SUSRIS Quarterly Production Report

This compilation provides a summary of SUSRIS articles, interviews, essays, items of interest and special reports distributed between April 1 and June 30, 2008. You can find more news and resources in the weekly SUSRIS newsletters listed below and on the SUSRIS.org web site (link here).

In this edition of the "Quarterly" we are also adding an index to the SUSRIS Special Sections. These are compilations of SUSRIS articles and interviews, related media reports, web links, photos and more that address a significant topic in the relationship or developments in the Middle East that touch on US-Saudi interests. We hope you check these SUSRIS Special Sections when there are occasions you need references not found elsewhere.

We'd like to take this opportunity to thank you for helping make the SUSRIS a top choice for news, analyses and interviews concerning US-Saudi relations. Thanks for making SUSRIS #1 and #2 of 22,300,000 Google results for people searching for keywords "Saudi" and "US" as of today.

We appreciate your continued interest in receiving SUSRIS newsletters, in recommending SUSRIS to your friends and colleagues, and in visiting the SUSRIS Web site.

When you forward this "Quarterly" to your colleagues please recommend they sign up for our free e-newsletters by visiting SUSRIS.org. There's a signup box at the top left of the page. They'll thank you for it.

SUSRIS SPECIAL SECTIONS 2008

SUSRIS Special Sections 2006, 2007, 2008 Index (Click here)

SUSRIS WEEKLY NEWSLETTERS - 2nd QUARTER 2008

271 June 22-28, 2008
270 June 15-21, 2008
269 June 8-14, 2008
268 June 1-7, 2008
267 May 25-31, 2008
266 May 18-24, 2008
265 May 11-17, 2008
264 May 4-10, 2008
263 April 27-May 3, 2008
262 April 20-26, 2008
261 April 13-19, 2008
260 April 6-12, 2008
259 March 30-April 5, 2008

"..Participants noted with concern that oil prices have risen sharply and become more volatile, due to a host of factors. They sought to identify the causes and consequences of recent price behavior and suggested areas of improvement for the efficient operation of the oil market. Participants also noted that current oil prices and their volatility are detrimental to the global economy and, in particular, the economies of least-developed countries. Participants agreed that the situation requires concerted efforts from all parties � producing and consuming countries, the oil industry and all concerned parties � to bring stability to the international oil market for the benefit of all.."

Jeddah Energy Meeting: The Saudi Perspective
June 27, 2008

"..In a key speech at the conference held here today, Al-Naimi said: "Given the vital importance of petroleum to modern life, the global nature of the oil markets and the far-ranging social, political and economic impacts of high prices and market volatility, we all have a stake in this conversation. After all, current market conditions are in the interest of neither producers nor consumers, and none of us can be content with the status quo". He added: "A year ago prices were in the range of $65 a barrel, now, they are almost double that. What has happened during this relatively short period of time? Between the second quarter of 2007 and the second quarter of 2008, global demand rose by an estimated 800,000 to 1.2 million barrels per day, but at the same time global oil supplies rose between 1.4 and 1.6 million barrels per day - substantially more than the increase in demand. Accordingly, days of forward cover increased from roughly 52 to 54 days during the last 12 months, and inventory levels are currently well within their normal range.".."

"..I would like to welcome and thank you for attending this important meeting in response to our invitation, and I consider your attendance reflects your feeling with the responsibility and the importance of international cooperation in the topic of energy which concerns all nations of the world, and I wish you every success.. ..your great mission becomes clear: Uncovering the truth. Your mission is to rule out biased rumors and reach the real causes for the increase in price, determine how to address that development clearly and transparently, and disclose the outcome to the international community.."

