Important Oil Meeting

As promised, Saudi Arabia is hosting a gathering of oil producers and consumers this weekend.
Thirty five countries, 25 oil companies and seven organizations will attend the meeting, including our Energy Secretary. The Saudis announced their intention to meet a little over a week ago on June 9 . Saudi officials have called the current price of oil "unjustified". In that time the Saudis have announced an increase in it's oil output by 200,000 barrels a day, bringing its total production to 9.7 million barrels a day. So will this meeting bear any fruit? The analysts don't seem to think so. Millions of Americans are hoping that this meeting will at the very least stabilize oil prises from rising any further. I have stated in many earlier posts that I believe a possible solution to our immediate and near future oil needs can be found right here at home.

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