Saudi prince calls for lower oil prices

Saudi Prince Al-Waleed bin Talal said today that he wants oil prices to drop so that they United States and Europe don't accelerate efforts to wean themselves off his country's supply. In an interview broadcast today on "CNN's Fareed Zakaria GPS," the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel.A major investor in the United States, the prince said the country remains a desired investment target because of stability. Talal also said Saudi Arabia needs to "enact some new laws whereby the participation of the people has to be done, one way or another."

http://www.cnn.com/2011/WORLD/meast/05/29/us.saudi.prince.oil/index.html?hpt=T1

-Tharryn Wright