"..Everyday -- and around the world -- we are seeing the significant negative effects that high energy prices have on our economies, our industries and, most profoundly, on our citizens. We face an extraordinary set of circumstances that demands responsible action from producing and consuming nations alike. Market fundamentals show us that production has not kept pace with growing demand for oil, resulting in increasing � and increasingly volatile � prices. Since 2003 global demand, fed by worldwide economic growth, has increased significantly. World oil consumption growth has averaged 1.8 percent per year, with the largest share of that increase coming from non-OECD countries, especially China, India, and in the Middle East. But for the past three years global oil production has remained constant at roughly 85 million barrels per day. OPEC production has remained largely flat while non-OPEC supply growth has been well below levels seen just four years ago.."

During the last six months, Saudi security forces have arrested 701 militants for allegedly plotting to carry out terrorist attacks on oil facilities and other vital installations across the Kingdom, the Interior Ministry announced.. ..�Some of the arrested suspects were planning to stage terrorist attacks on oil fields and installations,� Maj. Gen. Mansour Al-Turki, spokesman for the ministry told Arab News. He said the militants � Saudis and foreigners � were trying to regroup and strengthen the Al-Qaeda terror network in Saudi Arabia. �The exact involvement of these new detainees, who were apprehended during the last six to eight months is not immediately known,�.. ..�Of the total 701 arrested, 520 are still in detention while the remaining 181 have been released as there was no evidence to prove their connection with terrorist groups.� The large-scale security sweep has been carried out over the past few months in various parts of the Kingdom and police have confiscated weapons, ammunition, sophisticated electronic equipment and money from the militants.."

"..Riyadh assures market.. ..Saudi Arabia announced yesterday that it would do everything possible to curb rising oil prices, which it blamed on geopolitics and speculators. �The Kingdom looks.. ..with great interest to oil market stability that will protect the interests of producers and consumers and promote world economic growth,� an official statement said. �As the world�s biggest oil exporter, Saudi Arabia has not and will not spare any effort to achieve oil market stability. Its oil policy aims always to foster and strengthen cooperation and dialogue between oil producing and consuming countries.".."

"Saudi Arabia is planning to invest $80 billion in increasing its oil output to 12.5 million barrels per day and expanding its refining capacity by 43 percent to six million bpd within the next few years, according to an economic report unveiled yesterday. The report, which was issued by the Federation of GCC Chambers of Commerce and Industry, expects that the gross GCC domestic product will grow by 27.9 percent this year to reach $1 trillion with the increase in oil prices.."

"Following fast on the decision to boost oil production this month by 300,000 b/d, the Kingdom is to increase this by a further 200,000 b/d next month in the hope of bringing some sanity to an out-of-control market. Given that supply already exceeds demand, this should push down the price. We say, 'should.' The fact is that no one knows if it will. The 300,000 b/d rise initially seemed to have stabilized the market but it was hoped it would do more and yesterday, despite the further announcement, prices hit fresh highs. The fact is that with speculators forcing up the price ever higher in order to scoop up profits, production increases are going to have limited effect. Producers no longer have the wherewithal to end this irresponsible destabilization of the market.."

The 2008 Energy Crisis: Kingdom Calls for Producers and Consumers to Talk
June 9, 2008

".. the Saudi Council of Ministers concluded on Monday that 'the current increase in oil prices is unjustifiable in terms of oil data and market fundamentals' and called for a 'meeting involving representatives from producing and consuming countries and companies active in the production, export and sales of petroleum to take into consideration the high prices, their causes, and how to objectively deal with them.' This SUSRIS Special Report provides a perspective on the supply and demand for crude oil in the world and a wrap up of reporting on the Saudi call for consuming and producing nations and commercial interests to confer on the crisis and develop solutions. It also provides links to some the voluminous reference materials on the SUSRIS web site addressing the energy component of the US-Saudi relationship.."

"The conference .. was designed to reconcile brewing discontent between Islam's two main branches, Sunni and Shiite, before the kingdom launches a landmark initiative for talks with adherents of other monotheistic faiths. In a statement reported by the official Saudi Press Agency, the scholars stressed the need for dialogue with other religions to give a 'correct picture of Islam' and to reach 'out to other sects of Islam, which will lead to uniting the nation.' They also called for 'solving the problems and disagreements that might take place among Muslims and other (non-Muslims) .. and to achieve an understanding among civilizations and human cultures.'"

