'Kill the cable, kill the cable,' Oil leaders' private debate televised by mistake

[seemslikeadream]

http://observer.guardian.co.uk/world/story/0,,2212899,00.html


Oil leaders' private debate televised by mistake


Tim Webb in Riyadh
Sunday November 18, 2007
The Observer


'Kill the cable, kill the cable,' shouted the security guard as he burst through the double doors into the media room at the Intercontinental Hotel in Riyadh, followed by Saudi police. It was too late.
A private meeting of Opec leaders, gathered this weekend in Riyadh for the cartel's third meeting in its 47-year history, had just been broadcast to the world's media for more than half an hour after a technician had mistakenly plugged the TV feed into the wrong socket. The facade of unity that the cartel so carefully cultivates to a world spooked by soaring oil prices was shattered.


Sometimes, such innocent mistakes can have far-reaching economic and political consequences. Commodity and currency traders said this weekend that oil prices would surge again tomorrow - possibly breaking the $101 per barrel record set in the late 1970s - while the already battered dollar would fall further on the back of the unintentional broadcast.
On Friday night, during what the participants thought were private talks, Venezuela's oil minister Venezuela Rafael Ramirez and his Iranian counterpart Gholamhossein Nozari, argued that pricing - and selling - oil using the crippled dollar was damaging the cartel.

[1932]

1. Fascinating.

[jpak]

2. but...but...but...the Chimp's buddy Bandar Bush will save us (not)

:puke:

[patrice]

3. I feel sorry for the technician. nt

[seemslikeadream]

4. yea he's probably running around without his head

[hermetic]

7. That was my thought

when I read it. Heads are gonna roll, literally.

[tom_paine]

11. Yeah. The Saudis do to their victims what the Bushies WISH they could do

Give it another two generations, so that those of us who remember what it was like to be free, the last of us, grow old and die.

But this technician probably won;t have to wait a month.

Whippings and imprisonment? Probably. Muredered? Possibly, but will the Saudis even bother to pretend it was a suicide or accident, like the Bushies still have to? Less likely.

Not that we will hear about it, anyway. Like us, that technician is a Filthy Little Nobody, in the eyes of the Busheis and Saudis, not even a human being, really.

Poor bastard. He's is severely fucked.

[Vexatious Ape]

12. Me too

He might find himself in Chop Chop Square.

[scarletwoman]

17. Yeah, good luck to the poor fellow, whoever he is. (nt)

[fed-up]

5. even the mere mention to journalists of the fact that leaders were discussing the weak dollar would

cause the US currency to plummet

from 3rd, 4th paragraph of story:

They said Opec should formally express its concern about the weakness of the dollar when the cartel makes its official declaration at the close of the summit today. But the Saudis, the world's largest oil producers and de facto head of Opec, vetoed the proposal. Saud al-Faisal, the Saudi foreign minister, warned that even the mere mention to journalists of the fact that leaders were discussing the weak dollar would cause the US currency to plummet.

Unfortunately his words and those of everyone at the meeting were being broadcast via a live television feed to a group of astonished reporters. 'I couldn't believe it,' said one who was there. 'When I realised they didn't know they were being broadcast live, I frantically started taking notes.'

[sarcasmo]

6. FUC$ the Oil Cartel.

We need to eliminate our need of the greedy bastards. The sooner we can come up with an electric car like the EV1 that can be made for under fifteen thousand the sooner we can give them our collective middle fingers high in the air.

[Vexatious Ape]

25. I'm with you on that.

We should have started boycotting Saudi oil on Sept 12 2001.

[Jackpine Radical]

30. We should have left Carter's solar collectors on the White House

and re-elected him in 1980 instead of letting the bastards feed us Reagan and the whole Republican Revolution. That was the point when the descent of the nation became inexorable. The Clinton years were nothing more than a few years of moderate Republicanism, an era of pigs in lipstick.

[supernova]

8. That would make Must See YouTube

:D

If they went off the dollar and went for say the Pound or the Euro, that really would be something.

Ole * really would be caught by the short and curlies.

