Saudi king urges consumers to get used to high oil prices
July 1, 2008
King Abdullah of Saudi Arabia, whose nation is the world’s number one oil exporter, called on consumer countries to get used to high prices in comments published on Tuesday.
“Consumer countries have to adapt to the prices and the mechanisms of the market,” the king said in an interview published by the Kuwaiti daily Al-Siyassah.
“We have nothing to do with the current sharp increase in crude prices,” he said reiterating the Saudi position that speculation, rising demand and the taxation of oil products in consumer countries were to blame.
“These countries must reduce their taxes on fuel.. if they want to contribute to easing the burden on ordinary consumers,” he said.
AFP | Tuesday, July 1, 2008
Last 5 posts in Economy
- Exclusive Interview: Jim Rogers Predicts Bigger Financial Shocks Loom, Fueling a Malaise That May Last for Years - August 19th, 2008
- More businesses try bartering to keep the books balanced - August 19th, 2008
- Wag the Dog: How to Conceal Massive Economic Collapse - August 18th, 2008
- Surge for the dollar as global fears rise - August 17th, 2008
- Wal-Mart workers win union contract - August 16th, 2008
Last 5 posts in Oil
- Surge for the dollar as global fears rise - August 17th, 2008
- Rice: Israel can decide for itself on Iran - August 11th, 2008
- Opec income hits record as oil prices soar - August 11th, 2008
- Big Oil's biggest quarter ever: $51.5B in all - August 2nd, 2008
- Kucinich seeks to bar US oil firms from Iraq - August 1st, 2008
Posted by Philip Dru · Filed Under Economy, Oil | Random Post |
Comments
Got something to say?
The Raw Story- Congress requests special counsel on rendition
- Did Rove bolt from the country to avoid testifying?
- Journo: FISA vote 'step toward fascism'; ACLU sues gov't
- Impeach bill: Bush lied America into war
- US: Real or not, Iranian missile tests must stop
- Poll: Turnout expected to skyrocket in November
- After FISA flip, Obama vets Dodd for VP
- Group: Obama finance disclosure less than Bush
- McCain questioned about PNAC, 9/11
- Poll: Obama up 48-40
- Antiwar
- The Most Dangerous Man in America
- The Narrative Versus the News
- Why Bush Will Pardon AIPAC for Espionage
- Big Three Block Iran Attack
- Bush Covered Up Musharraf Ties With al-Qaeda, Khan
- Kosovo Casts Shadow on South Ossetian Standoff
- Double Standards in the Global War on Terror: Anthrax Department
- Please Mr. President, Don't Make Promises to Fools
- Who Started Cold War II?
- Arar Faces Uphill Legal Battle
- Truth News
- The Matrix & Other 9/11 Hollywood Symbolism
- Did Tom Clancy’s “lucky assertions” foretell the Georgia Conflict of 2008 in 2001 and the SPP of 2005 in 2004?
- We Are Change L.A. questions Dennis Kucinich about 9/11
- Fmr President Ford secretly told FBI about panel’s doubts on JFK murder
- Flashback: U.S.-Georgia training begins amid Russia strain
- Pentagon closes controversial intelligence unit
- What the Iraq Forgery Says About 9/11
- Chemical Traces of High Explosives in WTC Debris
- Law Professor: Counter Terrorism Czar Told Me There Is Going To Be An i-9/11 And An i-Patriot Act
- Get Outraged And Get Active About Internet Censorship
