Hate to tell you but he's got a point

Saudis Unfazed by U.S. Talk of Energy Independence
Tue Aug 3, 2004 07:19 AM ET

By Heba Kandil
DUBAI (Reuters) - Saudis are not alarmed about Democratic presidential nominee John Kerry's pledge to end U.S. dependence on Saudi oil and believe Washington will remain reliant on the kingdom, industry experts said Tuesday.

They dismissed Kerry's call for America to rely on "its own ingenuity and innovation, not the Saudi royal family" as rhetoric to win votes, arguing that Saudi oil would still be critical to any U.S. administration.

Regardless of where Washington imports its oil from, crude from the kingdom, a regional U.S. ally and the world's largest oil exporter, feeds a global market, affecting oil prices.

"It's one global market and it's oil prices that count, not who is selling. Saudi Arabia is a cornerstone of that market and there is no such thing as wanting to be independent of Saudi oil," said Sadad Husseini, a retired Saudi Aramco executive.

Posted by Prometheus 6 on August 3, 2004 - 9:33am :: Economics
 
Prometheus 6's blog | latest article | previous | next
 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

We actually get more oil from Venezuela though, but he is right that Saudi Arabia has a huge influence on the price of oil...and thus they are critical to the US.

Bleah...this sucks. 30 years later and we've learned nothing about energy.

Posted by  Pat (not verified) on August 3, 2004 - 11:38am.