US urges oil output boost to ease prices

Source: rawstory.com

By Agence France-Presse
Tuesday, February 22nd, 2011 -- 4:09 pm

RIYADH – US Deputy Secretary of Energy Daniel Poneman on Tuesday called on oil producers to boost output in a bid to ease crude prices, which struck $108 over unrest in the Middle East.

"We think that the proper response (to the high prices) is that producers respond to those price signals and see the need for more production and bring that product to the market," Poneman told reporters in Riyadh.

"When producers bring product to the market, price starts to subside," the US official said on the sidelines of a producer-consumer conference in the Saudi capital.

"All oil producers need to respond... expect all of them to respond."

Read more: http://www.rawstory.com/rs/2011/02/22/us-urges-oil-output-boost-to-ease-prices/

completely impossible. That day, our modern world will begin to crumble. I believe within my lifetime I'm going to see a lot of changes. And it ain't gonna be pretty.

They've got their hands on the spigot right now, ready to make it flow, I'm sure.