April's Fool: Oil chiefs say high prices not our fault

It's called Capitalism.

 

Exactly what do you think created the middle class?

Capitalism.

Expected to hit $150 or $160 a barrel by who? I could give you sources that say it will be $60.

 

wow i think i'll get into the "splash and cash" business" add 1% biodeisel to 99%deisel ,export it, and receive 1.00 in government subsidies on every gal that we don't need, i think its time to pick a pen and repeal this

 

BEIJING, Oct. 22 -- Russia, the world's second-biggest oil exporter after Saudi Arabia, forecast crude oil prices may drop to 60 U.S. dollars a barrel in a decade.


"Oil is significantly overpriced," Finance Minister Alexei Kudrin said in Russian at a press briefing on Saturday in Washington. "The price is at a speculative level and has heated up because of conflicts in oil-producing regions. The jump in price is temporary."
http://news.xinhuanet.com/english/2007-10/22/content_6920626.htm

Saudi Arabia's al-Naimi sees permanent $60 oil floor price

Saudi Arabia Oil Minister al-Naimi may have been referring to harder-to-refine oil sources in the Middle East region when stating that the sources cost $60-70 per barrel to produce. Canada's oil sands region can produce oil profitably with the price at about $45-50.

http://www.bloggingstocks.com/2008/03/04/saudi-arabias-al-naimi-sees-permanent-60-oil-floor-price/