May 21, 2004

World Oil Prices Fall from 21-Year Highs

World oil prices fell from 21-year highs on Friday as Saudi Arabia proposed hiking crude output by over two million barrels per day and said it had already substantially boosted supplies in a bid to cool markets.

These people are going to have to be dealt with sooner or later--they are not our friends.
But we need to deal with our dependence on OPEC oil before then by passing the bill to drill on ANWR and allowing more offshore rigs to pump in the Gulf.
No matter what the partisan Media says, this is not "about Bush."
(Although I wouldn't put it past the House of Saud to do this manoeuvre so that it looks like they're doing it "for Bush."
They will try to use the oil weapon, which is about the only "weapon" in their arsenal other than Paki nukes, to get Bush defeated and if it means tainting him with being their friend, they'll use that. They know we Americans hate them.)
This is about the greed, perfidy and Waahab jihadism of the Saudis.