OPEC will not increase production

[JimH52]

OPEC sees no need to pump more after price surge: Financial News - Yahoo! Finance

So when will the price of crude begin to be a national security issue? If this continues our economy is going in the dumpster. Can we afford to sit around and let the Saudis and Chavez do this to us? Should we contemplate military movement?

The sand fleas are choking us to death.

 

[Paulie]

Yeah, let's blame OPEC now. Let's blame oil companies, OPEC, investors....

Let's blame everyone but ourselves for allowing our government to treat our currency like the toilet paper that it ultimately is.

In a few years or less, when we're paying $10/gal for milk, let's blame the cows for not fucking more to create more cows to dispense more milk.

 

[Paulie]

Hey, and let's complain about refineries hurting our environment, while we simultaneously complain that we pay too much for gasoline that, after it's completed cycle in an internal combustion engine, hurts the environment.

 

[JimH52]

Can't argue with you. I was around during the 70 " gas shortage." When it was over, we forgot and went back to our gas hogs. We have other paid lip service to conservation and alternate energy sources.

 

[RetiredGySgt]

OPEC sees no need to pump more after price surge: Financial News - Yahoo! Finance

So when will the price of crude begin to be a national security issue? If this continues our economy is going in the dumpster. Can we afford to sit around and let the Saudis and Chavez do this to us? Should we contemplate military movement?

The sand fleas are choking us to death.

We shouldn't invade Iran because, well because. BUT we should invade our allie Sadia Arabia? Get a gripe.

 

[JimH52]

We shouldn't invade Iran because, well because. BUT we should invade our allie Sadia Arabia? Get a gripe.

Makes as much sense as invading Iraq and helping the Iranians. Your boy justified that, now didn't he?

 

[roomy]

Flatten the whole fucking lot of them and take all of the oil.It will happen, sooner or later.

 

[JimH52]

Flatten the whole fucking lot of them and take all of the oil.It will happen, sooner or later.

You may be right but I don't want to be around to see it.

 

[BrianH]

OPEC sees no need to pump more after price surge: Financial News - Yahoo! Finance

So when will the price of crude begin to be a national security issue? If this continues our economy is going in the dumpster. Can we afford to sit around and let the Saudis and Chavez do this to us? Should we contemplate military movement?

The sand fleas are choking us to death.

While I don't particularly care for OPEC either, it's not OPECs supply that is the problem. They've made numerous statements that the supply is not down... It's also a stretch to suggest that consumer demand for oil has increased sharply. I refuse to believe that demand has increased so much as to cause the price per barrel to rise 40 dollars per barrel in 6 months. A devaluation of the U.S. dollar added to price manipulation has caused this problem. We need to become independent of ME oil and hold our gov. more accountable for creating this mess.

 

[JimH52]

The next President is going to have real challenge. The dollar is sinking, we are definitely in a recession, and of coursehere is always bush's war that we ned to contend with.

Maybe we could just send him a bill for 500 Billion Dollars.

 

[BrianH]

The next President is going to have real challenge. The dollar is sinking, we are definitely in a recession, and of coursehere is always bush's war that we ned to contend with.

Maybe we could just send him a bill for 500 Billion Dollars.

I'm not sure what is going to happen. We have to completely change our entire economic "situation" to get things where they need to be. Capitalism is great and all, but we're running ourselves into the ground, and the Oil Market and price manipulation is ruining the economy that we do have. The price of oil is rising, causing everything else to rise. The price of food products have doubled.... As well as everything else. I think we've got a real problem on our hands until someone figures out who's jackin with the prices of oil.

 

[Annie]

I'm not sure what is going to happen. We have to completely change our entire economic "situation" to get things where they need to be. Capitalism is great and all, but we're running ourselves into the ground, and the Oil Market and price manipulation is ruining the economy that we do have. The price of oil is rising, causing everything else to rise. The price of food products have doubled.... As well as everything else. I think we've got a real problem on our hands until someone figures out who's jackin with the prices of oil.

I don't think 'we' have a real problem on our hands. The markets will correct, if Congress stays out of the way. It may hurt me and others more before it does those that make more, but eventually we'll all survive.

