A Quote by Fareed Zakaria
Street protests in Saudi Arabia might warm our hearts, but they could easily lead to $250 a barrel oil and a global recession.
Related Quotes
So, I think even in Saudi Arabia there is movement. And we have to remember that over the years they've stabilized the oil price and that is tremendously important for the economies of the world. I think we have no choice but to work with the government of Saudi Arabia.
Saudi Arabia is, of course, the keystone of OPEC. Saudi Arabia has had the distinction of remaining stable through all the escalating tumult of recent decades, reliably pumping out its roughly 10 million barrels a day like Bossy the cow in America's oil import barn.
Saudi Arabia is the bulwark of our relationship, especially when it comes to Iran, and without the partnership of Saudi Arabia and our other Gulf allies, we would not be able to have the maximum economic pressure campaign that we have.
The big risk in Saudi Arabia is that Ghawar's rate of decline increases to an alarming point. That will set bells ringing all over the oil world because Ghawar underpins Saudi output and Saudi undergirds worldwide production.
We have accomplished our mission of stopping Iraq's drive to take over Saudi Arabia and the rest of the Middle East. We should begin to reduce our forces in Saudi Arabia, ever so slowly, and look to a more multinational force to keep the peace.
You could pay a fair market price for a barrel of oil and cut 50 cents a barrel or a dollar barrel off what you're going to pay Mexico and use that money and put it towards to the building a wall. If they don't like it, too bad we're go buy the oil.
Americans want to democratise us. OK, but why not go and democratise Saudi Arabia. Are we anything like Saudi Arabia? No, we are far from that. So why aren't they democratising Saudi Arabia? Because they are bastards, but they are their bastards.
I saw a report yesterday. There’s so much oil, all over the world, they don’t know where to dump it. And Saudi Arabia says, "Oh, there’s too much oil." They -- they came back yesterday. Did you see the report? They want to reduce oil production. Do you think they’re our friends? They’re not our friends.
Traditionally, all the kings of Saudi Arabia have been sons of the founder of Saudi Arabia, and they've gone from one son to the next.
Saudi Arabian oil production is at or very near its peak sustainable volume (if it did not, in fact peak almost 25 years ago), and is likely to go into decline in the very foreseeable future. There is only a small probability that Saudi Arabia will ever deliver the quantities of petroleum that are assigned to it in all the major forecasts of world oil production and consumption.
Japan, Germany, South Korea, these are very rich, powerful countries. Saudi Arabia, nothing but money. We Americans protect Saudi Arabia. Why aren't they paying?
But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.
We have developed a case of oil addiction in Saudi Arabia.
Saudi Arabia is a very responsible country. For decades, we used our oil policy as responsible economic tool and isolated it from politics.
The U.S. economy will tank if either China withdraws its money from the U.S. Banks, or Saudi Arabia stops depositing its oil money in U.S. bonds, or even if the oil trade goes off the dollar.
You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.
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