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Saudis exports up sharply in past week

Reuters -- Saudi Arabia has raised oil exports and the United States is considering releasing crude from its strategic reserves as oil prices hit nine-month highs on Friday and concerns deepened over Iran's nuclear program.

Brent crude surged to over $125 a barrel after the United Nation's nuclear watchdog issued a report flagging the potential military nature of Iran's nuclear program, following an aborted U.N. inspection mission to Iran this week.

The report heightened fears of a supply disruption and could stoke worries in Israel, which has threatened Iran with pre-emptive strikes on nuclear sites. That would send shockwaves across the region and almost certainly drive oil prices even higher.

Top oil exporter Saudi Arabia increased exports over in the past week and offered additional crude to i


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Submitted Feb 25, 2012 By: jem069
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 28, 2012 5:56:56 AM

market prices drop for crude, but the pump prices don't budge (b/c it means more Billion profits for Pig Oil).
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gass12
Champion Author Omaha

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Message Posted: Feb 26, 2012 4:54:07 PM

At lease there is no shortage.
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dsaine
Champion Author North Carolina

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Message Posted: Feb 26, 2012 7:52:58 AM

Excellent
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SavingInNC
Champion Author North Carolina

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Message Posted: Feb 26, 2012 7:35:45 AM

Good
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numbers
Champion Author North Dakota

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Message Posted: Feb 26, 2012 7:32:47 AM

Good for them and should help us
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quasar502
Champion Author Lansing

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Message Posted: Feb 26, 2012 5:12:11 AM

Very good.
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chuckwthompson
Champion Author Charlotte

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Message Posted: Feb 26, 2012 3:39:54 AM

Oh, Obama will fix everything... He will just bow to them and tell them that we apologize for all the things that America did to them.

I'm sure that will do it! If that doesn't work he will sic Michelle on them!
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tomok
Champion Author Portland

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Message Posted: Feb 26, 2012 3:06:36 AM

Saudis exports up sharply in past week because other countries have been cutting into their profits. Saudis produce cheaper oil, making the other oil more expensive and not profitable to produce. The other country suppliers cut back and buy more Saudi oil, increasing the Saudis profits.
Whatever the size or shape of the vehicle is, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using ‘other’ forms of transportation to help lower your cost.
The price of fuel at the pump is too high!
12/22/2012!
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jorod55
Champion Author California

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Message Posted: Feb 26, 2012 1:16:21 AM

If all our transportation and energy go to electric and nat gas...
Guess they will have to eat their oil.
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Feb 26, 2012 12:57:54 AM

Good post gasokie....
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us4usa
Champion Author Missouri

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Message Posted: Feb 26, 2012 12:31:06 AM

They are making big bucks now...
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cateyes8264
Champion Author Tennessee

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Message Posted: Feb 26, 2012 12:22:37 AM

The speculators will just keep driving the price up.
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southrob
Champion Author Tucson

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Message Posted: Feb 26, 2012 12:22:08 AM

we should be keeping our oil here to help our economy instead of importing it
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ron98146
Champion Author Seattle

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Message Posted: Feb 26, 2012 12:21:50 AM

now how does supply and demand work?
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Beboper
Champion Author Virginia

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Message Posted: Feb 26, 2012 12:18:42 AM

greed that is all it is
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Number43
Champion Author Lexington

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Message Posted: Feb 26, 2012 12:14:29 AM

There is no REAL need for more oil but the speculators will buy everything at the moment.
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Number43
Champion Author Lexington

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Message Posted: Feb 26, 2012 12:13:35 AM

The saudi's just want to make some extra cash.
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jkpsr
Champion Author New Jersey

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Message Posted: Feb 26, 2012 12:11:54 AM

This is to prevent the price of oil to increase quickly when Iran is embargoed.
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jetskijerry
Champion Author North Carolina

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Message Posted: Feb 26, 2012 12:10:44 AM

The rich get richer.
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gocatgo
Champion Author South Carolina

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Message Posted: Feb 26, 2012 12:10:03 AM

Where's old w Bush when you need someone to hold hands with a Saudi Prince to do some serious sucking up.
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esquared
Champion Author Oklahoma City

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Message Posted: Feb 26, 2012 12:09:57 AM

Conserve, baby, conserve!
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bra0712
Champion Author Arizona

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Message Posted: Feb 26, 2012 12:09:53 AM

Duh
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judgemobile
Champion Author Ohio

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Message Posted: Feb 26, 2012 12:08:04 AM

Saudis have THEIR interests in mind, and Bummer bows down to them, as we have seen.
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RAKARWOWSKI
Champion Author Chicago

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Message Posted: Feb 26, 2012 12:07:39 AM

They will make big money!
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edamp04
Champion Author Fort Worth

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Message Posted: Feb 26, 2012 12:07:08 AM

Another war
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gasokie
Champion Author Oklahoma

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Message Posted: Feb 26, 2012 12:04:30 AM

Don't get too excited and think the Saudi's like us any. They want to feed us enough oil to keep our economy going. Their economy is still based on the dollar too and our ability (and their other customer's) to keep on buying their oil.
And you can be sure the Iranians are "smoking'" over all this. They hate the rich Saudi bunch and eventually will try to get even.

