Impacts of high oil prices are beginning to scare some of the producers

Discussion in 'Politics & Religion' started by earlpearl, Jun 17, 2008.

  1. #1
    Headline from Bloombergs.....Kuwait Says Oil Over $100 Is Too High; Support Saudis

    article....http://www.bloomberg.com/apps/news?pid=20601087&sid=aJoz82F86Wis&refer=home

    The devastating impact on world economies by the incredibly fast run up on oil prices is beginning to impact and scare the producing nations, that have benefitted from these price increases.

    First Saudi Arabia called for a conference between oil exporting and oil importing nations. Now Kuwait jumps in with a statement acknowledging a need to reduce prices. Kuwait is experiencing dramatic inflation, as is the world at large.

    We will see how this plays out going forward.
     
    earlpearl, Jun 17, 2008 IP
  2. guerilla

    guerilla Notable Member

    Messages:
    9,066
    Likes Received:
    262
    Best Answers:
    0
    Trophy Points:
    200
    #2
    guerilla, Jun 17, 2008 IP