Saudis to Bush: So Sorry, But That Uranium Looks Tempting (Photo: At least somebody's happy!)

[Bluebear]

"Well, somebody's happy."

Let’s recap: Today, President Bush made his second visit this year to Saudi Arabia to plead for increased oil production that could take the sting out of relentlessly rising oil prices.

So, where do we stand? The Saudis can’t help, Bush national security adviser Stephen Hadley told reporters. “What they’re saying to us is…Saudi Arabia does not have customers that are making requests for oil that they are not able to satisfy.” Which does raise the question—isn’t the U.S. a customer of Saudi oil?

But the Riyadh meeting wasn’t entirely fruitless. Despite coming up empty-handed on its oil request, the White House said it will offer Saudi Arabia more help protecting its oil infrastructure from terrorist attacks. Oh, and the U.S. will also give Saudi Arabia civilian nuclear technology so that Saudi Arabia can jumpstart its domestic energy transformation. From the White House this morning:

Our global economy depends greatly on Saudi Arabian energy. The U.S. has a keen interest in helping the Saudis protect their energy infrastructure against terrorism, as demonstrated by the unsuccessful terrorist attack against the Kingdom’s Abqaiq Plants in February 2006. To this end, the United States and Saudi Arabia have agreed to cooperate in safeguarding the Kingdom’s energy resources by protecting key infrastructure, enhancing Saudi border security, and meeting Saudi Arabia’s expanding energy needs in an environmentally responsible manner.

Remember this? Also from the White House, but a couple of years ago:

Keeping America competitive requires affordable energy. And here we have a serious problem: America is addicted to oil, which is often imported from unstable parts of the world. The best way to break this addiction is through technology. <…which> will help us reach another great goal: to replace more than 75 percent of our oil imports from the Middle East by 2025. (Applause.) By applying the talent and technology of America, this country can dramatically improve our environment, move beyond a petroleum-based economy, and make our dependence on Middle Eastern oil a thing of the past. (Applause.)

Meanwhile, oil prices raced to another record high Friday, near $128 a barrel. Goldman Sachs expects $141 a barrel in the second half of the year.

http://blogs.wsj.com/environmentalcapital/2008/05/16/saudis-to-bush-so-sorry-but-that-uranium-looks-tempting/?mod=WSJBlog

[gateley]

1. Remember when the $100/barrel price was way up there?

People would say, in hushed tones, experts say it could go to $100!

I think we thought that would be the ceiling. That when it reached that three-digit magic number, somehow we'd do something to put on the skids and turn it back around. That's what I thought, anyway.

And again, looking at the $141/barrel prediction, I find myself thinking -- surely they'll do something THEN. Yeah, continue to get richer, I guess.

[gatorboy]

4. Hell, I remember when $30 was way up there. Eight years ago.

And that wasn't that long ago, brother!

[tularetom]

2. OK let me get this straight

They have more oil than god. But they are converting to nuclear power to me their domestic energy needs.

Do they know something we don't about future oil supplies?

And this is the country that provided fifteen of the 9/11 hijackers. What guarantee do we have that this technology will not be used to manufacture nuclear weapons.

Why is bush appeasing this regime? Are they simply using him?

[marmar]

5. I'm convinced that the Saudis know that their oil supply has hit peak and is dropping quickly....

.... That's why they've been encouraging Herr Bush to invade Iran.

[OwnedByFerrets]

3. ...

Stephen Hadley told reporters. “What they’re saying to us is…Saudi Arabia does not have customers that are making requests for oil that they are not able to satisfy.”

This is probably a true statement from the Saudi's. This price increase we are seeing is purely "manufactured from speculation and air" and is doing its intended purpose.....making the oil companies richer.