The Saudi’s Biggest Fear

By Deane Barker on June 22, 2008

Saudis get serious on oil prices: Viewed objectively, this is awful. The Saudi’s are apparently seeing what happens when gas gets expensive — we get more responsible and develop more efficient technology — and are terrified of it.

The Saudis are widely believed to be concerned that escalating oil prices – crude hovered around $134 a barrel Thursday, nearly double what it cost a year ago – will cause a permanent drop in demand as consumers get more efficient or, worse, the global economy slows.

”[..] a permanent drop in demand.” That’s great for us. Horrific for them. They simply have to keep us addicted to oil. Put another way, they are not doing this to help us.

I’ve said before that the Kingdom’s biggest fear is a country full of Priuses (Prius animosity of late nonwithstanding). They’re trying to stamp that out by keeping us sucking down cheap oil.

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Comments

  1. Hey Deane,

    Just wanted to say I love the environmental direction you’ve been taking lately… I come here for the DB articles, but it’s nice to see you caring about this issues more and more.

    I am now working on a new green start-up, and if you’re interested I would love to have you on the alpha test when it comes and get some feedback.

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