Billion Muslims and West Want Dialogue, Coexistence
Dalia Mogahed & Ahmed Younis
June 6, 2008

"How do Muslims around the world view relations between the West and the Muslim world? Do they see cooperation or conflict? Where there are problems, who do they think is at fault? Are they optimistic or pessimistic about the future? Though majority of Muslim populations around the world have a great deal of pessimism about the state of the relationship, they also believe that violent conflict between the West and the Muslim world can be avoided. Though many Muslims believe the West does not respect them, they still believe greater interaction with the West is more a benefit than a threat. Americans and Canadians also believe greater interaction with the Muslim world is a benefit. Though both sides wish for better relations, both sides lack trust in the other�s good intentions.."

"'The split between the Muslim Brothers and the Wahhabis is now at the center of all Islamist debates' in Saudi Arabia stated St�phane Lacroix, a post-doctoral fellow and a lecturer at Sciences Po in Paris. Emerging splits within the (Islamic Awakening) movement in Saudi Arabia are particularly salient because the movement is a powerful religious force and the only group capable of effectively mobilizing supporters in the Kingdom. Lacroix examined the history and challenges ahead for the Saudi sahwa at a CSIS Gulf Roundtable on May 29, 2008.."

International Islamic Conference for Dialogue
King Abdullah's Opening Remarks
June 5, 2008

How great this nation is, how difficult the challenges it faces in a time where its enemies � extremists from its sons and others � join forces to change its fair approach. They are gathered with blatant aggressiveness to target the tolerance, justice and noble purposes of Islam. For this reason, this invitation from your brother is to counter challenges of rigidity, ignorance, narrow-mindedness, and to make the world accommodate the concepts and the prospects of the kind message of Islam without enmity and antagonism.. ..the way to the others is through shared values advocated by the divine messages, which were revealed by Allah the Almighty for the benefit of humanity to preserve their dignity and promote the ethical values and dealings which certainly are not in conformity with deception. These values reject treason, alienate crime, combat terrorism, and despise lying. They lay the bases for good morals, honesty, truthfulness, justice, and enhance the concepts of family values and its cohesion and ethics, which are slowly diminishing at present and disintegrating ties, and where human beings are distancing themselves from their Lord and the teachings of their religion."

"Noted author and writer M.J. Akbar said dialogue with other faiths should be conducted not because other people want it but because it is the right thing to do. 'Whether the other side is ready or not, we should take this step and make the other side run out of excuses,' he said. 'Islam has a glorious history of protecting people of the other faiths.'�

Discovery! The Search for Arabian Oil
Wallace Stegner - Foreword by Thomas Lippman
May 31, 2008

"..The story of Discovery! and the peculiar fate of Stegner�s manuscript is a complicated and murky tale, almost as interesting as the story recounted in its pages. But the book�s odd history does not detract from its merit as narrative. It is a brisk, muscular and well-reported � if occasionally breathless � account of the creation and development of the oil industry in Saudi Arabia by American geologists and engineers in the 1930s and 1940s, one of the most important developments of modern Middle Eastern history.."

Discovery! The Search for Arabian Oil
Wallace Stegner - Introduction
May 31, 2008

"..Thirty-five years ago there were few traces of westernization in Saudi Arabia anywhere outside of cities like Jiddah and Mecca, where pilgrims from outside the country had stimulated a relatively sophisticated mercantile class. The shock that oil riches have brought to Iran, Iraq, Kuwait, Qatar, Abu Dhabi, and Libya was particularly strong in Saudi Arabia, for of all the Arab states , Saudi Arabia beyond the Hijaz, was for a longer period the most isolated. Thirty-five years ago the network of roads that shows on today�s map was nothing but a scrawl of caravan trails and wandering tracks that disappeared in the first sandstorm. Dhahran did not exist, Ras Tanura did not exist, Abqaiq did not exist, the pipelines and pump stations, the ports, the marine terminal did not exist. What existed, outside Jiddah, Riyadh, and Mecca, was the barren land alone, with its scattered palm gardens and its coastal pearling towns and its desert oases, its wandering tribes, its holy places, its religious zeal and its austerity and its suspicion of foreigners.."