Already the demand for oil in this country is down from a year ago. SUV sales are dead in the water. GM is rushing out Volt and others aren't far behind. E-bicycles are hitting in US, first time ever. There's a huge impetus to come up with something better than ethanol. Mass transit rates are jumping and people are using common sense to drive less.

That's what $4 gas prices are doing thus far. Just wait as they go higher. Trust me, people will not go bankrupt and by the time OPEC realizes it, I'm hoping the lack of demand will not go away.

 

[BrianH]

I don't think 'we' have a real problem on our hands. The markets will correct, if Congress stays out of the way. It may hurt me and others more before it does those that make more, but eventually we'll all survive.

Already the demand for oil in this country is down from a year ago. SUV sales are dead in the water. GM is rushing out Volt and others aren't far behind. E-bicycles are hitting in US, first time ever. There's a huge impetus to come up with something better than ethanol. Mass transit rates are jumping and people are using common sense to drive less.

That's what $4 gas prices are doing thus far. Just wait as they go higher. Trust me, people will not go bankrupt and by the time OPEC realizes it, I'm hoping the lack of demand will not go away.

That's exactly what I mean, demand is down, yet prices in the last 6 months have increased and it's being blamed on demand and low supply. I don't mean that we will all die tomorrow. But what I do mean is that if this current trend continues, we'll be in trouble.

 

[Annie]

That's exactly what I mean, demand is down, yet prices in the last 6 months have increased and it's being blamed on demand and low supply. I don't mean that we will all die tomorrow. But what I do mean is that if this current trend continues, we'll be in trouble.

Things do not happen overnight, many wish they did. Congress is now looking for a second wave of tax rebates, while the numbers are dicey and the results of the first wave cannot yet be measured.

We all need to calm down.

 

[manu1959]

That's exactly what I mean, demand is down, yet prices in the last 6 months have increased and it's being blamed on demand and low supply. I don't mean that we will all die tomorrow. But what I do mean is that if this current trend continues, we'll be in trouble.

demand is up in china, russia and india.....

 

[BrianH]

Things do not happen overnight, many wish they did. Congress is now looking for a second wave of tax rebates, while the numbers are dicey and the results of the first wave cannot yet be measured.

We all need to calm down.

I'm sitting here pulling my hair out....AHHHHHH!!!!!LOL

 

[BrianH]

demand is up in china, russia and india.....

This may be true, but deman for gasoline has been steadily going up in these regions as more and more automobiles become available. What I'm saying, that demand cannot have increased so much as to naturally raise oil 40 dollars per barrel in 6 months. It took years for it to rise from 50 dollars a barrel to 90 dollars a barrel (which is what it was in December 2007)

 

[Annie]

I'm sitting here pulling my hair out....AHHHHHH!!!!!LOL

Aren't we all. I just took my car to have body work done. I asked the GM which car had the best mileage. I have a Mazda 6, he said the Mazda 3. I may trade in later in the year. I drive little in the summer, not to mention not getting paid. Any changes will have to come in September-November.

 

[JimH52]

I don't think 'we' have a real problem on our hands. The markets will correct, if Congress stays out of the way. It may hurt me and others more before it does those that make more, but eventually we'll all survive.

Already the demand for oil in this country is down from a year ago. SUV sales are dead in the water. GM is rushing out Volt and others aren't far behind. E-bicycles are hitting in US, first time ever. There's a huge impetus to come up with something better than ethanol. Mass transit rates are jumping and people are using common sense to drive less.

That's what $4 gas prices are doing thus far. Just wait as they go higher. Trust me, people will not go bankrupt and by the time OPEC realizes it, I'm hoping the lack of demand will not go away.

Your second paragraphs seem to suggest othewise. We can come out of this but the right decisions need to be made and the right actions taken. Knee jerk is only going to make things worse.

Each time DC sends out incentive checks the huge deficit increases more...DUH!... the dollar shrinks and crude oil increases.

 

[Toro]

The President of OPEC came out today and said that based on fundamentals, oil should be at $70. Its higher, he claims, because of speculation, dollar depreciation and geo-political tensions.

I have no idea if he is merely covering his derriere since OPEC are liars, as are all cartels, but at least some of the price is due to speculation.