Saudi minister is accidentally heard warning of dollar collapse

[Godfather77]

As reported on BBC news Friday 16 November 23:07 GMT

http://news.bbc.co.uk/1/hi/business/7097856.stm

Oil prices rose on Friday on expectations that an Opec summit would not debate raising output. US light, sweet crude gained $1.67 to $95.10 a barrel. London Brent crude was up $1.39 cents at $91.62 a barrel.

The Opec members' leaders are holding a summit in Riyadh this weekend, but the group argues that current supplies of oil are adequate.  Opec said on Thursday that oil demand in the last quarter of 2007 would rise by 1.97%, less than predicted in October.  The summit was marked by the accidental airing of a closed Opec session, which provided a surprise glimpse into a sensitive debate over the weakening US dollar.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/17/cndollar117.xml

The dollar could collapse if Opec officially admits considering changing the pricing of oil into alternative currencies such as the euro, the Saudi Arabian foreign minister has warned.

Prince Saud Al-Faisal was overheard ruling out a proposal from Iran and Venezuela to discuss pricing crude in a private meeting at the oil cartel's conference. In an embarrassing blunder at the meeting in Riyadh, ministers' microphones were not cut off during a key closed meeting, and Prince Al-Faisal was heard saying: "My feeling is that the mere mention that the Opec countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries.

"There will be journalists who will seize on this point and we don't want the dollar to collapse instead of doing something good for Opec."

After around 40 minutes press officials cut off the feed, which had been accidentally broadcast to the press room.

[Spectre]

I know we'll never find out, but it would be interesting to know who was incharge of cutting off microphones and whether this 'accidental' release of the audio really was accidental.

Another conspiracy theory to mull over.

[Godfather77]

I know we'll never find out, but it would be interesting to know who was incharge of cutting off microphones and whether this 'accidental' release of the audio really was accidental.

Another conspiracy theory to mull over.

I concur with your logic.  This does seem very staged and given the fact that these meetings have alot of security it is unusual for such an incident to occur.  Just the right statement at the exact right moment which causes oil prices to jump yet again?  Hmmm