I find it incredibly funny that Saudia Arabia is going to increase their production of oil from about 9 million barrels of crude per day to 9.7 million. They're also going to invest in some kind of new technology that will allow them to output 12.5 million barrels daily by the end of the year.
They're saying it's to combat the sharp and quick increase in gas prices around the world [read: the United States]. Oil is going for twice what it was a year ago, and people are finally beginning to consider alternative sources of energy as well as more efficient means of transportation. Amtrack is turning record profits as people start choosing to take trains rather than drive. People are also using public tranportation as well as biking places they need to go.
So basically, the oil minister of Saudi Arabia, along with the rest of OPEC no doubt, is saying to himself "Oh shit, you mean people are SERIOUS about driving smaller cars and riding their bikes to work and using less gas?? I never thought this day would come! EVERYBODY PANIC."
While high gas prices will affect many people and families in difficult ways, I think it's the best thing in the long run that ever could have happened to this country.