Reasons the Saudis Refused (://URLFAN)

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Reasons the Saudis Refused

Post Date: May 20, 2008 7:59 a.m.
Ranked website: politics.boogietrain.nl (Ranks #287397 of 3,783,534)

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Blogospheric commentary on President Bush’s failure to persuade the Saudis to pump more oil in an attempt to lower prices has largely centered on glee at the president’s discomfiture or outrage at the temerity of the Saudis (depending on which side of the political fence you sit on) and, as John Burgess notes , Saudi-bashing. There hasn’t been nearly enough analysis of the Saudis’ reasons. The Reason They Gave The State Department release (hat tip: John Burgess ) gives the official explanation: The Saudi oil minister, Ali al-Naimi, announced that the kingdom decided on May 10 to raise production by 300,000 barrels at the request of customers, including the United States. He said that increase was sufficient. “Supply and demand are in balance today,” he told a news conference. “How much does Saudi Arabia need to do to satisfy people who are questioning our oil practices and policies?” As the oil minister is undoubtedly...

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