Just When You Think You've Heard Everything

they lose 19 billion


how much do they make a year?

 

The topic is more FHOP than hybrid news ... but I'll bite:

" . . . . . . . Saudi Arabia has led a quiet campaign during these and other negotiations — demanding behind closed doors that oil-producing nations get special financial assistance if a new climate pact calls for substantial reductions in the use of fossil fuels. "

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So the Saudis are saying "IF" substantial reductions in fossil fuel use happens? Um, WHAT "if" are they talking about! Some of their fields are over SEVENTY FIVE years old !! They've peaked YEARS ago ... and now have to inject TONS of pressure into many of the fields, to keep them producing. Problem is, eventually you spend as much enery/power to ultimately yield the same power value you're extracting. There IS no 'if' about it. And climate pact has ZERO to do with the physics of dying fields.

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Listen, I don't pretend to be an expert on all things but I don't think the Saudi Oil Ministers statement is incorrect. He's right.

They are economically vulnerable if the world turns away from Oil Consumption because almost exclusively their economy is based on selling Oil. So his statement isn't flawed.

The debate then becomes does this mean any country that has relied on an Oil based economy have the right to get "aid" if the worlds demand drops? Well you can debate that, but I think the answer is no.

Saudi Arabia and other Oil producers have made plenty of money. They have had the opportunity to invest and diversify their holdings. In many cases they have.

I don't pretend to be an expert but on the surface my gut reaction is that they sell the oil as long as they have it and produce it, and unfortunately I don't see demand dropping any time soon, or at least not dropping to a point where it would be detrimental to these countries.

If the reality is that the world must recognize fossil fuel as unviable for the longterm for most industrial/technological countries then conversely the countries producing oil must realize that the change is inevitable. But I think the change is going to be harder for the consumers than the producers.

 

Oh wait; is this the same Saudi Arabia that refused to help out the USA a year ago? When gas was nearing $5/gal., Bush made a trip to Saudi Arabia to personally ask their leaders to lower the price of oil a bit to help relieve the dire economic situation in the US --- caused by the rapidly rising fuel costs. S.A. said, NO, we like you George (you fellow oilman), but we can't consider lowering our prices.

Is this the same Saudi Arabia that admitted in a 60 Minutes interview that their #1 goal was to keep oil prices rising as high as they can get them? Even to the point of lowering the production of oil so as to keep prices artificially high.

Have you seen the incredible wealth in Abu Dubai --- all from OIL production? Their citizens need not work for a living, the country takes care of them.

These are a few contributors to the many reasons I chose to own a Prius. I hope that we can have a positive impact on the world and one day render oil nearly worthless.

 

if the saudi's are denied their money, they are deprived of the means of subjugating the people

 

Since 15 of the 19 9-11 suicide bombers were Saudis, you do the math on this one.

-Brad

 

I think they should export solar energy, they have an abundance of that...