Hostage Incident Continues in Saudi, 16 Already Killed

[janswizard]

Janswizard - finding alternative sources of fuel has never been a "priority". We kept bowing to the oil companies wishes.

Ya know, I heard the most RIDICULOUS remark just the other from Senator John McCain of Az, he said to eleveate this current fuel crisis, we need to invest in more nuclear energy! Now HOW IN THE HADES investing in NUCLEAR POWER help with the "gasoline" crisis What a STUPID remark, I don't EVEN lay claim to him

Dennis

LOL, Dennis. That's how I feel about John Kerry from my home state. Do some of these people even hear what's coming out of their mouths?

[Guest]

Nuclear power would mean less power produced by power stations feeded
with oil. Just imagine how much power you use to run all the air conditioner
around the USA...

[Guest]

The "world" tends to like the USA and its people, they just disagree with the governments foreign policy.

amen!

[janswizard]

Asian Oil Markets up 76 cents a barrel of oil - what will it be like here tomorrow?

http://quote.bloomberg.com/apps/news?pi ... Y&refer=us

Crude Oil, Gold Prices Rise After Terror Attack in Saudi Arabia

May 31 (Bloomberg) -- Crude oil and gold prices rose after the third terrorist attack this month against foreign workers in Saudi Arabia left 22 dead over the weekend, raising concern higher fuel costs may slow global economic growth.

Oil for October delivery rose 520 yen a kiloliter (76 cents a barrel), to 22,890 yen a kiloliter ($33.29 a barrel) on the Tokyo Commodity Exchange, Asia's biggest energy-futures market. Gold, seen as a haven from declines in equity markets, rose as much as 0.5 percent to $395.82 an ounce for immediate delivery, as Asian stocks fell.

Saudi Arabian security forces yesterday stormed a housing compound in the city of Khobar used by international workers and rescued 25 people held hostage by gunmen. Crude prices have risen 40 percent in the past year on the New York Mercantile Exchange, the world's biggest energy market, partly because of attacks in Iraq and Saudi Arabia in the past two months.

``It's all about Saudi Arabia and what they will do. If they have problems inside their own borders, it shows a bleak picture,'' said Michael Preiss, chief investment strategist at CFC Securities Ltd. in Hong Kong, a unit of Switzerland-based CFC Group. ``It's a wake-up call for Saudi Arabia to really be decisive and communicate the message that the situation is under control.''

New York and London, the world's two biggest oil futures markets, are closed Monday for public holidays.

[Guest]

No worries, oil's going to finish by 2050 (2046 to be precise)