Comments on: Huffington Post’s Saudi-Bashing http://xrdarabia.org/2007/04/04/huffington-posts-saudi-bashing/ Informed comment and commentary about Saudi Arabia, reform, and its relations with the US Tue, 22 May 2012 20:17:08 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: John Burgess http://xrdarabia.org/2007/04/04/huffington-posts-saudi-bashing/comment-page-1/#comment-2508 John Burgess Thu, 05 Apr 2007 12:28:31 +0000 http://xrdarabia.org/?p=2975#comment-2508 I just put it in the Saudi-bashing category. Any pretext will do to reach the desired end: make the KSA as scary as possible to as many possible. I just put it in the Saudi-bashing category. Any pretext will do to reach the desired end: make the KSA as scary as possible to as many possible.

]]> By: Andy http://xrdarabia.org/2007/04/04/huffington-posts-saudi-bashing/comment-page-1/#comment-2507 Andy Thu, 05 Apr 2007 03:58:32 +0000 http://xrdarabia.org/?p=2975#comment-2507 John, I agree. From some of the oil analysis I read a few months ago, most of the World's producers would like to see the price stabilize in the $50-$60 a bbl range instead of the 30-40 range historically. This is actually good for American since it promotes conservation and alternatives. I can still remember what the oil price crash in the early 80's did to conservation, investment in things like shale oil, and alternative energy. This "article" imo is one of many that I place in the "oil cabal conspiracy" category. John,

I agree. From some of the oil analysis I read a few months ago, most of the World’s producers would like to see the price stabilize in the $50-$60 a bbl range instead of the 30-40 range historically.

This is actually good for American since it promotes conservation and alternatives. I can still remember what the oil price crash in the early 80′s did to conservation, investment in things like shale oil, and alternative energy.

This “article” imo is one of many that I place in the “oil cabal conspiracy” category.

]]> By: John Burgess http://xrdarabia.org/2007/04/04/huffington-posts-saudi-bashing/comment-page-1/#comment-2506 John Burgess Thu, 05 Apr 2007 01:30:19 +0000 http://xrdarabia.org/?p=2975#comment-2506 I think trying to draw links of causation in this is really on the fringe. Saudi Arabia was hemorrhaging from over-budgeting and over-spending. It was clearly within its own interests to get the price of oil back up to the point is was worth selling. Take a look at Saudi budget deficits for the 80s & 90s. It is also a fact that US oil producers (yes, including Texans, Oklahomans, Californians, et al.) were suffering. Closing US production might have been a good idea for some at the time--and I'm sure the revenge factor after the oil lines of the 70s would have felt just fine--but it would not have been in the long term interest of either those producers or the US as a whole. Rather than a plot against humanity, I see this as a reasonable solution to a global problem. I think trying to draw links of causation in this is really on the fringe. Saudi Arabia was hemorrhaging from over-budgeting and over-spending. It was clearly within its own interests to get the price of oil back up to the point is was worth selling. Take a look at Saudi budget deficits for the 80s & 90s.

It is also a fact that US oil producers (yes, including Texans, Oklahomans, Californians, et al.) were suffering. Closing US production might have been a good idea for some at the time–and I’m sure the revenge factor after the oil lines of the 70s would have felt just fine–but it would not have been in the long term interest of either those producers or the US as a whole.

Rather than a plot against humanity, I see this as a reasonable solution to a global problem.

]]> By: Barkley Rosser http://xrdarabia.org/2007/04/04/huffington-posts-saudi-bashing/comment-page-1/#comment-2505 Barkley Rosser Wed, 04 Apr 2007 21:48:06 +0000 http://xrdarabia.org/?p=2975#comment-2505 Well, it is true that then VP Bush made that trip and that plea. The Saudis had just increased production out of pique at the ongoing violations of quotas by both Iran and Iraq, busy buying arms for their war with cash, and the Saudi budget finally going seriously into deficit with the Saudis having cut back and cut back production to keep the price up over $30 per barrel. The price fell from that level rather suddenly in June and July of 1986 down to July, 1986. The upshot of this decline was a crash of real estate in Texas in particular, which had been puffed up on the assumption of continuing high oil prices. This triggered the failure of Texas savings and loans that triggered the broader banking crisis in the US that cost taxpayers over a $100 billion, and the pain was most concentrated in Texas, where then VP Bush was from, with lots of his friends hurting, even after the Saudis pushed the price back up at his request. I do not see much to disagree with regarding at least that portion of Huffington's post. Well, it is true that then VP Bush made that trip and that plea. The Saudis had just increased production out of pique at the ongoing violations of quotas by both Iran and Iraq, busy buying arms for their war with cash, and the Saudi budget finally going seriously into deficit with the Saudis having cut back and cut back production to keep the price up over $30 per barrel. The price fell from that level rather suddenly in June and July of 1986 down to July, 1986. The upshot of this decline was a crash of real estate in Texas in particular, which had been puffed up on the assumption of continuing high oil prices. This triggered the failure of Texas savings and loans that triggered the broader banking crisis in the US that cost taxpayers over a $100 billion, and the pain was most concentrated in Texas, where then VP Bush was from, with lots of his friends hurting, even after the Saudis pushed the price back up at his request.

I do not see much to disagree with regarding at least that portion of Huffington’s post.

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