stevebeilgard Posted June 22, 2008 Author Report Share Posted June 22, 2008 we'll see if jim is correct. opec is meeting as i write this, with the intention of upping production 1/2 million barrels a day. we'll know soon if gas prices come down, and how much. as far as the commodities traders are concerned, i agree it's them hurting us. i hope they all go broke. Quote Link to comment Share on other sites More sharing options...
NS whitetail Posted June 26, 2008 Report Share Posted June 26, 2008 Who's greed? It's more about POWER. my .02 I will tell you who's GREED, on the news tonight it said that the President of OPEC is predicting a price of $170 / barrel this summer, this isn't just something that they come out with off of the top of thier heads , they are dirty rotten greedy ................ This is abit about OPEC : According to its statute, the principal goal is the determination of the best means for safeguarding their interests, individually and collectively; devising ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient, economic and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry."[4]. ----------------- OPEC daily price sets new record www.chinaview.cn 2008-06-25 21:09:05 :doPrint()'>Print VIENNA, June 25 (Xinhua) -- The crude oil price of the Organization of Petroleum Exporting Countries (OPEC) set a new record Tuesday, data released by the Vienna-based cartel showed Wednesday. One barrel of OPEC-produced crude stood at 131.25 U.S. dollars Tuesday, 0.55 dollars higher than the previous day. The last record, 130.87 dpb, was set on June 9. A global meeting on oil prices in the Saudi port city of Jeddah failed to curb the soaring prices Sunday. The promise by Saudi Arabia to increase output by 200,000 dpb has had almost no impact on the market. The one-day meeting also revealed opinion differences among OPEC member countries over the assessment of the international oil market as well as measures to stabilize oil prices. The weak dollar, speculations and geopolitical crises are still pushing oil prices higher and the outlook remains grim, experts said. This part is really encouraging : The weak dollar, speculations and geopolitical crises are still pushing oil prices higher and the outlook remains grim, experts said. Quote Link to comment Share on other sites More sharing options...
FSU_Seminole Posted June 26, 2008 Report Share Posted June 26, 2008 Gasoline is $4.00/gal because crude oil is $140.00/barrel. Crude oil prices are at record highs because people playing the markets are the one's making the OBSCENE profits. DO you actually think that gold - corn - soybeans and other commodities are at all-time highs because there is a shortage of these products? NO, it's because the traders in the pits could no longer make money trading Enron - Microsoft - Apple - and GM stocks so they switched over to the commodities markets and they're whoreing out the country for the sake of their pocket books by trading up oil futures. It has ZERO to do with supply and demand. Even if we can boost domestic production 1,000,000,000 barrels/day, that will just give them more to trade and it will have only a minor effect on the price of a gallon of gas. As long as the Idiots on the Mercantile Exchange are allowed to play "Monopoly" with the future of our country we're going to see high oil prices. Therein lies the problem. Drilling offshore and in ANWR is a great step in America becoming more self sufficient in our energy needs, and should be done immediately. However it will have a very minor influence on the price of a gallon of gas. The great socialist minds in this country longed for they day when we would become a more European Community. Well they got their wish. $5.00 gasoline.......$20.00 steaks.........Stupid little cars........... Over priced housing............ Bad movies. I sure hope we get to keep our deodorant. Excellent post. But I disagree with you about 1 thing. OPEC is playing a cat & mouse game with the USA, China & India. China & India need oil very badly because of their growing economies. Instead of increasing production, they've kept production the same & now they sell oil to the highest bidder. I believe that cetain players in this country DO NOT want increased oil production because of the huge profits being made. And I know some might disagree with me but something just is not right the the Bush/Cheney relationship with the Saudis. When they were first elected it disturbed me that the VP was having secret energy meetings structuring an energy policy without any participation or insight by the congress. Something else I just don't understand. Before the war in Iraq their were 2 oil fields discovered. They can supply the USA at our current rate of usage for the next 200 years. Why isn't that being prepared to drill? Whats the hold up? Quote Link to comment Share on other sites More sharing options...
stevebeilgard Posted June 29, 2008 Author Report Share Posted June 29, 2008 there's lots of other pretty sick things out there to be sore about. there would not be a kuwait unless we went to war in 1991 and saved their butt. we paid the bills, and now it's the chinese who are rebuilding/have rebuilt their country. where were- where ARE- these folks for us?? why don't they give us oil to help the families of those who fought and got wounded and/or died for them? we need to inform the entire world that they are on their own for a few years, and see how their lives improve. yet, we can't. Quote Link to comment Share on other sites More sharing options...
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