Thaw reflects reality: U.S. relies on Saudi oil

The high-level American turnout in Riyadh on Friday, with Vice President Dick Cheney leading a delegation that included the former president George H.W. Bush as well as the former secretary of state Colin Powell to meet the new king of Saudi Arabia, Abdullah, was the latest in a series of steps that have thawed relations between the two countries after the strains of Sept. 11, 2001.

It was also the acknowledgment of a simpler fact: Like it or not, the United States is more dependent than ever on Saudi Arabia.

The kingdom is the world’s top oil exporter, owns a quarter of the world’s proven oil reserves and is the main power broker within OPEC, the global cartel of oil-producing nations. The United States is the world’s top consumer, its production is on the wane, and it is increasingly worried about rising competition from Asia’s developing economies for energy supplies.

International Herald Tribune