Oil leaders' private debate televised by mistake - Observer

[Eugene]

Source: The Guardian

Oil leaders' private debate televised by mistake

Tim Webb in Riyadh
Sunday November 18, 2007
The Observer

'Kill the cable, kill the cable,' shouted the security guard
as he burst through the double doors into the media room
at the Intercontinental Hotel in Riyadh, followed by
Saudi police. It was too late.

A private meeting of Opec leaders, gathered this weekend
in Riyadh for the cartel's third meeting in its 47-year
history, had just been broadcast to the world's media for
more than half an hour after a technician had mistakenly
plugged the TV feed into the wrong socket. The facade of
unity that the cartel so carefully cultivates to a world
spooked by soaring oil prices was shattered.

Sometimes, such innocent mistakes can have far-reaching
economic and political consequences. Commodity and
currency traders said this weekend that oil prices would
surge again tomorrow - possibly breaking the $101 per
barrel record set in the late 1970s - while the already
battered dollar would fall further on the back of the
unintentional broadcast.

-snip-

They said Opec should formally express its concern about
the weakness of the dollar when the cartel makes its
official declaration at the close of the summit today.
But the Saudis, the world's largest oil producers and de
facto head of Opec, vetoed the proposal. Saud al-Faisal,
the Saudi foreign minister, warned that even the mere
mention to journalists of the fact that leaders were
discussing the weak dollar would cause the US currency
to plummet.

-snip-

Read more: http://observer.guardian.co.uk/world/story/0,,2212899,00.html

[whistle]

1. Is there a link to the video?

[glowing]

2. Hmmm... Me thinks the fly on the wall was on purpose... how else

do you continue to soak people... Happy Holidays for the Opec thieves.

[wordpix]

3. I dn't think the Saudis want the $ to drop any more---they are heavily invested in our corporations

or multinational ones that trade with dollars

[Strelnikov_]

4. ". . warned that even the mere mention to journalists . . would cause the US currency to plummet"

Saud al-Faisal, Saudi foreign minister, warned that even the mere mention to journalists of the fact that leaders were discussing the weak dollar would cause the US currency to plummet.

Well, sir, I would say that Gen. Ripper . . oops . . the Saudi foreign minister . . . has already invalidated that policy!