The Wall Street Journal is no stranger to the most outrageous nonsense. You refer to some cover up, perhaps. But this is what the Washington Post reported on 2/7/99.
"[The] era of nationalized oil power is now over. The Saudis, with
little fanfare, signaled its end a few months ago when Crown Prince Abdullah invited seven U.S. oil companies to make proposals for investing in new oil and gas projects in the kingdom."
"The CEOs and the crown prince exchanged ideas, and everyone went away happy. The oil companies are now sending the Saudis detailed proposals for a range of projects including new gas ventures and at least one oil scheme."
"The theme of the September meeting was "back to Mama", says Vahan Zanoyan, president and CEO of the Petroleum Finance Co., an energy consulting firm. He thinks the Saudis may hope to push production up to 10 million barrels a day from the current 8 million over a period of several years, along with an additional 2 million barrels or more of reserve capacity. That strategy could drive oil prices well below $10 a barrel -- which would hurt the Saudis but could ruin their high-cost competitors from the Caspian and elsewhere, Zanoyan says."
There were other reports regarding particular oil fields, still virgin, that Saudis are trying to develop now with big oil help. I do not have them handy.
As for your question regarding embargo, I never said that Arab countries and OPEC are "controlled" by US and England. But they are manipulated. "Manipulation" is synonym of the most vile sort of "exploitation". OPEC was a product of western manipulation. It is intentionally build of grave injustice and insuperable contradictions in order to keep its members irreconcilably divided. Divide and concur and govern, you know. That is what all those quotes are about. If someone manipulates you, this doesn't mean he is controlling you, does it? But he may frame you, force you in some very nasty deals. |
