Nice idea, Terry. But what will these investors want in return? Are
we now selling our car companies to the Arabs so that they can sell us
more oil?
Ed
On Nov 21, 2008, at 12:23 PM, Terry Blanton wrote:
http://news.yahoo.com/s/afp/20081120/bs_afp/financeeconomyusgulf_081120072928
US seeks 300 billion dlrs from Gulf states: report
Thu Nov 20, 2:29 am ET
KUWAIT CITY (AFP) – The United States has asked four oil-rich Gulf
states for close to 300 billion dollars to help it curb the global
financial meltdown, Kuwait's daily Al-Seyassah reported Thursday.
Quoting "highly informed" sources, the daily said Washington has asked
Saudi Arabia for 120 billion dollars, the United Arab Emirates for 70
billion dollars, Qatar for 60 billion dollars and was seeking 40
billion dollars from Kuwait.
Al-Seyassah said Washington sought the amount as "financial aid" to
face the fallout of the financial crisis and help prevent its economy
from sliding into a painful recession.
The daily said the United States plans to use the funds to help the
ailing automobile industry , banks and other companies suffering from
the global financial turmoil.
The four nations, all members of OPEC, produce together 14 million
barrels of oil per day, around half of the cartel's production and
about 17 percent of world supplies.
The four states are estimated to have amassed close to 1.5 trillion
dollars in surplus in the past six years due to high oil prices that
rocketed above 147 dollars in July before sliding to just above 50
dollars.
The daily also said that the United States has asked Kuwait to forgive
its Iraqi debt estimated at around 16 billion dollars.
<end>
Now *there* is a novel idea. Let the vested interests bail out the
automotive industry!
Terry
