Screw OPEC

[spookyturtle 9,466]

OPEC will be meeting to discuss major production cutbacks in an effort to keep prices from falling. Some of the countries such as Venezuela and Iran have based their budgets on oil selling in the $120 range. Now they fear that they will have a budget shortfall. ** them, and welcome to the rest of the world. Discuss.

[Trumplestiltskin 5,791]

OPEC will be meeting to discuss major production cutbacks in an effort to keep prices from falling. Some of the countries such as Venezuela and Iran have based their budgets on oil selling in the $120 range. Now they fear that they will have a budget shortfall. ** them, and welcome to the rest of the world. Discuss.

Well they do have their hands on the faucet as it were....

[IAMX 3,055]

I always wondered why people supported those who could possibly say their capital is anything other than a stink. They completely evade the supply and demand method of setting prices, artificially raise their own prices, and the best one is "fears" increasing prices. More made up #######. #### OPEC.

[spookyturtle 9,466]

OPEC will be meeting to discuss major production cutbacks in an effort to keep prices from falling. Some of the countries such as Venezuela and Iran have based their budgets on oil selling in the $120 range. Now they fear that they will have a budget shortfall. ** them, and welcome to the rest of the world. Discuss.

Well they do have their hands on the faucet as it were....

True, but they act like they are above the fate the rest of the world is feeling due to the economic downturn. If the leaders of the US weren't in bed with big oil, this problem should have been solved by now. The oil embargo was in 1973. Thirty five years later, our leaders to be pledge to eliminate buying oil from OPEC, but it will take 10-15 years to do so. And in the meantime, we'll work on alternative energy sources. If we had started all of this 35 years ago, we would have alternative energy and a greatly reduced dependence on imported oil. OPEC should have been out of the picture 15-20 years ago. Shame on us.

[mawilson 2,133]

Iran and Venezuela need oil prices at $95 a barrel to balance their national budgets,

Russia needs $70 (draft budget for 2009 is based on oil prices of about $95) a barrel

and Saudi Arabia needs $55 a barrel. Venezuela's budget needs somewhere between

$40 and $80 a barrel.

Current price: $75

[spookyturtle 9,466]

From msnbc.com: http://www.msnbc.msn.com/id/12400801/

"If OPEC does cut production, prices could return to the upside over the next three to six months," said Costanza Jacazio, an oil analyst with Barclays Capital in New York.

She said tighter global supplies could eventually push prices back toward the $90 range, a level believed to be favored by several OPEC members including Iran and Venezuela.

Oil-producing countries are facing steep serious budget shortfalls as oil prices come down from record levels. Khelil has said OPEC may cut output again at a meeting in December, and that the group considers the oil market oversupplied by about 2 million barrels a day.

Investors are also keeping a close eye on whether non-OPEC producers, such as Russia, will reduce supply as analysts lower price expectations for next year. Deutsche Bank on Monday cut its 2009 oil price forecast to $60 a barrel from $92 and predicted $57.50 for 2010.

"Producers are getting concerned about this downward spiral in pricing since the summer," said Victor Shum, an energy analyst at consultancy Purvin & Gertz in Singapore. "Some governments have based their budgets higher than current prices."

Oil market traders are also closely watching economic conditions in the U.S.

Federal Reserve Chairman Ben Bernanke told the House Budget Committee on Monday that a fresh round of government measures might help ease the country's downturn. There were also signs Tuesday of a reviving credit market as bank-to-bank lending rates eased further.

[sloth 0]

Gas jockeys from another we need to drill our own so we don't have to relay on towel heads.

[almaty 19]

i see eric is back

[sloth 0]

i see eric is back

Not ERIC you fuking donkey smalls balls.

[almaty 19]

lol.......eric..banned from expats..and crawling back to vj..under yet another alias...........if you not eric, then maybe i post a few pictures of him, so you can see if you know him

[sloth 0]

What ever you say bosco breath not ericthe onl way you can to fight back at is with pictures you are a very low life son of an azz.

[Ban Hammer 13,345]

lol.......eric..banned from expats..and crawling back to vj..under yet another alias...........if you not eric, then maybe i post a few pictures of him, so you can see if you know him

banned from expats too? i've so got to catch up on my reading over there.

hey eric, that should look good on your resume, booted off two websites!

[sloth 0]

lol.......eric..banned from expats..and crawling back to vj..under yet another alias...........if you not eric, then maybe i post a few pictures of him, so you can see if you know him

banned from expats too? i've so got to catch up on my reading over there.

hey eric, that should look good on your resume, booted off two websites!

This is not eric you fool you want to roll with me #######?

lol.......eric..banned from expats..and crawling back to vj..under yet another alias...........if you not eric, then maybe i post a few pictures of him, so you can see if you know him

banned from expats too? i've so got to catch up on my reading over there.

hey eric, that should look good on your resume, booted off two websites!

This is not eric you fool you want to roll with me #######?

[46]

Gas jockeys from another we need to drill our own so we don't have to relay on towel heads.

Angry, racist and illiterate is no way to go through life, son.

[Ban Hammer 13,345]

lol.......eric..banned from expats..and crawling back to vj..under yet another alias...........if you not eric, then maybe i post a few pictures of him, so you can see if you know him

banned from expats too? i've so got to catch up on my reading over there.

hey eric, that should look good on your resume, booted off two websites!

This is not eric you fool you want to roll with me #######?

lol.......eric..banned from expats..and crawling back to vj..under yet another alias...........if you not eric, then maybe i post a few pictures of him, so you can see if you know him

banned from expats too? i've so got to catch up on my reading over there.

hey eric, that should look good on your resume, booted off two websites!

This is not eric you fool you want to roll with me #######?

double posts just like eric too.