Are we watching the death of OPEC?

[Brutus]

ZZ loylalists heard it here first. http://www.blackjackinfo.com/bb/show...highlight=opec




The fundamental problems of the once-mighty Organization of Petroleum Exporting Countries are being laid bare by falling prices and production cuts.

Is this the end of OPEC?
The plunge from $148 a barrel to $50 a barrel in less than five months has opened huge fissures in the Organization of Petroleum Exporting Countries. Some members, such as Iran and Venezuela, are desperate to raise oil prices so they can balance their national accounts. More-conservative members, such as Saudi Arabia, can balance their budgets even at current prices and have room to fear they will be the scapegoats if the global recession deepens.
We've sat deathwatch for OPEC before, but this time the cartel's future looks especially bleak. Its Nov. 29 meeting in Cairo, Egypt, ended with members deeply divided. The Venezuelas and Irans of OPEC have dug themselves into such a big spending hole that their only way out would be for OPEC to raise prices by cutting production while letting the cartel's hardest-pressed members cheat.

http://articles.moneycentral.msn.com...h-of-opec.aspx

aha !

[aslan]

Originally Posted by Brutus

ZZ loylalists heard it here first. http://www.blackjackinfo.com/bb/show...highlight=opec




The fundamental problems of the once-mighty Organization of Petroleum Exporting Countries are being laid bare by falling prices and production cuts.

Is this the end of OPEC?
The plunge from $148 a barrel to $50 a barrel in less than five months has opened huge fissures in the Organization of Petroleum Exporting Countries. Some members, such as Iran and Venezuela, are desperate to raise oil prices so they can balance their national accounts. More-conservative members, such as Saudi Arabia, can balance their budgets even at current prices and have room to fear they will be the scapegoats if the global recession deepens.
We've sat deathwatch for OPEC before, but this time the cartel's future looks especially bleak. Its Nov. 29 meeting in Cairo, Egypt, ended with members deeply divided. The Venezuelas and Irans of OPEC have dug themselves into such a big spending hole that their only way out would be for OPEC to raise prices by cutting production while letting the cartel's hardest-pressed members cheat.

http://articles.moneycentral.msn.com...h-of-opec.aspx

aha !

I imagine they will get their act together with the less needy members picking up the slack for the others if only to maintain the normally lucrative control of market. If not, when things improve for the Iranians and the Ven's we'll be back in the same fix as before. It is refreshing to see them fighting each other for a change, and not zeroing in on us and other customers for a change. This buys us a little time to get our energy act together.

[glovesetc]

and deflation stes in they will have a hard time raising prices by lowering output . I think they are getting the picture that we are serious about alternative energy sources and renewable resources mainly . However if and when the economy returns to its glory days usage will go up and so will the price . Oil is a finite resource as we all know .

[zengrifter]

Originally Posted by glovesetc

and deflation stes in they will have a hard time raising prices by lowering output . I think they are getting the picture that we are serious about alternative energy sources and renewable resources mainly . However if and when the economy returns to its glory days usage will go up and so will the price . Oil is a finite resource as we all know :

We don't ALL know this - but its what our fascist rulers want us to believe. zg

See - Fossil Oil Theory vs. Inorganic 'Abiotic' Oil Theory

[aslan]

Originally Posted by zengrifter

We don't ALL know this - but its what our fascist rulers want us to believe. zg

See - Fossil Oil Theory vs. Inorganic 'Abiotic' Oil Theory

Interesting little tidbit that could turn the argument on its head.

[blackchipjim]

Don't get yourselves in a lather about opec too much. The poor people have spoken and it's going to get louder. It doesn't matter because if you don't have a job to go to or money for anything else you don't need gas or any products produced by petroluem. Greed and Greed are the cause for the worlds problems now and they will a pay high price for it. blackchipjim

[aslan]

Originally Posted by blackchipjim

Don't get yourselves in a lather about opec too much. The poor people have spoken and it's going to get louder. It doesn't matter because if you don't have a job to go to or money for anything else you don't need gas or any products produced by petroluem. Greed and Greed are the cause for the worlds problems now and they will a pay high price for it. blackchipjim

What goes around, comes around. Justice is always meted out, but IMHO, not always in this world (debatable), but all will likely agree, not always in the present generation. If there is anything we can do about it, fine, but I agree that getting into a lather, save it be a worthwhile and actionable lather, if you will, does nothing to make the situation better and is bad for the indigestion.

[glovesetc]

Originally Posted by aslan

What goes around, comes around. Justice is always meted out, but IMHO, not always in this world (debatable), but all will likely agree, not always in the present generation. If there is anything we can do about it, fine, but I agree that getting into a lather, save it be a worthwhile and actionable lather, if you will, does nothing to make the situation better and is bad for the indigestion.

Indeed it is buddy . Instead of getting into a lather have your wife, mistress, or significant other slip into a garter belt , stockings, high heels and sit on your lap for an hour or so . Relieves stress, takes care of indigestion, relaxes your body { especially one part-lol- } and you will feel better about the world collapsing - LMAO!

[blackchipjim]

This is just another example of addiction and cure. The one thing that opec didn't count on was the addict cleaning themselves up. You push hard enough and people will push back and get out of the vicious cycle of addiction. Yes we will have to stop driving big pig hauling machines if we are to survive but we will survive. I say take your oil and flush your toliet with it you greedy @#$@#$ you deserve to be pushed back into the dark ages. blackchipjim

[glovesetc]

is for umleaded regular-$1.479 at most stations with a few at $1.579 and some at $1.429 and when I filled up at Costco the service manager said he thinks gas will fall down another $.10 over the week-end .