Saudis Playing Ball

I must hand it to the Saudis. Since 9/11, they've been much more cooperative on both the terrorism front and the economic front.

The current oil price boom is "significantly" different from the politically driven price spikes of the 1970s, Saudi Arabia's energy minister said in London yesterday.

In comments seen as calming fears over a repeat of an oil-recession, Ali al-Naimi unveiled plans to increase Saudi production capacity by as much as 37 per cent. He played down concern that Opec, the producers' cartel that is dominated by the Saudi Arabians, would cut production next month, saying the oil market was "in balance".