Oil Proof

The sight of George W pleading with the Crown Prince of Saudi Arabi to pump more oil was pitiful. I bet they had a great laugh in the palace afterwards.

Recent events have proved that the world can cope with oil at $100 a barrel. We can be certain of one thing. OPEC will not let the price go below that level again. If I were the Saudi Arabian oil minister, I would reduce production, as soon as the price went below that level. They can afford to reduce production, because they have earned enough while the price was at $130 to last them for quite a while.

Actually the best thing that could happen for my great great great great great great grand children would be for the price of oil to go above $200 a barrel. That way there might be some oil left for them. I think they will appreciate having some oil, because it is so useful.