SUSRIS EXCLUSIVE
The Proud Heritage of Aramco: A Conversation with Thomas Lippman
May 30, 2008

"..Once King Abdul Aziz in the early 1930s decided to give an oil exploration concession to Standard Oil of California a few Americans went over to look for oil and set up the oil camp. At that time virtually the only interaction between Saudi Arabia and Americans and the United States was through the oil company. There were no resident, official U.S. Government Americans in Saudi Arabia until ten years later, in World War II. Even then they were all the way on the other side of the country in Jeddah, which was the diplomatic capital. So Aramco was the first point of contact with the United States for the King, not just the oil business but with America. The work that Aramco did, such as their support to local start up businesses and contractors in the Eastern Province, led to the United States in the person of Aramco, being intertwined with the economy and educational development in Saudi Arabia. It was in ways that made the two almost inseparable.."

Saudi Aramco at 75: Partnering to Meet the Challenges of the Knowledge Society
Abdallah S. Jum'ah - President & Chief Executive Officer of Saudi Aramco
May 29, 2008

"..Tonight we have the opportunity to celebrate with you the milestone that is Saudi Aramco's 75th anniversary. In fact, it was 75 years ago this month that the original concession agreement was signed between the Kingdom of Saudi Arabia and representatives of the Standard Oil Company of California-predecessor to today's Chevron -- which opened our country to oil exploration. It took another five long years of prospecting and perseverance, but eventually oil was found in commercial quantities just down the road from our company's present-day headquarters in Dhahran.. ..We are also here to celebrate 75 years of commitment to two ideals that are at the core of who we are as a company. The first is a conviction that our greatest resource is the limitless potential of the human mind. The second is that great things are possible through cooperation and the sharing of knowledge.."

Achievements of Our Fathers
Tim Barger on 75 Years of Aramco Success
May 27, 2008

"..I am just one of the many Americans who have lived in your country for years. There are more than a thousand Americans working for Saudi Aramco right now, and there are tens of thousands who have worked for the company over the past 75 years. There are many thousands of us who were born and raised in the Eastern Province. We are not Saudi-Americans nor are we American-Saudis, maybe we are Saudi Aramcon-Americans.. ..Regardless of the name, thank all of you Saudi-Arabians, for your friendship and generously accepting us within your society, for teaching us about another way of life, for sharing with us the beauty of your country -- but most especially, thank you, and your parents, for respecting the achievements of our fathers. They did their very best to help make Saudi Aramco the success that it is today, and we are very proud of them and their contribution -- as we are of this great company. On behalf of these Americans -- past and present, I�d like to say, �Nashkurkam jazeleen.� (Thank all of you very much.).."

President Bush at the World Economic Forum: Advancing Ideals as Old as the Pyramids
May 23, 2008

"..Laura and I are delighted to be in Egypt, and we bring the warm wishes of the American people. We're proud of our long friendship with your citizens. We respect your remarkable history. And we're humbled to walk in the ancient land of pharaohs, where a great civilization took root and wrote some of the first chapters in the epic story of humanity. America is a much younger nation, but we've made our mark by advancing ideals as old as the pyramids. Those ideals of liberty and justice have sparked a revolution across much of the world. This hopeful movement made its way to places where dictators once reigned and peaceful democracies seemed unimaginable: places like Chile and Indonesia and Poland and the Philippines and South Korea. These nations have different histories and different traditions. Yet each made the same democratic transition, and they did it on their own terms.."