[scarletwoman]

9. Wowee wow wow! Great find! k&r!

Folks, DO go to the link and read the whole piece!

Well done, seemslikeadream! :loveya:

sw

[seemslikeadream]

10. oh I just like reading the tubes

:hi:

[scarletwoman]

16. And the rest of us reap the benefits! Much appreciated! (nt)

[fasttense]

13. So, it has come to this?

The largest economy, market and Democracy in the world, and its dollar, has to be protected from even a hint of their true weakness by a Saudi Prince. All because the bushes got their Supreme Court to select him as president. Black-robed juntas have consequences.

[fed-up]

14. more at this thread posted by maddezmom

maddezmom (1000+ posts) Sun Nov-18-07 08:13 AM
Original message
OPEC agrees to study dollar concern: Iran

Source: AFP
OPEC agrees to study dollar concern: Iran 11 minutes ago
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3070122

[gulfcoastliberal]

15. K&R nt

[supernova]

18. Has this video made it onto the Net yet?

I was joking about YouTube, but seriously, has anybody seen it?

[TroubleMan]

19. So where's the video at?

I'd like to see it.

[patrice]

20. Another literal version of The New Testament in a nutshell:

Oil Royalty = Pilate
BushInc = Herod
ALL of the Innocent* Dead = Jesus
You = ?

*My thinking on this particular quality has been evolving; innocence would have to include those who were lied to. Lesson learned: *Never* let yourself be lied to.

...............

I know people think I'm a little cracked when I say things like this, but I mean every word of it in its most concrete sense.

[xchrom]

21. recommend

[Strelnikov_]

22. ". . warned that even the mere mention to journalists . . would cause the US currency to plummet"

Saud al-Faisal, Saudi foreign minister, warned that even the mere mention to journalists of the fact that leaders were discussing the weak dollar would cause the US currency to plummet.

Well, sir, I would say that Gen. Ripper . . oops . . the Saudi foreign minister . . . has already invalidated that policy!

[seafan]

23. Well, the cat's out of the bag now.

This is what we have to look forward to, folks.



November 18, 2007

.....

Opec only realised that the leaders' row was being broadcast to the world when the Reuters news agency put out a report of the argument.

The weakness of the dollar is one reason why oil prices are so high, as cartel members seek to compensate for their lower earnings. This means a further drop in the dollar is likely to be accompanied by a rise in oil prices.

[Greyhound]

24. K & R

:kick: & R

[Truth2Tell]

26. K&R, thanks as usual SLAD! n/t

[spanone]

27. so, why ain't it on youtube?

[dmr]

28. Isn't there a deal with the Sauds

to keep the cartel from going Euro? I'm not sure exactly what or how the deal is worked, no doubt both sides benefit in more ways than one. I remember back several years ago, before Bush* & Cheney lied their way into the Iraqi invasion, we had a discussion here in DU about the concern of the cartel going Euro. If I remember correctly, there was a concern about Saddam wanting to go Euro.

I only remember what I've written, and I confess, I honestly don't know how it works; but I mention it hoping someone else can offer more insight.

[al bupp]

29. Yet another web-mined gem

Brought to us by the inimitable SLAD. Nice job, lass. It's always good to get a peek behind the vail. The upshot, the dollar's toast and get ready for oil prices beyond anything we've yet seen. Forget $100/barrel, that'll seem like a dream when we're at twice that. It'll happen w/in 2 years, mark my words. Neatly timed to coincide w/ the 1st troubled year of the new Democratic administration in the White House.

[Jackpine Radical]

32. Indeed, I misdoubts me not that you have the right of it.

Time to buy Euros with your spare shekels. OPEC will NOT go to the pound, for both political and economic reasons.

[Jackpine Radical]

31. Accident or "accident?"

Maybe a shot across our bow?

Quick, somebody find out what stocks Buzzy Krongard is short on this time.

[AzDar]

33. K & R....

:kick:

[momster]

34. The Jawbone of the Ass

Didn't ol' GWB promise that he'd 'jawbone' those mean ol'sheiks into keeping oil prices down? How's that working there, junior?