OPEC Oil price manipulation
 

OPEC are due to meet this week in order to discuss reducing the current amount of oil produced and exported. This is a blatant attempt to increase the price of oil (and their profits) by reducing the amount availiable on the market.:wall:

BBC news has reported that OPEC are reluctant to allow the price of oil to fall below $70 a barrel.

This is likely to affect the price of fuel, food production, transport, and employment.

More Daylight Robbery.:lightsabre:

Re: OPEC Oil price manipulation
 

Don't worry about it, it will have limited effect.

Supply and Demand control the market price of course, but so does psychology and right now, the world is going through a "fear" cycle, which means that they believe that the price of everything is going down, and thus the price WILL go down.

They would need to make a very large cut to Oil to make a lasting impact, and that wont happen.

So expect oil to see a small $5-10 bump and then go down again.

Either way, when the economy begins to recover in 2010, oil use will go up again and the price will catch up soon enough. In the meantime, people will be trading in their SUV's and gas guzzlers for Toyota Echo's and Honda Civics.

Re: OPEC Oil price manipulation
 

not all oil countries are in Opec, and you just need a few of the smaller ones pumping out a little more to cover the shrinking demand and the rest will follow.

Re: OPEC Oil price manipulation
 

Anyone want to guess how much oil we have sealed up :wink2:

Oil Prices Slip Below $70 a Barrel
On Friday, the price of crude closed at $64.15 a barrel
http://www.nytimes.com/2008/10/17/bu.../17oil.html?hp

updated 4 hours, 17 minutes ago
Gas prices drop record amount

http://i2.cdn.turner.com/cnn/2008/US....prices.gi.jpg

Seems the opposite of 'predictions'


Besides we could always find a reason to go to war with Veneseula... lots of oil there:mfr_omg:

Re: OPEC Oil price manipulation
 

lol

Re: OPEC Oil price manipulation
 

Well of course! OPEC is a cartel, that's the whole idea :p
It's just one of a thousand things that people should be peeved about.

Re: OPEC Oil price manipulation
 

Check out Lindsey Williams Granada Forums talk about the "energy non-crisis" on Google videos.

The push and pull between OPEC and US interests looks pretty ridiculous afterwards.

Re: OPEC Oil price manipulation
 

the usa is on the board of opec.. goldman sachs decide how much oil is on a daily basis.. this is just the arabs attempt to weild what little remaining power they have before they are sent packing back inot the deserts by the new world order.. this will of course be used to make it look like its all the arabs fault. so the general sheeple will go" its all their fualt lets go bomb the arabs".. simple minds... obama will say lets get control of the noil ect.. ww3 will be made to appear a if it over oil reserves which we all know is as far from reality as possible