Will the Saudi oil summit result in lower fuel prices?

Question

Will the Saudi oil summit result in lower fuel prices?

Answer 1

I just watched CNN’s  international Channel(3pm EST), breaking  the news that oil price spikes again.  But the anchor and the reporter assert it is China’s diesel demand contributed to the hike.

Waited a sec !  It is already THIRD time I am hearing CNN’s assertion of China’s diesel demand. The first time was about two weeks ago. What’s going on?

Then, Israel’s-Iran-attack-drill news flashing back-------Which Was Just Happened This Morning !  That “unmistakable signal”  is surely an act to have a consequence of  oil supply disruption !  Why is it not reported as a oil spiking cause ? !

Time to scapegoat China again before a major offensive ? To verify, I went to CNN web site , there it is :

China hikes fuel prices http://money.cnn.com/2008/06/20/news/int...  

China to raise energy prices

http://money.cnn.com/2008/06/19/news/int...

But  nowhere saying that Israel’s-Iran-attack-drill  will unstablize the oil supply region, causing the oil  price up.

For Israelis Iran Strike Drill see

http://www.jpost.com/servlet/Satellite?c...

Answer 2

doubt it.

Answer 3

I would not hold my breath on it . No because it's the international bankers who control the price .

Answer 4

Very unlikely.

Closing certain commodities off the futures markets is the only viable long term solution. (Oil, basic food stuffs would be the main two areas that could see the whole world benefit.)

If some speculators get burned in the process, so what? They caused the mess in the first place with their greed.

Answer 5

George Bush is the only terrorist. when do republicans like to sort things out by talking, to them it's just shoot shoot and shoot some more.