UK, Saudi To Meet Over High Oil Prices

Link here.  From PennEnergy:

UK and Saudi are meeting regarding the high oil prices.

I have talked about the Saudi perspective several times since oil has risen above $100:

• Saudis might like what they're seeing
• Oil Falls to "Near" $104
• OPEC Can Increase Prices, Can't Decrease Them

The pundits initially said the price of oil spiked due to events in Libya, but everyone, including Saudi, said Saudi Arabia could make up the difference.

If the price of oil does not moderate significantly, that is, get back to $85 within six months, it will speak volumes about what Saudi can do, can't do, wants to do, doesn't want to do.

But "throwing Mubarak under the bus" certainly didn't help things.

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Update: you will note that the original post was 6:53 a.m. EST, April 6, 2011. Now it's being reported that Saudi is so unhappy with the Obama White House, they sent emissaries to China and Russia to enhance ties.

Reporting from Baghdad, Iraq yesterday, NBC’s Tom Brokaw said the Saudi Arabian monarchy is “so unhappy with the Obama administration for the way it pushed out President Mubarak of Egypt” that it has sent senior officials to the Peoples' Republic of China and Russia to seek expanded business opportunities with those countries.

I ran across this DrudgeReport link at 10:08 p.m. EST, April 6, 2011. Wow, even I'm impressed. My comment about Mubarak was an "add-on." I'm glad I decided to leave it in.