CIAO DATE: 09/2008
June 2008
The Washington Institute for Near East Policy
This weekend, Saudi Arabia will attempt to counter accusations that it has not done enough to stop rising oil prices by hosting an international energy summit of government and oil-company officials. Invitations were sent after the kingdom -- the world's top oil exporter, home to nearly a quarter of known reserves -- was pressured to take action on prices that have increased 40 percent so far this year. Unless Saudi pricing policy changes, however, the meeting is unlikely to bring any relief to consumers.
Resource link: PolicyWatch #1384: Supplicants to Saudi Arabia: The Jeddah Energy Meeting [PDF] - 13K