SUSRIS EXCLUSIVE
Turmoil in the Oil Market: A Conversation with OPEC President Dr. Chakib Khelil
May 22, 2008

"..I think the supply and demand are in equilibrium. Of course, Saudi Arabia can decide to sell their oil cheaper, that�s their sovereign right. But it�s not the market price. Anybody has the right to sell it cheaper if that�s what they want to do. It means a loss for the treasury of those countries. But increasing production is not going to reduce the price. I�ve said that many times. Because it�s not driven by supply and demand - the oil price. It doesn�t have anything to do with supply and demand. So reducing demand is going to do it, but reducing demand is not in the cards. It�s a function of time. It�s a function of growth in the consuming countries. So if Saudi Arabia increases supply it�s not going to change the prices in the markets at all.."

SUSRIS EXCLUSIVE
Understanding Saudi-US Relations: A Conversation with CSIS' Jon Alterman
May 21, 2008

"..What�s striking is just how rich the US-Saudi relationship is. It�s not just an energy relationship. It�s not just a security relationship. It has to do with virtually everything the U.S. does in the Middle East. The relationship has gone from being a comfortable relationship to one with considerable sensitivities on both sides, and many more sensitivities in public than officials have in private. Saudi Arabia has become more important to the United States, but with that importance comes a complexity in the relationship that both governments continue to struggle with.."

"..Custodian of the Two Holy Mosques King Abdullah yesterday opened Saudi Aramco�s 75th anniversary celebrations at its premises here and commended the company�s role in providing adequate oil supplies to ease the international energy crisis. 'This Saudi company has been trying efficiently to support the Kingdom�s international policy in the field of providing suitable energy to confront global crises and, God willing, it will continue to play the same role,' the king said in his opening address at the ceremony.."

"Saudi Arabia announced a modest increase in oil output on Friday after an appeal from visiting President George W. Bush but the news did little to douse prices that hit a new record earlier in the day. On his second visit to the world's biggest oil-exporter this year, Bush renewed his call for OPEC to increase production amid rising pressure at home to take action as soaring fuel prices weigh on the U.S. economy.."

President Bush in Saudi Arabia
National Security Advisor Hadley Briefing
May 17, 2008

"..I'd like to start, if I can, to say a little bit about some of the strengthening and diplomatic ties between the United States and Saudi Arabia that they were able to witness here today. As we've noted, this is the 75th anniversary of the formal establishment of diplomatic relations between the United States and the Kingdom of Saudi Arabia. And it is certainly fitting that these two leaders were able to reach some understandings and agreements that will further strengthen the ties between the two countries.."

President Bush in Saudi Arabia: Agreements Bolster Regional Security
May 16, 2008

"..Today, President Bush met with King Abdallah to commemorate the 75th anniversary of formal diplomatic relations between the United States and Saudi Arabia. Since 1933, these two nations have enjoyed formal relations. In 1945, during the waning months of World War II, King Abdallah's father � King Abd al-Aziz � met with President Franklin Delano Roosevelt aboard the U.S.S. Quincy in the Red Sea, and the two leaders chose to deepen the strategic relationship between the two countries. The President's visit today builds on this tradition of friendship and close cooperation.."

"The President's visit to Saudi Arabia will mark the 75th anniversary of the formal establishment of U.S.-Saudi relations. Upon arrival in Riyadh, the President and Mrs. Bush will be greeted by King Abdallah. The President will participate in a series of meetings with King Abdallah at the King's private farm.."

President Bush's Trip to the Middle East
Briefing by Anthony Cordesman and Jon Alterman of CSIS
May 14, 2008

"..It�s easy to shorthand the trip to Saudi Arabia and say the president wants to get the Saudis to pump more oil. The U.S.-Saudi discussions are going to touch on Iran, Iraq, Arab-Israeli issues, counterterrorism � I mean, all issues, except for counterterrorism, issues where the Saudis say the U.S. capacity, the U.S. skill, the U.S. trustworthiness in fixing these problems is not something to have a lot of faith in. U.S. is trying to sell arms but can�t really get Congress on board. The Saudis don�t have an alternative to keeping the U.S. in its corner, but their reliance on the United States, their confidence in the United States is extremely shaken, and I think that contributes to Tony�s sense that they�ll be polite, but they�re not really going to put themselves out to help this president. In past years, the Saudis have really put themselves out to help American presidents. We saw what they did in Afghanistan. We saw what they did in Nicaragua. There have been any other number of instances where the Saudis said privately we really want to be your ace in the hole.."

