Sunday, November 22nd, 2009

Saudi Arabia Agrees to Increase Oil Output After Crude Hits Another New High

May 19th, 2008 | By Jason Simpkins | Category: Oil Investment & Alternative Energy

Last week, Senate Democrats introduced legislation to stop a scheduled arms sale to Saudi Arabia unless the country opened its valves a little wider.

“When the President meets with King Abdullah Friday, we cannot settle for a smile, or a handshake, or even a glimpse into his soul,” Senator Charles Schumer of New York said. “We need a commitment to pump more oil. If Saudi Arabia and other OPEC countries do not substantially increase production, we in Congress will block their lucrative arms deals.”

It was also announced Friday that to help protect Saudi Arabia’s oil and it will help the world’s top crude exporter to develop peaceful nuclear energy.

“The United States and Saudi Arabia have agreed to cooperate in safeguarding the kingdom’s energy resources by protecting key infrastructure, enhancing Saudi border security, and meeting Saudi Arabia’s expanding energy needs in an environmentally responsible manner,” a White House statement said.

According to Reuters, the United States and Saudi Arabia will sign a memorandum of understanding to cooperate on a peaceful nuclear program.

“This agreement will pave the way for Saudi Arabia’s access to safe, reliable fuel sources for energy reactors and demonstrate Saudi leadership as a positive non-proliferation model for the region,” the White House statement said.

Source: Saudi Arabia Agrees to Increase Oil Output After Crude Hits Another New High

Pages: 1 2


AdvertisementJersey's Secret "Gold-Backed" Currency Set to Double

Located just off the coast of Great Britain is a tiny island with the world's leading "gold-standard" currency. Unlike the plummeting U.S. dollar, this money, the Jersey Note, is fully backed by gold, and will never lose value due to inflation or global chaos. Over the next 18 months, investment expert Peter Schiff expects it to hand investors 70-100% gains... while the dollar sinks further.

So why haven't you heard of this ultra-safe money yet? And how can you convert some of your plunging dollar savings into Jersey notes in about five minutes?

Simply CLICK HERE for the free report...



More on this topic (What's this?) Read more on Oil at Wikinvest

Pages: 1 2

Tags: , , , , , , , , , , , , ,

By Jason Simpkins

Related Articles



About the Author

Jason Simpkins is an Associate Editor of Money Morning.

See All Posts by This Author



Money Morning is the leading source of investment research on the global markets. Its free daily service provides news, research, investment opportunities and insights on international investing -- most of it well before it appears in the mainstream financial media.

See All Posts from This Publication

Leave Comment