A Quote by William E. Simon
For the U.S., the primary interest is our continued access to Saudi Arabian oil in adequate quantities... at an acceptable political as well as economic price.
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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.
Speculation in oil stock companies was another great evil ... From the first, oil men had to contend with wild fluctuations in the price of oil. ... Such fluctuations were the natural element of the speculator, and he came early, buying in quantities and holding in storage tanks for higher prices. If enough oil was held, or if the production fell off, up went the price, only to be knocked down by the throwing of great quantities of stocks on the market.
We clearly need to break our addiction on Saudi Arabian oil that is a security threat to the United States.
Already, China has undermined U.S. foreign policy in efforts to gain access to oil resources in Iran and Sudan. We simply cannot separate the political and economic values of oil.
Asia is rising economically - and is thirsty for oil. The price pressures on oil and oil price shocks, due to Asia's economic rise, mean that all steps made now to reduce oil dependence will protect us from pain and volatility later.
There are no military options for Iran. Attack them, and they will destroy the Gulf States oil industries, rain hundreds of missiles onto Israel, close the Arabian Gulf, and shoot oil prices to $300 per barrel, which could cause our own economic downfall.
I want to give a shout-out to all my Saudi Arabian brothers and sisters. If you could all please send me some oil for my jet, I would truly appreciate it.
It follows that America's primary interest is to help ensure that no single power comes to control this geopolitical space and that the global community has unhindered financial and economic access to it.
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 a very responsible country. For decades, we used our oil policy as responsible economic tool and isolated it from politics.
A Saudi Arabian prince has said that oil may never again rise above $100 a barrel. He said it's gotten so bad he can't afford to buy his wife her own car that she's not allowed to drive.
All of the government's monetary, economic and political power, as well as its extensive propaganda machinery, will be enlisted in a constant battle to drive down the price of gold - but in the absence of any fundamental change in the nation's monetary, fiscal, and economic direction, simply regard any major retreat in the price of gold as an unexpected buying opportunity.
If we had continued making progress at the rate we were during the Carter administration, we would be free of oil imports from Saudi Arabia today.
Nigeria, with the oil sector, had the reputation of being corrupt and not managing its own public finances well. So what did we try to do? We introduced a fiscal rule that de-linked our budget from the oil price.
As a Saudi journalist starting my career right after the oil boom of the 1970s, I witnessed the phenomenal growth and expansion of Saudi businesses and the pivotal role the leaders of these firms played in building the modern Saudi economy.
The Saudi, Arabian ruling class, for example, have rights because they are performing a service for Western power, ensuring that oil profits go to the West and not to the regional population. The local gendarmes like Israel, Turkey and so on have rights, at least in their ruling groups. Others do not.
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