The White House says the President's (Bush) visit is intended, in part, to celebrate 75 years of formal U.S.-Saudi relations. But the rising price of oil commanded attention.
When Bush first ran for president in 2000, he criticized the Clinton administration for high fuel prices and said the president must "jawbone" oil producing nations and persuade them to drop rates. At that time, oil was nearing $28 a barrel. The run-up of oil prices lately has been dramatic. http://www.latimes.com/news/nationworld/world/la-fg-bush17-2008may17,0,2908986.story The above news item from Los Angeles Times does not explain why the price is now US$ 128 per barrel and still Bush is not doing anything about it. The 5 possible reasons for Rise in Oil prices that (as per Saudi press) went up 6 times in last 6 years (with % of probability in brackets- my estimates)" 1. OPEC supplying 38% of the Global market is controlling the market and making prices to go up. (0%- how can a 14 member supplier group with less than 50% market share control the total market?) 2. World Oil wells will soon run out of Oil within next 10 years and then price of Oil will be several times more. (20%- only 20% of world oil wells will run out in next 10 years including India's. Middle east and Africa will still keep pumping oil for next 100 years) 3. China & India's demands are driving up world prices (30%- Yes it is true that both China & India are consuming and importing more Crude- an increase of over 30% by volume- why they choose to do it at prices 5 times normal is a mystery to common men rather than spending even 10% of that money in Oil saving measures such as improving local transportation or developing Solar energy) 4. The future markets based in US & Europe (controlled by Rich Jews) is deliberately playing the markets to increase the price to infuritate the western world to attack middle-east as they succeded in doing in Iraq in 2003 at a much lower price level. Meanwhile they are gaining everyday in a bull market controlled by them (50%- most logical conspiracy theory) 5. US and West want a "World-War-3" to rescue their economies after major industries moved out of their region (to East) and with their currencies under pressure before it is too late to rescue or intervene. Hence they first created the Oil Crisis and now the food crisis so that common people will start rioting in the streets of several countries and then they can introduce a new world order with their superior military force. (100% my guess) P.B.Varadha Rajan (a friend who lives in Dubai).
