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Exclusive: Iran sanctions seen spurring more Saudi oil sales to U.S.

Reuters -- Saudi Arabia is preparing to extend this year's unexpected jump in oil sales to the United States, adding to speculation about the response of the world's top oil exporter to sanctions against Iran and a rally in prices.

The kingdom's shipments to the United States have quietly risen 25 percent to the highest level since mid-2008, according to preliminary U.S. government data, a sizeable leap that appears at least partly related to the imminent completion of a major expansion at its joint-venture Motiva refinery in Texas.

But some say the scale of the increase, plus other U.S. data showing Gulf Coast inventories are still subdued, suggest the potential for a political dimension as well, evoking comparisons to 2008 when the OPEC kingpin was driving up production to knock oil prices of

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Submitted Mar 16, 2012 By: BIGOILEATURCRUD

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dhdiesel Veteran Author Riverside Posts:400 Points:44,800 Joined:Feb 2012	Message Posted: Mar 17, 2012 3:18:28 AM Ignore dhdiesel Report Abuse Rappcommuter, FDA and Ag Dept already control our "food" Obama announced that he will recess appoint Islam A. Siddiqui to the position of Chief Agricultural Negotiator, Office of the U.S. Trade Representative. Siddiqui is a pesticide LOBBYIST and Vice President for Science and Regulatory Affairs at CropLife America, an agribusiness lobbying group that represents MONSANTO. Monsanto is also spreading their GMO seeds all over the world. India is suing them; thousands of Indian farmers committing suicide
NedW Champion Author Indianapolis Posts:5,620 Points:1,143,220 Joined:Mar 2008	Message Posted: Mar 16, 2012 11:45:03 PM Ignore NedW Report Abuse B. Hussein Obama's ideology is doing the same thing.
dhdiesel Veteran Author Riverside Posts:400 Points:44,800 Joined:Feb 2012	Message Posted: Mar 16, 2012 11:36:32 PM Ignore dhdiesel Report Abuse The article also says, "Data shows that the Saudi crude has been priced advantageously for U.S. buyers." And then goes on into speculation as to why. Hmm, what's going on behind closed doors? In another Reuters article, 'U.S. crude oil futures rose on Friday, ...as the dollar weakened..' A chaotic game of global Chess where the rules are changing daily?
Rappcommuter Veteran Author Virginia Posts:474 Points:555,470 Joined:Apr 2011	Message Posted: Mar 16, 2012 11:19:57 PM Ignore Rappcommuter Report Abuse It's nice that Saudi Arabia is willing to increase production. I'm personally not a socialist so I don't believe in the government regulating the private sector such as Capping prices, regulating speculators, or controlling where the companies sell their oil. Should the government also get involved in other areas such as controlling our food?
Venzadriver Champion Author Florida Posts:1,325 Points:360,865 Joined:Dec 2010	Message Posted: Mar 16, 2012 8:20:39 PM Ignore Venzadriver Report Abuse Cap prices, regulate the speculators, sell only the oil and gas we don't use on the world market and switch to algae-based bio-fuels.
NGC4565 Champion Author Reading Posts:3,754 Points:747,890 Joined:Mar 2011	Message Posted: Mar 16, 2012 8:18:37 PM Ignore NGC4565 Report Abuse "Whom will repost after midnight?" Why? Are you expecting this article to disappear?
graceman Champion Author Baltimore Posts:4,968 Points:1,158,725 Joined:Jun 2008	Message Posted: Mar 16, 2012 8:17:36 PM Ignore graceman Report Abuse But will the prices go up or down,that is the question!
BIGOILEATURCRUD Champion Author North Carolina Posts:5,779 Points:1,379,475 Joined:Nov 2008	Message Posted: Mar 16, 2012 8:15:02 PM Ignore BIGOILEATURCRUD Report Abuse Whom will repost after midnight?