If Israel should attack Iran this April or so...Look out. Although there will be plenty of oil for about 90 days, the price will be outlandish. Just the hint of it is causing refiners to bid up futures and i don't blame them. They have to have oil to keep their refineries going.

If Iran does their preempt strike and close the gulf off (easily done by mining) it will be the same effect. It will take our navy several days to clear it out presuming they don't keep on mining. Our navy can whip their navy but that's not the immediate problem. Iran has a lot of small boats and several larger vessels (20 submarines I read) ... Enough to keep things all blocked off for a few weeks...and that's all it takes. No tankers will even try it. Insurance companies won't let them.

And who is to say a dragged out snippin' war won't develope out of this thing. Lord knows we're not going to nuke 'em. Or will we?
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hamdriver
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Message Posted: Feb 26, 2012 12:02:54 AM

Scam
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blah2blah3
Champion Author Houston

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Message Posted: Feb 26, 2012 12:02:15 AM

ok
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eswi
Champion Author Madison

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Message Posted: Feb 26, 2012 12:01:58 AM

OK
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LostAgain2009
Champion Author New Mexico

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Message Posted: Feb 25, 2012 11:56:30 PM

Well whoop-de-doo!
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tippybuddy
Champion Author Ontario

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Message Posted: Feb 25, 2012 11:54:13 PM

I agree it's the speculators
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Feb 25, 2012 11:53:14 PM

Interesting...
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PoohMcGoo
Champion Author Alabama

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Message Posted: Feb 25, 2012 11:51:27 PM

They don't want to push us to electric cars..
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teamdist
Rookie Author Greensboro

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Message Posted: Feb 25, 2012 11:51:16 PM

george Bush strikes again.
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Cuzilla
Champion Author Indianapolis

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Message Posted: Feb 25, 2012 11:50:43 PM

When the price is high, they will pump more oil - it's a no-brainer!
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gd83goldwinger
Champion Author South Bend

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Message Posted: Feb 25, 2012 11:48:26 PM

The speculators are causing the worries.
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carman11
Champion Author North Carolina

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Message Posted: Feb 25, 2012 11:48:08 PM

And the rest of the story is????
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egd
Champion Author Twin Cities

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Message Posted: Feb 25, 2012 11:46:34 PM

how long will their last
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drobbbb
Champion Author Maryland

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Message Posted: Feb 25, 2012 11:46:17 PM

hopefully it helps
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abcdMA
Champion Author Worcester

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Message Posted: Feb 25, 2012 11:40:06 PM

that should resolve a lot of the Iranian cutback
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raj_fl
Champion Author Trenton

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Message Posted: Feb 25, 2012 11:39:49 PM

mmmm
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Beaveronparade
Champion Author Hartford

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Message Posted: Feb 25, 2012 11:36:12 PM

I agree that we need production here. We need to be independent.
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daquanabe
Champion Author Houston

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Message Posted: Feb 25, 2012 11:35:19 PM

We need more production in the US, while we are working on creating new, and viable, alternatives for the future.
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LaVonneK
Champion Author Iowa

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Message Posted: Feb 25, 2012 11:34:05 PM

Gas prices are not about supply and demand.
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bevmill
Champion Author Georgia

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Message Posted: Feb 25, 2012 11:33:09 PM

We go to produce other alternatives!
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chequenman
Sophomore Author Ontario

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Message Posted: Feb 25, 2012 11:30:56 PM

Who's chain is being pulled Iran's or Israel's.

[Edited by: chequenman at 2/25/2012 11:36:11 PM EST]
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TedNC
Champion Author North Carolina

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Message Posted: Feb 25, 2012 11:30:19 PM

Saudi pumps more oil and the prices are still going up. Doesn't sound like the rules of supply and demand apply here.
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Felixx
Veteran Author Seattle

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Message Posted: Feb 25, 2012 11:29:43 PM

We need alternatives!
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kmaesad
Rookie Author Charleston

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Message Posted: Feb 25, 2012 11:26:09 PM

Wish that I had bought stock in oil yrs ago, boy I'm paying for that now....
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gsofrs
Champion Author Greensboro

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Message Posted: Feb 25, 2012 11:21:49 PM

Hurts Iran some.
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