14.02.2011 - WikiLeaks, media distort oil estimates
From Gulfnews.com: As good as they are, I hope WikiLeaks cables will not become our reference for everything that goes around the world — including the evolution of the oil market. The headline in the Guardian February 8, 2011 says: "WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices," as if Saudi Arabia's only mandate is to keep a lid on prices for the industrial west to enjoy everlasting growth at the expense of depleting developing countries resources. The article by John Vidal, the environment editor, goes on to say that "the US fears that Saudi Arabia, the world's largest crude oil exporter, may not have enough reserves to prevent oil prices escalating," thereby creating the impression that the country is running out of oil..............................................Full Article: Source
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