Saudi Arabian King Abdullah Thinks Seven Generations Out, Will Leave Newly Discovered Oil Fields Untapped For Now

You’ve gotta give it to Saudi King Abdullah- he’s thinking about the children, well his children at least. He recently ordered some of his country’s latest discovered oil fields set aside for future generations.

Business 24|7 has it:

“I keep no secret from you that when there were some new finds, I told them, ‘no, leave it in the ground, with grace from god, our children need it’,” King Abdullah said in remarks made late on Saturday.

US President George W Bush in January urged the Saudi King to help tame soaring prices by encouraging Opec to pump more oil. On separate trips to Saudi Arabia this year, the US Energy Secretary also asked for more oil, while the Vice-President discussed high prices with the king.

I don’t think I really need to point out the ironic absurdity of this and will leave this one for you to work out. Happy Monday, it’s going to be a great week.

Link [Business 24|7]

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