Bush to Arab nations: You're running out of oil

[katty]

more: http://thescotsman.scotsman.com/latestnews/You39re-running-out-of-oil.4095858.jp

Bush to Arab nations: You're running out of oil

Date: 19 May 2008
By TRISTAN STEWART-ROBERTSON AND MIKE THEODOULOU
PRESIDENT George Bush yesterday told leaders of the oil-rich states of the Middle East that they must face up to a future without their precious hydrocarbons.

In a stark warning, he said their supplies were running out and urged them to reform and diversify their economies. The outgoing United States president told the World Economic Forum, meeting in the Egyptian resort of Sharm el-Sheikh, that it was tiADVERTISEMENTme to "prepare for the economic changes ahead".

Mr Bush's family name is inextricably linked to the oil industry, and this was his strongest statement yet on the future of global supplies.

He told the conference: "The rising price of oil has brought great wealth to some in this region, but the supply of oil is limited, and nations like mine are aggressively developing alternatives to oil.

[skooooo]

1. One of the few times Bush has made sense to me ...

If they were smart, they'd take these things into consideration.

[no_hypocrisy]

7. Yes and no. While he was on the money about Saudi Arabia running out of oil,

he simultaneously asked for more of it.

[atreides1]

2. What Nation does he Live In?

"...and nations like mine are aggressively developing alternatives to oil."

[katty]

3. yeah?! really?! who knew?

[gateley]

4. Is he just saying this because

he was humiliated by the Saudis when they turned down his request for increased oil production to help lower our prices?

He's also using this to promote domestic exploration.

[Andy823]

5. I think you are right

That it gives his buddies in the oil business a "reason" for making prices even higher in the hears to come.

[Donnachaidh]

6. and what's a little fearmongering to aid his spec associates from driving the price higher

But you have to wonder -- if he's telling the Saudis to diversify -- what has he and Poppy got to sell to the Saudis?

Bush's only sales pitch is fearmongering. One note wonder. :puke:

[murray hill farm]

8. and to freighten them

and to pressure them to either give us the oil we need.....or......we will develop the alternatives faster and then your oil will not longer be needed, etc.

[gateley]

10. Bush doesn't frighten anybody anymore. He's impotent. nt

[Fovea]

9. a statement designed to spike OPEC oil prices

sky high.

Scarcity is part of the speculator's price model. This was like a license to hike the price to a point where demand drops so that a producer will not have to deal with depletion in their lifetimes.

Look to 2008 oil to hit and stick at $200/bbl and 2009 summer oil to hit probably about $300/bbl.

This will cause a crisis big enough that the Neocons will justify attacking all producers not seen as compliant.

It should cause us to nationalize oil.

[katty]

13. agree--then bush&co go p/up their bag o' $$ from sauds

after their trips to Israel.

[Hydra]

11. I was waiting for him to say this

Now I know that there is plenty of oil, assuming we were stupid enough to use it.

Doomsayer 50
"Informed People" 0

[Doctor_J]

12. Two weeks ago he was an economist lecturing the Indians about consumption;

last week a historian explaining about appeasement; this week a geologist waxing scientific on the world's oil supply.

Is there nothing this man is not an expert at? Let me speak for the world when I say

:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:
:rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl::rofl:

Please, Smirk, GO AWAY!!

[katty]

14. haha--the great imposter!

[robertpaulsen]

15. "nations like mine"?! Yeah, in SPITE of your opposition, hypocrite!

Dimson didn't even breathe a word about alternatives until oil had reached $50 a barrel. Now he lectures Middle East nations about running out of oil while asking for more. Who's addicted to oil now, Great Pusher?!