Comments on: Saudis To Increase Summer Oil Production

CBS News Learns World's Largest Producer Will Raise Output, But Pump Prices May Not Be Curtailed

[Hybdiesel]

Well if they flood the market with oil the speculators will lose their rear ends and then the fed will lower interest rates to save their a--, our poor dollar will lose about 20 percent more value and gas will still be high. Impeach Bush, Cheney, and kick the fed out with the rest of the garbage.

[shanev137]

Let us not forget, the USA in not the only country that is suffering from high oil prices.

--------


and let''s not forget, at 21 million barrels, we use more oil everyday than:

China
Japan
Russia
Germany
India
and Canada

....combined!!


So what''s your point?

[vietnam21]

export meat,corn, vegie and etc..everything for opec $136 per pound...

[shanev137]

This is just psychological appeasement while they try for $5 a gallon.

[cyberus-2009]

Just once I''d like to see the Saudis prove their point about the speculation market by having OPEC increase output by like 5 million barrels a day for 100 days .. just long enough for the speculators holding $130-150 a barrel futures to take a huge hit. Maybe getting royally hosed across the board will reduce their eagerness to run prices up based on smoke and shadows, and make the regulators wake up and get a grip.

[Latrocinor]

is there anything a liberal dont bit8ch about??

Posted by libsluv2spit at 09:01 PM : Jun 14, 2008
.. ..
Good point.

Neocons will put up with being lied to, mortgaging the country and disolving the Constitution and remain in lock step all the while.....

Posted by formrusmcsgt
.. .. ..

See what I mean about comedians? This person is either an idiot or is trying to tell a form of blond joke.

LOL!! Great start! Still needs work. Simply not there yet. Keep working on it. The suspension of the Constitution line is great stuff for the dumb blonde. LOL!!

[Latrocinor]

is there anything a liberal dont bit8ch about??

Posted by libsluv2spit
.. .. ..
They are comedians - not libs. Can''t you tell by the jokes they are telling?

No one can possibly be as ignorant as the stories they tell so they have to be funny stories,like Blond jokes. I''ve been laughing all day.

[G H M]

The war President wants to turn helm over to McSame..
When needed by McSame the Prices will drop By bush-s buddies so McSame can become the War President!!

[mysticstone]

Let us not forget, the USA in not the only country that is suffering from high oil prices.

[bradster999]

Saudi Arabia says oil is over priced. Oil futures have been artificially inflated in value by commodities traders for weeks. Traders like Goldman Sachs and Morgan Stanley are making a fortune. I think new regulations are necessary. I find it interesting that billionaire financier George Soros calls this OIL phenomena a Bubble when everyone else sees a sharp spike in oil prices. He says he believes there are lots of bubbles building in financial markets, and in OIL. To quote him he says "He believes better regulation is necessary to keep commodity prices at more reasonable levels." The government needs to step in and do something about commodities trading. First of all, OIL and Gas should not be traded like poker chips. The consequences of a mistake are far too grave. When fear, greed and suspicion surround an activity what does that tell you? The commodities market needs a good overhaul to bring some credibility back into commodities trading. New regulations are necessary because a huge greed driven spike in oil can cause fear among all other investment sectors that are adversely affected by high oil prices. That fear would trigger a market reversal of grand proportions that would far out-weight any gains made by oil. These high prices are not sustainable and jeopardise economic growth globally, The true market value of oil is probably closer to about 80 dollars a barrel. visit our website www.nbtv.ca and take part in our gas poll

[jeffreyhwong-2009]

Forget about the military using oil, small stuff. start worrying about the amount of financial power you are shifting to the Middle East and wackos like Chavez. If you don''t oyu will be making out your mortgage check to them very soon. It is the silent war that will destroy us. Ditch the SUV and start conserving.

[formrusmcsgt]

"Within the region, it may be more diplomatic for the Saudi government to increase production after discussions with the U.N. than to respond to Bush Administration overtures, which it has rebuffed."
-----
And why do you think dubya would be rebuffed?

Just because he thinks he can invade and stomp all over the middle east as his whim dictates?

[cfin5]

A 500,000 barrel a day increase is actually considered news? We could up that without as much as "turning on the switch" for our own pumps. You know the ones out in our fields that haven''t been pumping for the last 2 years? Most of them will do at least 50 barrels a day and those wells are ALL OVER THE PLACE in my area alone. WE''re so getting gypped as usual.

[beehive21-2009]

You may double the oil available ,the oil companies will double the price,they greeedy .

[naucoming4u]

Rest assured there will be some hyped up flash point in say the Nigerian delta or some belligerent statement from an Israeli minister next week to counter this development.

Posted by bgwinnett at 07:43 PM : Jun 14, 2008
.............

Yeah, and it will probably be from some insignificant Israeli government official, like the last time when it was the Transportation Minister for God sake!

What next... the head of the Israeli DMV says a future airstrike on Iran would be needed?! Oil to $180 a barrel overnight!

Ridiculous.

[bgwinnett]

"I''''ll lose my new 20 year old Hottie Trophy wife if this keeps up".......*sniff*....."And just when she was about to let me see her nekkid"......*sniff*....

Posted by vnveteran72 at 07:36 PM : Jun 14, 2008

Rest assured there will be some hyped up flash point in say the Nigerian delta or some belligerent statement from an Israeli minister next week to counter this development.

[cbsblogger]

The US military is using huge amounts of diesel.....either bio or refined crude. Our war in Iraq is a huge driver of upward prices.

[cbsblogger]

The more they raise production the less their profits are.

[vnveteran72]

Look for an Emergency Meeting of Big Oil Fatcats, to discuss ways to prevent prices from dropping due to increased market supply of crude......

Big Oil Fatcat:

"I''ll lose my new 20 year old Hottie Trophy wife if this keeps up".......*sniff*....."And just when she was about to let me see her nekkid"......*sniff*....

[downtowner97]

The US military is beginning to use large amounts of biodiesel. Hundreds of millions of gallons of biodiesel are being produced now in a way that does not destroy food or lead to deforestation.