Oil Price - Arabian perspective

[SKALA]

In Arabian desert for 4 weeks now with occasianal dailup. Been doing contract work here on/off last few years. Arabs need to keep oil price at present levels in order to maintain economic and political stability in the region, so no matter how hard US and others try to bring price down, it will not stay down. Also Arabs do not want oil price to keep rising sharply; bad for politics and increases tension in the region. Just another view.

[#2]

Narly, dude. World's biggest beaches, man o man. True, Arabia & the experienced gulf producers learned after the 70's oil crisis that a sharp rise in prices could spark global economic meltdown, sharply reducing demand. Also gave impetus to design more fuel economic vehicles, using less fuel. Japan's car industry was born on the 73 crisis. Same could happen again if prices push towards $100 a barrel for the long term. Would also boost search for alternatives. That's why they established Opec back in 1960. They figgered price stability better for producers in the long run, than squeezing every last dollar outa the Great Satan for their black gold.