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  1. #1
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    Saudis not happy about price of oil and new US MPG standards?

    Uh oh, somebody is getting worried about their $:

    This may sound surprising, but Saudi Prince Al-Waleed bin Talal has gone on record saying he wants the price of oil to decrease. Why's that you ask? It's all about the long-term game, says the Saudi Royal Family's stock market and real estate magnate. In a recent interview with "CNN's Fareed Zakaria GPS,"

    Al Waleed admits:
    "We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives."

    Talal goes on to say that he thinks the price of oil should be closer to $70 to $80 a barrel instead of the current $100/barrel rate. With such high oil and gasoline prices, Talal fears that new technologies are being pushed ever harder to squeeze more and more miles out of each gallon of gas. Further, Talal worries that U.S. efforts to increase its Corporate Average Fuel Economy standards to 35.5 mpg by 2016 and anywhere from 47 to 62 mpg by 2025 (along with automakers' burgeoning EV strategies) could eventually lead to reduced or eliminated dependence on Saudi oil.

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    I would be scared too. Those countries wouldn't have much if it wasn't for their oil. Sucks to say it, but it's the truth.

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    Click here to enlarge Originally Posted by leo985i Click here to enlarge
    I would be scared too. Those countries wouldn't have much if it wasn't for their oil. Sucks to say it, but it's the truth.
    Maybe they will up production and drop the price then?

    This royal family is basically based on oil and that money is all diversified into other investments many of which are in the US. It's an interesting situation...

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    The middle east would remain a desert were it not for the oil...

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    Click here to enlarge Originally Posted by DarkPhantom Click here to enlarge
    The middle east would remain a desert were it not for the oil...
    Is it a rain forest right now?

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    ^LOL^
    Click here to enlarge



    EURO 04 M3 Current Mods:GC DAs, Eibach Sways, PF RTAB's, RE RCAs, INTRAVEE II, Black Roundels, ///MFEST Badges, Depo's, Screen protector for NAV display, VCSL Bumper + Race Lip & CF Trunk & CF Rear Diffusor, DIETZ TV in Motion, SS= V1 Headers + catless pipes + X-Pipe + SS Sport Exhaust, Z8 Starter Button, Lamin-X, OEM CSL interior, OEM CSL Steering, OEM CSL Intake, OEM CSL Roof, MSS54HP + OEM CSL Tune, BBS CH's, LIGHTWERKZ, 355mm ST40 BBK, BW Oil Cooler....

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    June 8th. The price will fall.
    Tune only 60-130: 8.57
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  8. #8
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    Click here to enlarge Originally Posted by propain Click here to enlarge
    June 8th. The price will fall.
    Why that day?

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    he and his family can go to hell, period.

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    It's all about the cash in the end.
    Click here to enlarge

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    1 out of 1 members liked this post. Reputation: Yes | No
    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    Why that day?
    You will see a fall early in the week in anticipation of the OPEC meeting in Vienna.

    The Saudi's are the leading OPEC producers and as you stated in your OP are not happy with the price and will take measures to get the barrel price below $100.
    They want $75. The market will respond to this early and lots of selling will take place dropping the price. Then whatever measures are implemented by the 9th we should be close to $90 a barrel in my opinion.
    Tune only 60-130: 8.57
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    He should be worried! Got quoted $23 a gallon for VP Import! $#@! that I placed an order for a 55 gallon barrel of E98 yesterday!

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    Tune only 60-130: 8.57
    Tune only 1/4 mile record: 11.531 @ 122.12



  14. #14
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    Click here to enlarge Originally Posted by propain Click here to enlarge
    Well I hope they get it to drop. Fueling up my Cayenne is getting to be almost $100 a tank.

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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    Well I hope they get it to drop. Fueling up my Cayenne is getting to be almost $100 a tank.
    So close... but no.. now your Focked... $5/Gal in less than 2 weeks probably.

    We are all screwed now... Iran have now decided "F the worlds economy, we want our money now" and not increase quotas on barrels. Along with 5 other members included the douche Chavez...

    In short... OPEC is on its way out... We will have Euro prices in the states soon.
    Tune only 60-130: 8.57
    Tune only 1/4 mile record: 11.531 @ 122.12



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    Click here to enlarge Originally Posted by propain Click here to enlarge
    In short... OPEC is on its way out... We will have Euro prices in the states soon.
    I wouldn't mind the increased fuel cost if it kept people off the road, but it doesn't.

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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    Well I hope they get it to drop. Fueling up my Cayenne is getting to be almost $100 a tank.
    The US has some of the lowest taxes and lowest fuel prices in the world. I find it amusing that these 2 topics are so passionately complained about....

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    Click here to enlarge Originally Posted by PEI330Ci Click here to enlarge
    The US has some of the lowest taxes and lowest fuel prices in the world. I find it amusing that these 2 topics are so passionately complained about....
    You are definitely right, compared to Europe we have it great. It doesn't even really matter all that much to me.

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    Click here to enlarge Originally Posted by PEI330Ci Click here to enlarge
    The US has some of the lowest taxes and lowest fuel prices in the world. I find it amusing that these 2 topics are so passionately complained about....
    Money in my pocket is better than money in theirs. Higher prices for the rest of the world, not just the US. Saudi Arabia pays 60 cents a gallon for gas. Iran pays 37 cents. Keep that in mind next time you fill up for $100 and it cost an already rich Saudi prince $12.
    Tune only 60-130: 8.57
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  20. #20
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    Dude tell me in which gas station gas is 37 cents, i want afew thousand litres.

    it used to be 85 cents per litre but now because USD jumped(thanks to Mr. Baboon) it's now 76 cents per litre.

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    Click here to enlarge Originally Posted by Sorena Click here to enlarge
    it's now 76 cents per litre.
    So you guys pay 2.87 a gallon... interesting.

  22. #22
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    Click here to enlarge Originally Posted by Sorena Click here to enlarge
    Dude tell me in which gas station gas is 37 cents, i want afew thousand litres.

    it used to be 85 cents per litre but now because USD jumped(thanks to Mr. Baboon) it's now 76 cents per litre.
    Just depends where you are in the middle east, and what your commercial status is. We both know grey or black market fuel circulates....and in vast quantities.

    We have one operation that is supplied fuel on site at about $0.40 per gallon for diesel. We consume fuel in huge quantities....so I can tell you that there is a lot of money involved....however the price is still cheap.

    Most long term contracts have a fuel clause where a set price is agreed to for the contractor. If the market price goes above that, the client is liable for the difference in price.

    We have also been audited by the police, and other government agencies to check for illegal fuel smuggling. When you consume a lot of fuel, you get the evil eye. All the fuel logs need to match up you can be in big trouble.

    Saudis biggest problem is not the price of it's oil, it's how much of it's production is being consummed by it's own population.

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    Its really simple economics though, not really the saudis wanting to lower the price of oil.

    Low demand = excess supply, price will have to go down. With the recession and high unemployment, less people are driving, thus less demand. Not to mention the floods and excess heat, causing people to stay indoors more.

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    In Rome it is about 1.75 EUR a litre and in London it is around 1.80 GBP a litre. I have no problem filling my car up when in the US and would smile if it was only $5 a gallon.

    The US has had it easy for a long time now....what do you think the US policy makers are trying to protect in Libya and the middle east (hint: it is not the people).

  25. #25
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    Click here to enlarge Originally Posted by ecampbell Click here to enlarge
    what do you think the US policy makers are trying to protect in Libya and the middle east (hint: it is not the people).
    But most of that oil goes to Europe?

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