Here's my two cents on the high gasolie price, ahem. Saudi Aramco, the crude oil producing private company owned by the Saudi Arabian Royal Family, that is eight times bigger than Exxon-Mobil, and the world leader in selling crude oil used to have a big worry. Their great big BIG worry was their northern neighbor, Saddam Hussein & Iraq. They were worried that Saddam would attack Saudi Arabia.
Now that Saddam is in jail, and Iraq is at war, the Iraqi threat of invasion is gonzo, so they can slowly raise oil prices. The dynamics of the Arab oil producing world changed with Iraq at war. It's like a chess game.
A phoney-baloney conversation inside the Saudi oil ministery.
"Oh my, why do those infidel Americans get our oil at the same old price. Yes, we can raise our prices. After all, that no-good Saddam is in jail. What can he do? And what can the Americans do?
Just my two cents but it sure makes me wonder why gasoline prices have gone up so much since we invaded Iraq on March 14, 2003.
Maybe next year's Winnipesaukee motor boats will be built with an auxiliary sail just like 100+ years ago when they had both sail & steam?
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