Last edited: May 26, 2009
  2. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    They're Not All Bad I Pray To God That The American Bastards Don't Get Mad And Offend Them
  3. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Well, we aren't looking for our own oil - and we don't seem to have started any new initiatives for alternatives; despite the stimulus money being the perfect opportunity. Let's go, obama, this is your chance to actually accomplish something.
  4. PressCoverage

    PressCoverage Banned

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    What's with the doom and gloom, PR? No one wants to read this kind of sobering reality. Put your faith in hope.
  5. Real World

    Real World Moderator Staff Member

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    PR did.

    [​IMG]

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