Opec's oil price troubles - 24 Oct 08

[heartlessvietboy]

I am beginning to think that any gasoline engine should be made against the law if they pollute the environment. With the exception of special conditions.

[theporksicle]

Very simple, you want oil prices to go up then establish what world demand is at present (circa 85 million bpd) and cut it to 3/4 of that. I read that a 5% reduction in supply in the 1970s forced up the price of a barrel of crude 10 fold, so if you manufacture a 25% reduction in supply you could get some pretty decent prices.

Not saying they should do this but if OPEC really wanted a lot more for oil they could get it.

[jtlbz]

fuck you Opec's

[123KGBAndMe]

"Bad news for countries like Venezuela and Iran..."

Damn Al Jazeera, what about Qatar and the soon to be ghost town of Dubai?

[AcaiBerryMONAVIE]

SUCK SATAN'S COCK opec

[Jacobrester]

I really hope Obama listens to T Boone Pickens and pursues the wind tunnel that flows through the USA and Canada.

I also hope he allows the mining on a small level, to start with, of the massive oil shale depositis in Utah and Colorado.

And finally, I hope he allows the new technology of turning coal into liquid fuel to be instituted.

If all of this is done, the USA can tell the Middle Eastern Countries to eat shit. They have nothing else. They would be bankrupt within a decade.

[TYX91101]

The decline in crude oil prices ranks as one of the most prolific collapses in market history. At last weeks lows it was down 77% from the top just six months ago. There will be countertrend bounces in the future, but you have now witnessed the highest oil prices you'll see in your lifetime.

[davidank]

I find it interesting and absurd that when oils prices were out of control and at $147 their excuse was they couldn't pump enough to keep prices low & if they could they would. Now they can pump enough and they aren't, they simply want their prices higher. Yes their economies depend on their oil, BUT they shouldn't have their eggs in one basket. They should base their economy on more than just oil. I hope OPEC and their economies crumble!

[IntellectualConcepts]

OPEC = TERRORISTS

[znuto]

greedy thieves

[terry2708]

OPEC, what a bunch of dumb fuck wankers. Lets keep squeezing these fuckers until oil is 10 bucks a barrel just like it was back in the late 90s ha ha. The only trick up their sleeves is turning the oil tap on and off to reduce supply. But isn't that one of their business principles in the Middle East? Fuck people up the asshole to make a dollar!!! Start using more ethanol fuel blends and those fat pricks will be fucked. Lets send the Middle East broke. No money left for TERRORISTS and FUCKHEADS

[gunnguy12]

If Opec had its way they would suck every dime out of every country possible and destroy the worlds economy. Eventually destroying themselvs. Opec is like a dumb fat kid in a candy store. Keep it up Opec the world working hard on relieving itself from your extortion. Stupid is as stupid does!!

[MuslimGhost]

**** opec.. I hope solar and alternative energy bankrupts these filthy greedy swine.

[Planet095]

ARE YOU SERIOUS>...................... they want to raise PRICES?!?!?! dick fucks they expect us to pay for outrageous prices for there own well being fuck that .. They should be put on a island with 10 dollars 1 gallon of gas in a car that gets 21 miles to the gallon and have to drive 180 miles nearest gas station price 4.58a gallon assholes

[pearljjadena]

Did anyone else hear that a further drop in prices would be disastrous for 2 of the 13 countries in OPEC? Im not saying that they are right, but this is far more complicated than OPEC just sticking us in the @ss. This is an incredibly complex intertwined economic global system, (in ALL resources, NOT just oil) so whatever they do will have effects through out the world. Sorry to say USA its NOT all about us this time. Ps, I still think it would be funny to watch demand drop in retaliation.

[mandy26lez]

all i can say is fuck opec and oil keep a droppin baby wooohooooooooo!!!!!!!!!!!!!!!

[philnottinghill]

Think about Equitorial Guinea [EG]!

[philnottinghill]

It is SCANDALOUS that UK does not do anything to ensure SUSTAINABLE DEVELOPMENT!

The UK is contaminated with a DECEITFUL FRAUDULENT TRECHEROUS LYING Mandelson!

How many more times will Mandelson the Trotskyist Communist New Labour "Lord" deceive us?

[Yourdeadmeat69]

They can cut 10M barrels, it won't matter. Suddenly $70 2007's ceiling is the floor? BS! Save money and the US by shifting to these wonderful alternatives: Electricity, which feeds the local utility or wood/pellet stoves. Every dollar taken from overseas oil, invested in local US produced wood and pellet stoves or electrically driven heat sources, is one more dollar staying stateside, and one less dollar going overseas where it hurts us and kills our troops.

