[J-I-GG-A]

Originally Posted by viel cazzo

You can't blame the Saudi's ... Hedge funds are really driving prices up since they can't invest the majority of their funds in Real Estate (like they did the last 6 years). They are playing the energy sector and causing prices.

On top of that you can factor in China and India's added consumption as well as the natural diseasters suffered as of late and it equals the perdicament we are in.

Now can you blame the Saudi's for not raising output? I mean there is only so much oil held by them why should they be told you must shorten you legacy (by providing the world with unlimited output at the request of every Tom Dick and Harry.)

I don't think their ability to pump out more barrels a day is the key factor in their influence on the market. Their influential power over the rest of middle east especially the business sector and the gulf region is the most significant tool they have. The royal family has a lot of business interests not just in US, but all over the Middle East. I think their "I'll rub your back, you rub my back" attitude will play heavily in raising Oil output and put a lot of speculations that drive the market sky rocketing down.