Today’s “Holy Crap” moment

Saudi Arabia, at present still the world’s largest exporter of crude oil, has quit OPEC.

Their argument seems to be that they want to continue to meet market demand for oil supply, and OPEC are arguing that the current high price of oil is due to market speculation rather than actual scarcity. Early days yet but from what I’ve read both arguments have legs.

Regardless of who might be right, the global political climate just got a whole lot chillier.

Comments
2 Responses to “Today’s “Holy Crap” moment”
  1. Paul Raven says:

    Great publicity timing from the Saudis, there. Happy 9/11!

    I wonder if Germany will grant me citizenship?