Perhaps it is not as sympathetic to hard-pressed oil consumers as King Abdullah claims.
Though oil is still king in this country, nearly every major auto company is making a push to develop and manufacture electric cars.
Speaking to MPs on the Treasury Committee, Bank of England governor Mervyn King said oil prices had risen much faster than the Bank had assumed in last month's quarterly inflation report.
Hollywood hitmakers Brian Grazer and Ron Howard of Imagine Entertainment plan to turn the Rich saga into a movie, based on the 2009 book by Swiss journalist Daniel Ammann, The King of Oil: The Secret Lives of Marc Rich.
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Mr King accepted that oil prices had risen much faster than the Bank had assumed in last month's inflation projections, but he said that some of the factors driving prices up, such as tensions in the Middle East, could also fade quickly.
The twin subsidy-slashing measures may result in a major lobbying battle between King Corn and Big Oil.
If King Abdullah really wants to deflate the oil markets, he could try announcing an increase in output of a few million barrels a day.
During his Mideast tour, Bush also is scheduled to visit oil-rich Saudi Arabia, where he will meet King Abdullah amid increasing American frustration at gas prices.
King Hubbert, who correctly predicted in 1956 that oil output in the lower 48 states of America would peak by around 1970.
On his second visit to the kingdom this year, the American leader met Saudi King Abdullah on Friday to renew his appeal for more oil from members of the Organization of Petroleum Exporting Countries to tame record oil prices.
After collecting a nightcap in the Club Lounge, we contentedly returned to our corner suite, embellished with oil paintings, fresh flower arrangements, leather ottomans, a dramatic half-tester king bed and mirrored French armoires.
King Hubbard, associate director of the Exploration and Production Research Division at Shell Oil Company, quantitatively mapped the future of oil production.
America's oil strategy, a central tenet of U.S. foreign policy since President Roosevelt met King Saud aboard the U.S.S. Quincy in 1945 and cobbled together their "special relationship, " succeeded in fueling the low-cost, motorized American way of life.
That's because the Saudi government--nominally run by King Fahd but actually controlled by his half-brother Prince Abdullah (the king suffered a debilitating stroke in 1995)--still gets 70% of its revenue from oil.
Predictions of easing gasoline prices are also being driven by views that there could be potential oil supply overhang concerns coming up in the absence of a strong and immediate message by the successor of Saudi King Abdullah, reinforcing the adherence to self-imposed production limits by OPEC (Organization of the Petroleum Exporting Countries) members.
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His grandfather, he says, was a host of the country's reformist leader, King Amanullah Khan, after it gained independence from the British in 1919, and imported fuel, cooking oil, foods, technical equipment and construction materials from Iran and the Soviet Union.
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