 WASHINGTON - Record crude oil prices above $70 per barrel are not in the interest of the world’s largest producer or its largest consumer, Saudi Arabia Oil Minister Ali al-Naimi said on Tuesday. “Prices at these levels are not in the interest of either Saudi Arabia or the US,” Naimi said in prepared remarks at a joint appearance with US Energy Secretary Sam Bodman at the Center for Strategic and International Studies.
"He's lying!"
"How can you tell?"
"His lips are moving. On the floor." |
Naimi said that cutting reliance on foreign imports will not boost energy security as US President George W. Bush has asserted. “A popular misconception these days is that a country can decouple its domestic oil prices from international prices by lowering imports,” Naimi said. |