The Treasury chief was in the Mideast to deliver a message to officials of Saudi Arabia and other oil-producing nations that soaring oil prices are putting a burden on the global economy. He is urging the countries to open up their oil markets to investment that can boost yields, exploration and production.
U.S. Treasury Secretary Henry Paulson wants Saudi Arabia and other oil-producing nations to open up their oil markets but is not encouraging investment in the U.S. oil markets. Talk about sending mixed signals.
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