"Oil prices have hit a series of all-time highs and touched $120 per barrel in late April despite clear signs that the global economy is slowing. Demand and supply fundamentals have supported much of the run-up in prices in recent years, but the recent upward movement has been the result of investors using oil (and other commodities denominated in US dollars) as a hedge against the falling value of the dollar. Higher prices have not had too great an impact on economic growth so far because most consumers have been sheltered from the rise. Retail prices of fuel in emerging markets are generally fixed at low prices, those in Western Europe are heavily taxed, while in the US refiners have been absorbing some of the higher fuel costs with reduced profit margins.."

"Mounting inflationary pressures and increasing business costs are having a negative impact on businesses in Saudi Arabia. According to SABB�s latest survey, business confidence is down to 105.4 in the second quarter as compared to 106.2 (calculated against a base value of 100) in the first quarter. Saudi Arabia�s inflation rate rose to a 27-year peak of 9.6 percent in March against 8.7 percent in the previous month. Despite the inflation levels and a slightly reduced SABB Business Confidence Index, 88 percent of businesses surveyed are optimistic about their business performance in Q3 and Q4, 66 percent are reporting a rise in production capacity as compared to 64 percent in Q1, 71 percent expect bank lending to be positive.."

"U.S. President George Bush will visit Israel, Egypt and Saudi Arabia next month. White House spokeswoman Dana Perino says the trip will run May 13 through May 18. In Israel, Mr. Bush is to meet with President Shimon Peres and Prime Minister Ehud Olmert and address parliament. Perino says Mr. Bush will be celebrating the 60th anniversary of Israel's founding. Perino says in Saudi Arabia, the president will meet with King Abdullah and commemorate the 75th anniversary of the establishment of U.S.-Saudi relations.."

"Fouad al-Farhan was well known among the expanding web log, or blog, community in Saudi Arabia prior to his imprisonment on December 10, 2007. Since then his case gained international attention including an exchange of concerns by senior U.S. government officials to Saudi officials during the period of President Bush's January visit to the Kingdom. On Saturday he was released from custody and returned to his Jeddah home.."

The United States in the View of the Arab World
Arab News Editorial
April 26, 2008

The findings of a just-published American opinion poll of Arab views of the U.S. come as no surprise. The poll indicates a massive 80 percent of Arabs distrust the U.S. If anything, the only surprise about the poll, carried out in a number of Arab countries by the University of Maryland and Zogby International � which also confirms a recent BBC survey on the subject � is the implicit suggestion that 20 percent of Arabs do trust the U.S. It is hard to find anyone here in the Kingdom at the moment who has anything good to say about the U.S..."

Custodian of the Two Holy Mosques King Abdullah held talks with former US President Jimmy Carter at Al-Yamamah Palace [in Riyadh, April 19, 2008]. They discussed matters of mutual concern, the Saudi Press Agency said. The talks were attended by a number of senior officials including Prince Muqrin, director of intelligence, Prince Abdul Aziz ibn Abdullah, Prince Mansour ibn Nasser, Prince Bandar ibn Salman ibn Muhammad, Abdul Mohsen Al-Tuwaijeri, advisers to the king, and Dr. Nizar Obaid Madani, state minister for foreign affairs. Carter arrived earlier in the day and was received at the airport by Madani, Dr. Abdul Mohsen Al-Marik, deputy chief of protocol at the Foreign Ministry, and other officials.."

"Understanding the mood and opinions of the Arab public is a critical challenge, given the continuing struggle for peace, economic growth and stability in the Middle East. As the people of the region respond to a wide range of dynamics, including American efforts to jump-start the Middle East peace process, stabilize Iraq and counter Iran's bid for hegemony, accurately gauging Arab public opinion is an imperative.."

