Saudi King said that oil should be $75 a barrel. HOw do you respond to that?

I'd respond by saying that he wasn't saying anything when it was $147 a barrel earlier in the year.Saudi King said that oil should be $75 a barrel. HOw do you respond to that?
My answer would be: ';Say that when oil is $150/barrel and I might believe your motives.'; Otherwise, this is the way the free market works. Sometimes the price is high, sometimes the price is low. You ride the price or get out of the oil business.





The reason he's saying crap like this is the same reason other OPEC countries, like Venezuela, are worried about the current oil prices. It's because they set their national budgets based on oil prices being high. With oil prices being low, their tax revenues are down and their budgets will go into deficit, so they're all worried about it. I say: Good! That'll teach you not to diversify your economy.Saudi King said that oil should be $75 a barrel. HOw do you respond to that?
He is a greedy ignorant man with too many materialistic ideals. If he were at the other end, he wouldn't have that opinion. The US and the rest of the world need to take heed to what this man is saying. He wants higher prices so that his pockets can get fatter. He talks of needing to raise the price to fund more drilling and exploration. The fact is that all the money that was made earlier this year should be more than enough to fund that research for the next decade. If he and his henchman had not bought yachts and golden palaces, then they would haven't to worry about it now.
It just goes to show how the oil market is manipulated. The OPEC countries think they can control the price of oil because they control the majority of the oil production, but thankfully they don't control all of it (hold about 2/3 of known world reserves and about 36% of current production). Countries like Canada and Russia are not in OPEC.





Drilling offshore in the US and focus on alternative energies will help alleviate OPEC's grip on our economy. Don't let the gasoline price drop of the last few months fool us!! When the Chinese and Indian economies recover, the price of oil will skyrocket again if we don't start to do something about it NOW.
morons...we don't need to drill for oil. we need to upgrade our technology to use other resources. And not just because its cheaper...look at our planet's environment? In just a hundred years we pretty much caused a lot of damage. Can you not think about future generations? Geez....you guys are pathetic.
I say we start drilling right now here in the USA and tell environmentalist and liberals to kiss our behinds ! . And I'm really skeptical about this business of it taking ten years before the effects of drilling here would be felt financially . If the government really wanted to put a serious plan in gear. They could get it done pronto !
I believe he means a MINIMUM of $75. Of course he wasn't talking when oil was nearing the $150 mark; who do you think was cashing in on that price ? The big problem is that OPEC is a near-monopoly, and can cut production any time the choose, so as to drive prices up.





:-o
You beat me to the question. I would say he is like most rich people the more you get the more you want. I cannot wait for the day when Saudi Arabia reverts to a third world country and they can go back to riding camels.
I'd say it's just another example of why the Saudis are no friends of the United States. The sooner we get off their oil the better.
Let's start drilling for our own oil, then he can ask what he wishes for a barrel of oil.



They only care about themselves hell with everyone else.
I think we should drill MORE of our own. Why should we be at their mercy. My answer is they will charge any amount they want by cutting production.
I'd say, 'We'll switch to alternative fuels as soon as we can! What'll you do with your oil when no one wants it anymore? You'll have to go back to herding goats!';
32.50 SOUNDS BETTER.
Easy response.





A bushel of wheat should cost $75.00 also.
It's their oil and they can set what ever price they want.
We should obey whatever the king says.
I will ride my bike with my sticker on my helmet saying ';Opec made me do it'; Damn skippy.
As long as our economy stays down, so will the price of oil. i'd say $20.25 a barrel.
Let the old fool drink his oil.
With my middle finger.
Gas prices WILL go back up....therefore...keep your jar of vasoline handy cause they are going to slap it to ya again.
I would say, ';Drill Here, Drill Now!';





Wow would we allow ourselves to be at the mercy of this tyrant.
I would say the Saudi King should go right to hell !
He can kiss my ***.
I say $74.50 and not a penny more.





P.S. I drive a Prius, so the Saudis can kiss my ***.