OPEC

[Boonedock82]

Something needs to be done about these ass holes.

They are pissed that the barrel of oil keeps falling at the moment, so the douchebags have decided to drop their production by 5%.

This change has yet to affect pump prices. Its not right that these a - holes are forcing the market up, or trying to anyways. Isn't this the same type of crap that the guys at Enron were put on the cross for?

Just not right.

Maybe I am just upset because I haven't really made a red cent in well over a year now. Stupid full time student!

 

[-wiretap-]

holy shit, here's a thought... let's use some of our hundreds of billions of barrels of untapped oil. Oh wait, congressional cockblockers won't allow it and the propagandists say it will take 10 years to get a drop of oil, so let's not do anything. Don't listen to the economics experts and the engineers that are in charge of exploration and drilling. Silence them and shout them down when they say tapping millions of barrels per day would only take 2 to 4 years, and they already have the capability to do so.

 

[KingOfJericho]

The price of oil was driven up by speculation and increased global demand. The price per barrel has gone from $147 in the spring to $62 on Friday. OPEC announced that they were cutting production on Thursday and the price DROPPED $4 on Friday. The price at the pump on the way up is immediately reflective of increased prices but there is a huge lag on the way down. Right now we're paying pump prices for $90ish oil. Wait a few more weeks and we'll be paying significantly less as the cheaper oil makes its way to the pump. OPEC isn't the only source of oil either. Russia, the United States, China, Mexico, Canada, Norway, and Brazil are not OPEC members but produce significant amounts of oil. OPEC is a bunch of blowhards... you're doing exactly what they want you to do... panic. Do a little research on the topic.

 

[dpham00]

no politics