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Raymond J. Learsy: The Saudi Oil Summit. Pipeline to NowhereWhat was billed as a serious meeting between producing nations and consuming nations, held in Jeddah last weekend, turned out to be a Saudi public relations ploy playing on the concerns of those impacted by high oil prices. Nothing meaningful was accomplished, no significant change in policy oth... |
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Crude Rises Despite Saudi Supply Commitment - Nigerian Unrest ContinuesIn the energy market Monday, crude for August delivery debuted as the front-month contract by pushing higher, closing at $136.74/barrel, up $1.38. July reformulated gasoline rose 1.6 cents, to $3.4551/gallon. Traders were unimpressed by the results of the oil summit in Jeddah over the weekend, a... |
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Gold Plummets on Stronger Dollar - Traders Turn Exceedingly WaryGold was steady from the far East through the first half of London trading, holding at or near $905, but collapsed when the New York session opened, cratering more than $25 in the first hour before edging higher through the rest of the day and finishing at $883.70/oz., down $17.60 from Friday. Ov... |
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Nibbling the hand that supplies youBy Joseph RommSince when do we deal with our addiction by going to summits hosted by drug suppliers? Yet here is the Washington Post: "Saudi Arabian Oil Summit Hopes to Isolate Cause of Price Rise" JIDDAH, Saudi Arabia, June 21 -- Leaders from oil-producing and oil-consuming ... |
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[OIL PRICES] Global Oil Summit Addresses Issues But Produces Few SolutionsThe global energy summit held to discuss rising oil prices explored leaders' different agendas and opinions but offered few concrete results. A summit held June 22 in Saudi Arabia to discuss spiraling oil prices concluded in an ambiguous fashion as attendees left the meeting with largely differen... |
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Saudi oil summit achieved "absolutely nothing"The oil industry analysts are not impressed. Much like the McCain "let's drill offshore" the Saudi talk about expanding production is years away from being reality. The meeting was exactly the kind of fraudulent PR spin that many predicted."The only thing that's been achieved fro... |
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