Prince Alwaleed bin Talal al Saud discusses the oil situation and the high prices, saying the high prices are unjustified.
http://www.cnbc.com/id/42037137
BARTIROMO: So based on where the supplies are now, the levels of supply, is oil justified at $100 a barrel?
Prince ALWALEED: It is not justified. This is a panic situation because people are concerned. They don't understand what's going on, they just are worried about what's happening in Libya. And I tell you openly, bluntly and blatantly, if all the production of Libya disappears, one country only, which is Saudi Arabia, can cover it immediately.
See more of the transcript here
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