Wake up America! We can DO THIS!

[pearljjadena]

You said it! lol, Im actually kind of appalled at our blatant sense of entitlement. I mean the oil belongs to other countries. We honestly cant blame them when they occasionally tell us to bend over and take it up the you know what lol. That is what happens when you become dependent on someone else. And why should they risk the stability of their own countries to give us cheap oil??? Anyone who thinks this is WAY out of touch with how the real world works.

[poteed]

It is an interesting question to consider. What is more important: a brief run of low oil prices for Northern consumers or a stable level of funding for Southern nations?

[MossadAgentWatching]

this Algerian fella is trying his best to scare the markets claiming that 1.8 was cut ...while in fact Saudia and other major producers will keep on flooding the markets with cheap oil as they have always done in the 80s ...I see the oil going bellow $50 before 2009 , that's what hard core insiders have told me

[d3adp001]

well putting the price at 200.00 a barrel would be stable too. Just put it there and leave it. If they would just use a fair and reasonable system of pricing for their oil would make it stable too. 70% equal hardcost, 20% equal overhead, 10% equal profit. the price would not flucuate unless inflation pushed it up, and that would happen equally everywhere, so it would be stable.

[steven3marks]

hmmm i dont remember opec complaining last year when oil was at these prices. opec is like a dog that has had a taste of blood and cant stop.

[jerkinp]

I can see that many people are unhappy about the potential of oil prices going up. But OPEC cartel exists to make more money for these poor petroleum producing nations so they can develop. Not all members of OPEC are like Qatar. Besides the Western gas and oil corporations make more than the countries that they drill in. The financial crisis is the fault of the U.S. The American financial companies and American people spread the economic crisis like a plague to other nations.

[Herold1966]

they got u there where it hurts most.

[OrphanPaper]

its disgusting poor to create the state of israil after there terror campaign on philistines , then pretend it never happened

[zzbacardizz]

exxon and opec can eat balz

[sugarpuddin88]

America pumps over one billion cubic feet of natural gas back into the earth every 24 hours at Gill Island, Alaska

Sheeple are ignorant

[BoomerNavy70]

Screw OPEC.

I think we need to form an organization in the West like OPEC for food so that when the price of oil starts going through the roof we just shoot of the price of food to the Middle East. You can't grow very much in the desert.

Let Them Eat Sand.

[pearljjadena]

Uuuummmm except we only make about 30% of our own food, where do we get the rest? Various other countries export it in. Btw, China supplies most of the exports to the Middle East (53% of their exports in fact). We are truly a dependent Nation, and THAT is why we are in the economic mess that we are in now. We have very little to leverage with.

[pannoni1]

As oil drops, you Middle Easters will REALLY BE THE LOSERS! With much less money earned from oil, economic growth over there will PLUNGE. The only way I regularly get AlJazeera here is from Google News searches.

[sexymalcom1970]

The cuts were not sufficient. The Saudis increased production to help the US. Its time that the greedy western govts pay the true price of oil that they are so keen to mass murder people to obtain. That cost is $110-150. This price will cut oil use and will help the environment. OPEC should think in terms of the population in the developing countries whom rely on this revenue and not on those greedy nations whom exploit this resource

[islandluc]

the more oil drop, the less money going to the fucking muslims terroist

[ngonea]

Terroist are in the W.H. they have been terrorizing the rest of the world for centuries. learn true history, good starting place, "Noam Chromsky"

[officialusa]

screw opec, go green

[anthonyfoxtrott]

...it's venzlua's and, more regrettably, iran's stupidity to build economies on high, over-inflated oil prices...stupid fools. and now the IMF accueses the South African Rand as being over-valued at $1:R7...it's all part of maintaining a high demand for the UScommon trade bond aka the US$. where will the greed end? BrettonWoods screwed us all - i hope your eyes are open

[deliciousmorton]

i don't trust anyone who wears a suit.

[TECHKLEC]

...or tan slacks at work.

[rataMacue22]

Fuck OPEC. Fuck their price troubles. Fucking piss me off.

[Type59]

Prices are volotile. Esily go over 100 dollars in a few months time?

[x11115]

oil price troubles. what crooks. they multi billionaires are not in trouble. the price should be 15 dollars a barrel for that crap. people should have to pay that much for energy cost.