[ohanian]

http://money.cnn.com/2005/06/29/markets ... /index.htm

In an effort to cool prices, the Organization of the Petroleum Exporting Countries is expected to decide on an output increase of another half a million barrels this week even though it is already pumping crude near its highest level in 25 years.

The output increase comes despite assurances from Saudi Arabia that it is already supplying all the crude that its customers want.

"The Saudis have been unable to find customers for additional oil despite having offered it," said brokerage Refco in a report.

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I guess the oil that nobody wants must have tasted like sour grapes.

We should call it sour grape crude oil.

[I_Like_Plants]

Poor, poor oil. You know, I once sat on a black rock on the beach and instead it was a big glob of hardened oil!! Yuck! At that point, I certainly didn't want it.......

[RonMN]

I read someplace that the saudis have a field drilled & ready to be pumped at 1 milliob BPD but there are no refineries in the world that can process this oil.

Then i read another article that china was spending X-billions on new refinery capacity...if china builds a refinery that can process this oil they'll be in a better energy situation than they are today.