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OPEC - A bunch of Idiots!

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Old 03-04-2004, 11:48 AM
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Angry OPEC - A bunch of Idiots!

Well, since we all run gas in out boats(and lots of it), this is related.

Just last week, they said that they would cut production to raise prices, now they want to lower prices...WTF? Did some sheik or prince need some extra pocket moey or something last week?

http://news.yahoo.com/news?tmpl=stor...0016&printer=1

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Old 03-04-2004, 12:32 PM
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The wind must have changed directions. OPEC has ADD (attention deficit disorder).
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Old 03-04-2004, 12:53 PM
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They are far from Idiots.

I call the "Thieves".

By the way, which is higher up, a "Sheek" or a "Shake"?
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Old 03-04-2004, 02:20 PM
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The thing you should be scared of, is that right now at 1:15pm Central time, Oil is trading on Nymex for 36.54 a barrel.
This comes after the weekly EIA storage report came in this morning. We in the industry call March through around May the LUL months, or slow months. If this continues, in June you will see substantial increases in the price of both Oil and Natural Gas.
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Old 03-04-2004, 02:26 PM
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The devaluation of the dollar is contributing to the rise in oil prices.

Demand for oil/gas increases in the summer.

Do that math.


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Old 03-04-2004, 02:36 PM
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OPEC...Oil Pirates Exasperating Civilians. They are a modern day Mafia. Russia is pumping like crazy...with a hand pump...but Shell will show them how and they have more oil than anyone. They don't want any part of OPEC and should put some hurt on them...soon hopefully
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Old 03-04-2004, 02:48 PM
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You guys think Opec is to blame??? I don't know if many of you guys remember the oil embargo of 1973 and 1978..... in 1973 ... the cost of oil skyrocketed up to the price of $35.00 a barrel and more..... guess what the cost of gasoline was by the gallon after the embargo? It went all the way up to .60 cents a gallon.... "outrageous!!! "everyone said.... how dare those "towel heads" do this to us!... guess what the cost of oil by the barrel is today.... $35.80.... so..... where is the difference in cost between the cost of crude oil and gasoline?.... it isn't going to the OPEC countries.... it's going to the oil companies... When you factor in inflation... the cost of the crude is half the price... and yet the cost of gasoline is triple.... go figure... The oil companies have lots of excuses... here in California the excuse is "we have to make 'boutique' gasoline to meet the smog requirements."Plus here in California gasoline has become a "cash cow" to levy taxes upon. So we get it double here.....
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Old 03-04-2004, 02:52 PM
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Weather is the main driving force on your prices. Summer is hot, more Oil burned to cool things, same with Winter for heat.
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Old 03-04-2004, 02:55 PM
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Quote:
Originally posted by Reed Jensen
...guess what the cost of oil by the barrel is today.... $35.80

$36.64 1:56pm Central
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Old 03-04-2004, 03:57 PM
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No doubt we are on the short end of this stick.

The funny thing about oil prices, it always seems to be an artificial price. Since the cost to suck it out of the ground remains the same, and the cost of the oil is ZERO to the country that sits above the reserve, where is the rational for these price increases?
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