"..There are many interlinked factors related to the religious and social environment as well as the attitude of political leaders, who have not taken a clear position: should women have a role in public life, private life only, or a mix of the two? In the Gulf, there is a conflict between a modernizing and development-oriented perspective and a religious-tribal perspective. The latter fights to keep women at home and preserve the traditional arrangement of male domination of the public sphere and female limitation to the private sphere. Men have succeeded in the public sphere to the extent that they are giving up their roles at home. The modernizing perspective promotes a partnership between men and women in public life, and citizenship rights and duties for both. The struggle between these two trends remains unresolved, and here the third force appears -- the government role -- which is unstable and swings back and forth, one day siding with the modernizers and the next day with religious and tribal elements. The media also can play an important role in this struggle by showing women in leadership roles.."

The Saudi Economy: Recent Performance and Prospects for 2008-09
Office of the Chief Economist of Samba
Apr 10, 2008

"..Economic expansion and diversification continue apace in Saudi Arabia and this momentum should be maintained in the period ahead. Global oil prices are expected to remain high, investment in domestic oil and gas production capacity is being ramped up, and the enormous potential of the private sector is being unleashed by fundamental improvements to the business environment. As a result, robust public and private sector investment should underpin real economic growth of 6 percent or more annually over the coming years.."

"..The past year has been replete with challenges for U.S.-Gulf relations. Evidence of constancy within change and change within constancy is that issues pertaining to the Gulf and nearby areas continue to dominate headlines. In international and regional affairs generally, Iraq and Iran, together with Saudi Arabia, oil, and Palestine, remain among the foremost topics of political discussion in Washington, the Gulf, the eastern Mediterranean, and beyond. Closely aligned to them in the public mind, if such a thing exists, are popular perceptions of the U.S. position and role in furthering or worsening the prospects for security and stability in the countries noted and elsewhere in the Middle East.."

SUSRIS EXCLUSIVE
Saudi Arabia Up Close: A Conversation with Alex Lari
Apr 4, 2008

"A WACA leadership mission recently visited Saudi Arabia for meetings and discussions with government officials, business people, educators and others about developments in the Kingdom. Vice Chairman of WACA's National Board Alex Lari was among the leaders participating in the visit and before he departed Saudi Arabia he spoke briefly with SUSRIS about his observations.."

Impact of the Weak Global Economy
Brad Bourland, Chief Economist & Head of Research Jadwa Investment
Apr 3, 2008

"Global economic conditions have deteriorated significantly. It appears that the US, the world�s largest economy, has stopped growing. Other leading global economies are faltering, banks are being forced into huge write-offs and financial markets are exceptionally volatile. The outlook is uncertain, although it is clear that global growth will slow from the robust levels of recent years. Saudi Arabia has felt some impacts from the global downturn, although these have been more through financial channels than trade linkages. In contrast to the usual behavior of oil prices during periods of global downturn, this time they have continued to rise. We expect oil prices to go down, but not to levels that would threaten the economic outlook. Indeed, the internal momentum within the economy is sufficient that global economic conditions may affect the pace of growth, but will certainly not derail it. Movements in Saudi share prices will maintain their closer relationship with global stock markets and the performance of Saudi companies that earn the majority of their revenue from abroad is likely to be affected.."

"I want to speak to you this afternoon about diplomacy as an element of statecraft. By now most Americans recognize that we are in a bit of trouble both at home and abroad. What is to be done? Is diplomacy a better answer than the use of force? The late Arthur Goldberg, who was both a Justice of our Supreme Court and Ambassador to the United Nations, observed that "diplomats approach every issue with an open.. ..mouth." A colleague and friend of mine, who served as Ambassador to China, once told me that "a diplomat is someone who thinks twice � before saying nothing." They set a high bar for a public speaker on diplomacy as an alternative to militarism, but I am willing to attempt it.."