OPEC Price Fixing

EllowViper

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QUOTE" A wary OPEC said Monday it will keep pumping crude at current levels, while also making clear it would consider scaling back production if oil prices keep plummeting. The Organization of Petroleum Exporting Countries -- anxious to keep prices already at five-month lows from a free fall -- pledged to "vigilantly monitor" the combination of rising inventories and easing political tensions that have pushed crude down by almost $13 a barrel since midsummer..."

WOW. We've all been Hoodwinked all year long...so if OPEC can't keep the prices artificially high regardless of supply and demand, they will just unilaterally screw the rest of the world accordingly and create supply shortfalls by holding back production. So nice of our Middle Eastern "World Trade Partners". Makes me wonder what we have that they need...oh wait, wouldn't that be our military presence amongst other stipends ensuring unrestricted market access for these fellows??? Too bad we've created such a situation where our hand is permanently caught in their cookie jar. *****.
 

mad0953

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Wait till the oil runs out and we'll see a bunch of sheiks and other money grubbers begging for welfare.
 

kcobean

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Not in our lifetime. I'm sure the news that Chevron finally tapped new oil resources way out in the GoM is not good news for the middle-east folks.
 

Andrew/USPWR

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So we see the part Saudi Arabia is playing to help fight the war on terror. Put the only country doing anything to the screws.

I felt Kuwait should be giving Americans major discounted oil for us giving them back their country.
 

Racer Robbie

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I felt Kuwait should be giving Americans major discounted oil for us giving them back their country.


I will second that! Why did we give them back the oil? Has no one ever heard of the spoils of war?
 

Andrew/USPWR

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I felt Kuwait should be giving Americans major discounted oil for us giving them back their country.


I will second that! Why did we give them back the oil? Has no one ever heard of the spoils of war?



and don't forget, we also put out the fires from the oil wells Saddam blew up.




4030story_oil_fire_2.jpg
 
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