US-Saudi oil axis faces day of truth
Date: Thursday, May 15 @ 20:40:38 PDT
Topic: Public Policy; Political and Legal News


When President George Bush went to see Saudi Arabia's King Abdullah in January to plead for higher oil output, he was politely rebuffed.

President Bush shares a laugh with Saudi Prince Salman, brother of Saudi King Abdullah The rematch is likely to be a great deal more strained.

If the Saudis deny help once again, they risk incalculable damage to their strategic alliance with Washington. The price of crude has rocketed by over $30 a barrel since that last fruitless meeting, briefly touching the once unthinkable level of $127.

Goldman Sachs fears a "super-spike" to $200 a barrel this year.

Asked what he would tell King Abdullah this time, Mr Bush said caustically: "the price is even higher."

Telegraph





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