Saudi Arabia’s King Abdullah said that speculation and taxes are to blame for record oil prices, not output levels from the world’s largest reservoir of crude. “We have nothing to do with the rising prices of oil in the world and there might be some other factors contributing to the increase, such as a few people trying to play with the market to serve their personal interests while some countries are increasing duties on oil products, except on those which they produce locally.”

Watch this video where Lindsey Williams explains WHY we have high oil prices and WHY they will stay that way.

Mr. Williams firmly believes that whoever controls energy controls the economy.

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