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Saudi Arabia is trying to enlist other oil-producing countries to support a provocative idea: if wealthy countries reduce their oil consumption to combat global warming, they should pay compensation to oil producers.
I always thought that toppling these corrupt, torturing desert oligarchs was one of the main reasons for not using so much foreign oil, almost as much as saving the environment. That said, I'm not surprised that the Saudis would resort to this idea -- once you've proven that you're good at terrorism, extortion isn't that big of a deal, is it?
Comment removed.
Like we need another reason for increased use of coal and nuclear power.— Joe Funk
Another reason to drill of our own shores— PAEnglish- I think we need an oil compensation czar. Is Bill Ayers busy these days?— Norton
- JoeFunk & PAEnglish - Right On! It's time we put America's need first. It's time we declare our independence and produce our fuel here and stop relying on unstable foreigners.— Mark Glaeser
Drill here, drill now. Build refineries. Create jobs. Increase tax revenue by increasing commerce, not by raising taxes. Or do you not care about the economy and taking money away from terrorist abetting countries?— rudytbone
You got a problem with income redistribution?— jmc- The GOP wants to keep us dependent on Big Oil and the ME. No thanks.— chasing history
- Will, it has nothing to do with 'terrorism' or 'extortion' and everything to do with good ol' socialism as practiced by our own government. The Saudis are obviously well schooled with our tax laws, especially the EIC (lines 64a and 64b,FORM 1040) which specify, that "the credit may give you a refund EVEN if you DO NOT owe any tax." In this emerging global economy, why shouldn't the Saudis seek redress for the failures of global markets to keep their oil profits at peak levels? Don't our CEOs continue to grow their portfolios while their corporate stocks hit rock bottom? So, let's be fair and credit the Saudis for pressuring OPEC in their attempts to get a barrel of oil back to $145. They're on their way. Todsy's market opened with oil at 75 bucks/ barrel.— lefty
- I'm really not worried about this. Bush is going to call them up and "jawbone" them into producing more oil at a cheaper rate. Then he'll hold hands with the King and tiptoe through the flowers. Oh, wait, that didn't work? No one could have expected that that wouldn't work. At least no one in the sycophantic marginalized minority.— E.Plebnista
- Read "The Prize" by Daniel Yergin, which won a Pulitzer, as an understanding of this. It provides a good history of the oil industry, and provides a good explanation of how OPEC was created by these nations in an reverse situation to combat lower prices by the poroducers.— PeterMyers
- Comment removed.
- chasing ... ummm dude are you serious ? remember Palin and drill baby drill ? . The dems are blocking all offshore exploration get your facts right or take of your liberal glasses , the Dems hold all the power and nothing is getting done , NOTHING .— PAEnglish
"I always thought that toppling these corrupt, torturing desert oligarchs was one of the main reasons for not using so much foreign oil" . . . . . Think about that the next time you fill up, Will. People will not tolerate exploding gas prices and long lines at the pump, nor will they tolerate lectures from the bully pulpit. They'll replace you with a former B actor if you dare try to speak truth to selfishness. Yes, they'll always take the torturing desert oligarchs, thank you, and they'll sacrifice American troops and treasure to keep them in line.- "they'll always take the torturing desert oligarchs, thank you, and they'll sacrifice American troops and treasure to keep them in line." In fact we'll go so far as to have our president bow to their king!— legatus
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About Will Bunch
Will's new book: Learn about it here and purchase it here.
Will Bunch, a senior writer at the Philadelphia Daily News, blogs about his obsessions, including national and local politics and world affairs, the media, pop music, the Philadelphia Phillies, soccer and other sports, not necessarily in that order.
Will Bunch, a senior writer at the Philadelphia Daily News, blogs about his obsessions, including national and local politics and world affairs, the media, pop music, the Philadelphia Phillies, soccer and other sports, not necessarily in that order.
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