Quote:
Originally posted by Sidd Finch
Saudi Arabia has long been aware that if oil prices get too high, there will be more pressure for efficiency and alternatives that will be detrimental to oil prices in the future. Since Saudi is one of the few countries that is likely to continue pumping at current volumes for a long period of time, this is their particular concern, and so they have long worked to manipulate prices to find the right balance point.
In other words, you already trust this process to politicians -- but to Saudi politicians, who are likely serving a different constituency with different concerns.
I'll leave the comment about the entire community of non-oil financed climate scientists (what you call "the global warming crowd").
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A. Interesting note, that many petrologists are giving serious credence to the thesis that the Saudis have far smaller reserves than we think. They may no longer have the ability to throttle down the price by seriously bumping production.
B. You do realize that this was all tongue in cheek, right? I just figured that, if we're all dumb enough to take seriously politicians whose response to rising gasoline prices is "let's send them a $100 check", then this would also count as serious discourse.
