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| Topic: Saudi Prince calls for lower oil prices | |
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(CNN) -- Saudi Prince Al-Waleed bin Talal said Sunday that he wants oil prices to drop so that the United States and Europe don't accelerate efforts to wean themselves off his country's supply.
In an interview broadcast Sunday on "CNN's Fareed Zakaria GPS," the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel. "We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives," said Talal, who is listed by Forbes as the 26th richest man in the world. He blamed continuing uncertainty over political stability in the region as well as disruptions in supply tied to unrest in Libya and Bahrain for the current high oil price. "You're not 100% sure what is going to happen, because you hear once in a while Iran coming and jumping and antagonizing and intimidating the Gulf region," the prince said. "So, there's a worry." A major investor in the United States, the prince said the country remains a desired investment target because of its stability. "At the end of the day, the United States is down, for sure, but it is not out," Talal said. Asked about the so-called Arab Spring protests reshaping the political landscape in the Middle East and North Africa, he said the level of unrest in his native country is far below that of other countries because of economic stability and the love of the Saudi people for the monarchy. Still, the prince said, Saudi Arabia needs to "enact some new laws whereby the participation of the people has to be done, one way or another." http://www.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/index.html?iref=NS1 |
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so he lowered them?
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(CNN) -- Saudi Prince Al-Waleed bin Talal said Sunday that he wants oil prices to drop so that the United States and Europe don't accelerate efforts to wean themselves off his country's supply. In an interview broadcast Sunday on "CNN's Fareed Zakaria GPS," the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel. "We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives," said Talal, who is listed by Forbes as the 26th richest man in the world. He blamed continuing uncertainty over political stability in the region as well as disruptions in supply tied to unrest in Libya and Bahrain for the current high oil price. "You're not 100% sure what is going to happen, because you hear once in a while Iran coming and jumping and antagonizing and intimidating the Gulf region," the prince said. "So, there's a worry." A major investor in the United States, the prince said the country remains a desired investment target because of its stability. "At the end of the day, the United States is down, for sure, but it is not out," Talal said. Asked about the so-called Arab Spring protests reshaping the political landscape in the Middle East and North Africa, he said the level of unrest in his native country is far below that of other countries because of economic stability and the love of the Saudi people for the monarchy. Still, the prince said, Saudi Arabia needs to "enact some new laws whereby the participation of the people has to be done, one way or another." http://www.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/index.html?iref=NS1 This is the same Saudi Prince that was running his mouth bad mouthing America in the days, weeks and months after 9/11. Hell he is just worried about his meal ticket. If we find another source for Oil or an alternative then he will have to find another way to support his four wives, multiple children and toys like this (the Kingdon 5KR, ONE of his personal yachts. it has five decks, a disco, a cinema with seats for 12 and 2 double beds, 11 opulent suites, a helipad on top (its smoke stacks are sloped outward to avoid interference with the helicopters), a pool with a water jet on top in front of the heliport and 2 Riva tenders. 
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Hell, He has ordered a new yacht currently known as the New Kingdom 5KR which will be about 173 meters (557 feet) long and carries an estimated cost of over $500 million. The yacht is rendered by Lindsey Design and is expected to be delivered in late 2010.
Al-Waleed owns several aircraft, all converted for private use: a Boeing 747, an Airbus 321 and an Hawker Siddeley 125. Also on order is an Airbus A380, the world's largest passenger aircraft, which is scheduled for delivery in 2012. This has been noted in the 2009 Guinness World Records as the largest private jet in the world. Al-Waleed also owns more than 200 cars, including Rolls Royces, Lamborghinis, Ferraris etc. |
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Here is a description of his three main houses with their nicknames.
Kingdom Resort ~ It contains three lakes integrated with splendid gardens. This is where he entertains his guests. Promotion Palace ~ This palace is frequently shown in videos for the promotion of public relations which is why locals have dubbed it as "Promotion Palace". It has three swimming pools and large splendid palace. The mosque on the left and the palace next to it are also his. According to Time Magazine "Al-Waleed and his four wives live in Riyadh, Saudi Arabia in a $300 million sand-colored palace whose 317 rooms are adorned with 1,500 tons of Italian marble, silk oriental carpets, gold-plated faucets and 250 TV sets. It has four kitchens, for Arabic, Continental and Asian cuisines, and a fifth just for dishing up desserts, run by chefs who can feed 2,000 people on an hour's notice. There is also a lagoon-shaped pool and a 45-seat basement cinema". Kingdom Oasis ~ Still under construction this 4 million square metre luxury resort will include a 70,000 square metre lake and a private zoo. 250 TV's? 3 Swimming Pools? His own Mosque? Four kitchens? Why the hell do you need all of that stuff? |
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I could care less how he spends his money, but when it comes to my money, I am all about the lower oil prices. If they want to do it and it benefits us in the end, why the hell NOT?
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I guess since he is now satisfied with his billions he is okay with dropping prices. Would he have asked this if he didn't have such tremendous amounts of money?
Greed is the doom of our planet. Unfortunately no one realizes this and so we will watch it get worser then better for everyone who doesn't have such tremendous amounts of capital. |
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He might have to get rid of a couple of his wives, some of his many yachts, mansions and private airplanes (That are the largest that any private person owns).
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He might have to get rid of a couple of his wives, some of his many yachts, mansions and private airplanes (That are the largest that any private person owns). Yay perhaps ditching the wives would save him millions.... |
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He might have to get rid of a couple of his wives, some of his many yachts, mansions and private airplanes (That are the largest that any private person owns). Yay perhaps ditching the wives would save him millions.... He would save millions in credit card bills alone by getting rid of them. Women burn through money. |
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