Saudi Production Announcement

The reader comments in response to this are comical.

Saudi slashes oil output, says market oversupplied

Some of the comments:

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Goldman-Sachs are the ones helping to keep the prices so high. They are speculating by taking positions in the millions of barrels and billions of dollars.

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Time to hang the market speculators from a tree!

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Strange isn’t it that the world has a glut of oil on it’s hands yet the price keeps going up?

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memo to saudi arabia: there is too much wheat being grown so we are cutting back. a bushel of wheat will now cost the same as a barrel of oil. don’t like? too bad, live with it

No one actually realizes that the Saudis are serial liars when it comes to information of oilfield geo-technichal, reserves, and production figures.

The common reaction by the posters on Yahoo provides a clear insight into human nature. It is the very same tendency that makes books and movies about omnipotent serial killers so popular. People would rather concoct a fantasy about some all powerful force, conspiracy or person, that contemplate the fact that certain horrible things are beyond the control of anyone that walks on two legs. Things just happen. Oil runs out…

This announcement by SA is 100% confirmation the Ghawar is in certain decline. No one wants to talk about the unthinkable truth….that this is all there is…

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