Oil Prices take a dramatic retreat!!!
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S.Y.L.O.
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Oil Prices take a dramatic retreat!!!
And I will help further speculating by posting this thread. Interesting read...pass it on....talk about it.
Oil's Dramatic Price Retreat Ripples Around the World - washingtonpost.com
Oil's Dramatic Price Retreat Ripples Around the World - washingtonpost.com
banana republic
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Man...I really liked reading this part:
They deliberatly try to cut production to increase demand so they can profit. Damn I'm glad the Saudi's got out of OPEC. They really have taken the teeth out of OPEC's bite by doing that. And since they are a US ally, I'm hoping things keep looking up.
The Organization of the Petroleum Exporting Countries, which in late 2006 slashed production by 1.5 million barrels a day to prevent prices from falling to $50 a barrel, bickered about prices in Vienna last week. OPEC hardliners advocated a new $100 floor on prices, but Saudi Arabia last week resisted a call to trim its output to comply with official OPEC quotas. Now the market has already broken through the $100 level, and analysts said the Saudis might be reconsidering.
They deliberatly try to cut production to increase demand so they can profit. Damn I'm glad the Saudi's got out of OPEC. They really have taken the teeth out of OPEC's bite by doing that. And since they are a US ally, I'm hoping things keep looking up.
banana republic
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Saudi's walked out on OPEC on Monday. They said that no one will be denied oil if they need it. Sounds to me like they aint going back. It's about time that cartell fell. OPEC had the world by the nutz, and they knew it. They could cut off production, and the price of oil would go through the roof...They've proven it time and time again. I'm glad Saudi Arabia is our ally...for now. 
Give it another year or two and they won't be again.
Give it another year or two and they won't be again.
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S.Y.L.O.
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i would be worried if I were them...one day...one day I say!! we will not need their oil....and they can push it back down into their sandy fucking ground. THEIR time is finite!! that we know.
I hope they have another natural resource to sell.....other than fucking sand.
I hope they have another natural resource to sell.....other than fucking sand.
Race Photographer
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you know id be really happy with giving a gas station $5 and getting 2 gallons. For those that cant do math, thats 2.50 a gallon
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$2.50 a gal is still too much IMO. I want it back to the way it used to be. If gas remained at the current rate of inflation it would be between $1.40 - $1.70 a gal. Anything over $2.00 a gal is ridiculous. Though I will admit,.. at this point I am so sick of paying almost $4 a gal,.. I would be 'happier' paying $2.50 vs what we pay now.
Hurst
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Thread TERRORIST
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Economics, kids...its all economics.....
Sometimes they increase production, sometimes they reduce production. I don't argue that there isn't a profit motive at work as well, HOWEVER you people make them out to be a lot more evil than they really are.
Sometimes they increase production, sometimes they reduce production. I don't argue that there isn't a profit motive at work as well, HOWEVER you people make them out to be a lot more evil than they really are.
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banana republic
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Do we really? Venesuala's Hugo Chavez has activly said he hates the United States and will do whatever he can to make things harder on us. Who USED to make up OPEC? Predominatly middle eastern countries. Who/where are we at war again? Is it a coincidence? I don't think so....
