Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

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Thread: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

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    Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Qatar says oil prices should top 100 dollars

    Qatar's energy minister said crude oil prices, which have surged recently to record levels above 80 dollars a barrel, should be more than 100 dollars.

    "If we take into account inflation from 1972 to the present day, the real and fair price for oil should be more than 100 dollars," Abdullah bin Hamad Al-Attiyah said in remarks aired by Al-Jazeera television on Tuesday.
    I personally will refrain from making any commentary on this news story.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Translation: Our production is declining so we need massive increases is pricing to compensate.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Well, when that's your only source of income, you wanna make as much profit out of it as possible.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    ^thats what i'm saying. Calling him names or talking crap about him, his country, or his people is just stupid. His counrty is involved in a business and he is making a business case.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Yeah, it's their oil, they can sell it for what they want (or at least say what they should be selling it for). It's our fault we're addicted and can't live without it.
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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Quote Originally Posted by paul8488
    Yeah, it's their oil, they can sell it for what they want (or at least say what they should be selling it for). It's our fault we're addicted and can't live without it.
    And its further our fault that we did nothing to treat our addiction for the last 30 years. We could have entered rehab with a fairly healthy liver, decent looking skin all of our teeth. Unfortunately, we're walking into the clinic looking like a desparate, disheveled crack ho in need of a fix.

    I hate high oil prices, but God help us if they suddenly drop. This country will completely relapse and forget about alternative solutions faster than we can book a tanning booth appointment. Now is essentially our last chance to do something, or else we're doomed to by a generation's time.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Well this is all the more reason America needs to apply the Algea Bio-Diesel tech we know we have today. Soon gas will be $100/barrel and America will definately slow down. Small cars wont be the answer then. We need more than higher mpg cars and trucks we need a new fuel. Period.
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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Adjusted for inflation, we're still paying less for gas than we were in 1981.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Quote Originally Posted by iamwin
    Translation: Our production is declining so we need massive increases is pricing to compensate.
    Actually Qatar has large gas reserves not oil. In fact the whole region is now pushing towards less dependence on oil. With the main focus on finance and manufacturing.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Quote Originally Posted by hrcslam
    Well this is all the more reason America needs to apply the Algea Bio-Diesel tech we know we have today. Soon gas will be $100/barrel and America will definately slow down. Small cars wont be the answer then. We need more than higher mpg cars and trucks we need a new fuel. Period.
    I fully agree. This in some form or another has to be our future. Hopefully it's 10 yrs away rather than 50 yrs away.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    Qatar is a small country and they don't have a lot of oil, so they will support any price hike.

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    Re: Qatar Oil Minister: Oil "Should" Be Over $100/ barrel

    During the late 1980s and early 1990s, the Qatari economy was crippled by a continuous siphoning off of petroleum revenues by the amir, who had ruled the country since 1972. His son, the current Amir HAMAD bin Khalifa al-Thani, overthrew him in a bloodless coup in 1995. In 2001, Qatar resolved its longstanding border disputes with both Bahrain and Saudi Arabia. Oil and natural gas revenues enable Qatar to have one of the highest per capita incomes in the world.

    Terrain: mostly flat and barren desert covered with loose sand and gravel[/QUOTE

    Executive branch:
    chief of state: Amir HAMAD bin Khalifa al-Thani (since 27 June 1995 when, as crown prince, he ousted his father

    cabinet: Council of Ministers appointed by the monarch
    elections: none; the monarch is hereditary

    Oil and gas have made Qatar one of the world's faster growing and higher per-capita income countries - in 2006 per-capita income equaled that of the EU. Sustained high oil prices and increased natural gas exports in recent years have helped build Qatar's budget and trade surpluses and foreign reserves. Proved oil reserves of more than 15 billion barrels should ensure continued output at current levels for 23 years. Qatar's proved reserves of natural gas exceed 25 trillion cubic meters, more than 5% of the world total and third largest in the world.

    Trafficking in persons:

    current situation: Qatar is a destination country for men and women from South and Southeast Asia who migrate willingly, but are subsequently trafficked into involuntary servitude as domestic workers and laborers; the problem of trafficking of foreign children as camel jockeys was thoroughly addressed by government action in 2005, but independent confirmation of the problem's complete elimination is not yet available
    tier rating: Tier 2 Watch List - Qatar has made noticeable progress in rescuing and repatriating child camel jockeys, establishing a shelter for abused domestic workers, and creating hotlines to register complaints; however, Qatar is placed on the Tier 2 Watch List for its failure to provide sufficient evidence of increasing efforts to combat trafficking in persons in 2005, particularly with regard to labor exploitation
    Source.

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