Monday, May 12, 2008

Expect More of This...

Expect a lot of this in the future, until the reality of flat or declining petroleum production finally penetrates through the thick fog of delusion that envelopes current political discourse in the U.S.

Saudi smile likely for Bush on oil plea, not more
by By Tabassum Zakaria , Reuters
...During his last visit to Saudi Arabia in January, Bush called on OPEC to increase production, but the plea fell on deaf ears, and oil prices have since jumped more than $30 to a record $126 a barrel.

He was expected to again urge that OPEC increase production. But analysts say the request would be largely symbolic to show the American public that he was trying to do something about high oil prices, rather than based on any expectation that it would lead to action by Saudi Arabia, the world's largest oil exporter, and OPEC, which is next scheduled to meet to decide oil output policy in September.

"I can't see that it will work this time, it didn't work the first time," said Robert Ebel, senior adviser on energy at the Center for Strategic and International Studies.

What is the president likely to come away with? "Just smiles and a handshake, that's about it," Ebel said...

How long before even the smiles and the handshake disappear?

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