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Saudi prince calls for lower oil prices

Posted May 29th, 2011 at 07:26 PM by henjia45
(CNN) -- Saudi Prince Al-Waleed bin Talal said Sunday that he wants oil prices<a href="" title="christian louboutin pumps"><strong>christian louboutin pumps</strong></a> to drop so that the United States and Europe don't accelerate efforts to wean themselves off his country's supply.
In an interview broadcast Sunday on "CNN's<a href="" title="tory burch shoes"><strong>tory burch shoes</strong></a> Fareed Zakaria GPS," the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the<a href="" title="pandora beads"><strong>pandora beads</strong></a> current level of over $100 a barrel.
"We don't want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives," said Talal, who<a href="" title="christian louboutin uk"><strong>christian louboutin uk</strong></a> is listed by Forbes as the 26th richest man in the world.
Asked about the so-called Arab Spring protests reshaping the political landscape in the Middle East and North Africa, he said the level of unrest in his native country is far below<a href="" title="tory burch outlet"><strong>tory burch outlet</strong></a> that of other countries because of economic stability and the love of the Saudi people for the monarchy.
Still, the prince said, Saudi Arabia needs to "enact some new laws whereby the participation of the people has to be done, one way or another."
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