Broken record time – Bush to bitch to Saudis about oil again

Shrub’s repeated haranguing of Saudi Arabia’s King Abdullah over high oil prices get to the whole crux of “Is Bush that stupid” vs. “Is Bush that much a liar” question that we’ve seen in Texas for more than a decade, long before he ran for president.

In this case, is he so stupid to not believe in Peak Oil? Does he believe the Saudis actually can pump that more? Has he forgotten how much they have invested in American securities?

Or does he believe the American public will still readily believe a “blame the Arabs” spiel?

Meanwhile, the AP writer appears ignorant of KSA’s possible bumping up against Peak Oil:

Saudi Arabia has considerable additional production capacity. It’s pumping a little over 8.5 million barrels a day, compared with about 9.5 million barrels a day two years ago, and has acknowledged the ability to produce as much as 11 million barrels a day.

The “11 million” is a lie told for geopolitical reasons until proven otherwise. Second, nobody questions whether KSA has actually lost control over the whole situation.

Meanwhile, the GAO and some lawmakers that continuing to fill the Strategic Petroleum Reserve at this time, even if a small physical factor in ramping up oil prices, may be a big psychological one.