Oil prices have risen after emergency talks among the world's top oil powers and leading consuming nations over the weekend ended with no real resolution.
This prompted Saudi Arabia, the world's top exporter, to call a summit in Jeddah with top energy policy makers to discuss the situation.
Before the meeting, Saudi Arabia had pledged to lift daily quotas to 9.7 million barrels by the end of July, an increase of about 500,000 barrels since May.
But without specific commitment from other members of the producers' cartel Opec to lift production, the market considered that Saudi Arabia's move would not be enough to meet soaring demand, especially from fast-growing emerging economies such as China and India.
'without specific commitment ' (?)
Isn't this comment typical of the media?
Specific comment? Have they forgot oil production is the only tool Muslims have to protect themselves from israel and the US?
I don't think so.
Shall we keep reading between the lines? China signed Iran to long term oil production. Non-US aligned oil producers will NEVER willingly give us a drop. Period. China will take all it can get at any price. Maybe that is why Israel was sabre rattling with Iran this past week. Bush isn't done yet, but there will be no doubt of the outcome if Iran is invaded for any reason - the fate of that incursion will not be in the hands of lethargic Americans.
World protests over high oil prices are all pointed at consequences of Bush's policies. And Americans in general, because they won't do anything to stop him. Such as impeachment, or criminal charges. Those things are too little too late with China and India turning the oil 'tap' on full flow.
Think it will be interesting to see how this all plays out? Like, for instance, the recent spate of female suicide bombers in Iraq?
I must ask, "what possesses a woman to strap a bomb to her body and blow herself up? A little misguided foreign policy?
Bush is a bad man. A bad businessman. He couldn't find oil in Saudi Arabia, hell, he couldn't hit water if he fell out of a boat. But he IS qualified to run this country.
Go figure.