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OPEC Cuts Production, Prices Fall Anyway



To the towel heads and other oil pirates and exporting countries.

thefinger_red.gif
 
Sabrewings said:
To the towel heads and other oil pirates and exporting countries.
Click to expand...

Again with the broad strokes. You DO realize the US is an oil exporting country, too? Japan and Israel, last I checked, didn't have huge oil fields. And Israel isn't exactly BFFs with other Middle East countries.
 
There's been a price jump near me since the OPEC cut of about 8-10 cents. Probably won't change much with Christmas coming.
 
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sadly I hope I am dead and gone long before that happens...probably not that lucky but hopefully...oh and don't take this as me wanting to die early/young...I don't.
 
JEFFSGTP said:
sadly I hope I am dead and gone long before that happens...probably not that lucky but hopefully...oh and don't take this as me wanting to die early/young...I don't.
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yeah same here, it would get pretty ridiciulous if we did. who knows what will happen
 
Deezul_AwT said:
Again with the broad strokes. You DO realize the US is an oil exporting country, too? Japan and Israel, last I checked, didn't have huge oil fields. And Israel isn't exactly BFFs with other Middle East countries.
Click to expand...

Yes, I know that. "oil pirates and exporting countries" was a play of words on OPEC. Since not all of OPEC are towel heads, I had to add that reference. :rolleyes:
 
Sabrewings said:
To the towel heads and other oil pirates and exporting countries.

thefinger_red.gif
Click to expand...

:th_laugh-pointup:



:th_BSflag-big:I don't believe that OPEC has cut production...what would be the point? Whether it happened or NOT,this "cut in production" that the media is talking about, I believe to be just a ploy (we are losing money we have to raise the gas prices) by OPEC with the assistance of the media to prepare consumers (US, meaning you and me) for gas price gouging once again.
 


This whole thing is just beyond rediculous. This year was already marked another record profit year before the fall of the gas prices. Jen heard last night on one of the news shows that if the barrels arent $60-$80ish per barrel then they were losing money???? Now HOW is that supposed to make any sense?!!! Maybe if they had a fixed profit per gallon and NOT a % profit per gallon that goes up when the cost goes up then would be crying over not making as much money since when it cost $150 per barrel there was more to be made off of it because the profit is a % and not just a set price. In my eyes who cares if the prices drop like this? Produce the crap out of it and sell it cheap-the higher volume of sales will keep the income higher than raising the prices and cutting production and then everyone is happy but greed always seems to win and with prices cut well over 60% of what they were mid summer they definately saw the potential for greater profits. Last week I filled up both trucks at $1.27/gallon for 87 octane. Monday it was $1.69/gallon for 87 octane. $.42 in a few days??? WTF is that about- that is a 33% raise in cost!!!!! Today it dropped down to $1.55 pretty much at all stations in town and we even saw $1.46 at a few. Some states have a cap on price hikes and if not followed someone gets a fine slapped on them. There is no reason for any of this but what do you do? Grin and bare it I guess lol. Life goes on :th_wtf: hehehe
 
to be honest, I dont think they will get everyone to cut production either. The global economic downturn is hurting everyone and they are going to need all the oil sales they can get, even at reduced prices, to sustain their oil supported economies.

This is where OPEC, among others, and the oil companies screwed themselves. They let the price get so out of control and did NOTHING to try and slow it down or turn it back but ATE UP the profits and money coming in and made big headlines over it. And now, not only have habits changed to the point people were looking for anyway to cut back on gas usage or lower their gas bill that its become a focal point for them and they will probably be hard pressed to go back to their old ways or buying big gas guzzlers just because they can.

The oil producing countries like Saudi and others enjoyed it too, lived high on the hog and rolled in the billions we sent to them. They relished in the higher oil prices while people living paycheck to paycheck had to make sacrifices just to make it to work.

Now, with the prices falling out the bottom, the global economic downturn, and demand at historic lows, collective miles driven plummeting THEY can scramble and figure out how to make ends meet for a while.

I surely hope Obama is true to his word and makes a monster push in the renewable energy sector and maybe we can continue to give them our collective finger as we find better and more sustainable ways to go forward. I shall shed a tear not for either OPEC, Exxon-Mobil or any of the others involved that just sat by and let it go rampant out of control while so many suffered trying to figure out how to put enough gas in their vehicles so they could continue to go to work and support their families.
 
The Saudis are one of the few OPEC countries that can afford to cut production. They are smart enough to have diversified and not rely solely on oil production. Not to say that they don't need it, but they can suffer with it. UAE as well has diversified. But Venezuela, Iran, and *****ia, for example, have to keep the oil flowing to keep the money coming in.

The money the US provides OPEC is a big reason why Chavez in Venezuela is all talk. If he went through with his constant threats to stop giving the US oil, he'd be tossed out of office in days.
 
Aww shucks. You mean they liked having $147 oil, but don't like the $36 oil? They pretty much pushed the economy over the edge with the damn $450/gallon gasoline.....when you can't afford to go to work, you can't work, can't pay your bills......

of course, this is just my opinion, and I'm probably wrong. Just let me see it my way. lol
 


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