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Pastimes : All Clowns Must Be Destroyed

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To: Cynic 2005 who wrote ()	6/15/2000 10:15:00 PM
From: Crimson Ghost	of 42523

Saudi Arabia no longer dancing to US tune? June 15, 2000 1:57am Source: Reuters RIYADH, June 15 ( Reuters ) - A Saudi Arabian newspaper on Thursday accused the United States of waging a secret battle to bring world oil prices down and urged OPEC not to allow anybody to manipulate the market. Al-Riyadh said in a front page editorial Organisation of Petroleum Exporting Countries members were ``watching carefully the rise in oil prices, but they do not want to be dragged into a trap laid by big countries leading a secret battle that wants to push oil prices to levels that suit their policies.'' Saudi Arabia is OPEC's leading producer and is instrumental in decisions by the cartel, which is due to meet on June 21 to decide whether or not to increase exports. ``Is low supply in the market behind the rise in oil prices?... Or is it private speculation aiming at entering a confrontation with OPEC and putting pressure on it to impose an increase in production based on the wishes of some countries to reduce prices as part of an economic war on producers?'' the paper said. ``What is strange is that America is where the gasoline prices are going up, without clear reasons like a limit toconsumption similar to what happened during the 1973 Arab boycott,'' it said. Al-Riyadh wondered if the United States ``wants to create a war between the big consumers and OPEC countries so it alone will emerge victorious.'' The paper urged OPEC not to give anybody ``the chance to manipulate the market or portray the producing nations as an enemy that wants to shake the world economy.'' Saudi Arabia wants to ease oil prices after extra deliveries released by OPEC in March failed to cap a rally. Some price hawks in OPEC, including Iran, believe crude stocks are building quickly enough to avoid the need for more of their oil. They blame a shortage of a new green grade of gasoline in the United States. U.S. Energy Secretary Bill Richardson said on Tuesday that data showing there are low oil and petroleum product inventories should be the key factor used by OPEC when deciding whether to increase their oil output. But he declined to say publicly if the U.S. wanted OPEC to ramp up production. comment from DeRonin: This never would have happened under Fahd. Its a new, not as pro-US, game in S. Arabia. Disconcerting thought: The health of the whole Western economy rests on the shoulders of this Muslum authoritarian regime. They control the only real spare oil production capacity in the wor

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