Oil

Abalone · 02-12-2004, 07:00 AM

OPEC's 'Cut' and Riyadh's Future Stratfor.com
Feb 11, 2004

OPEC ministers closed their recent summit with an
announcement that the cartel stood ready to reduce its
output by as much as 3.2 million barrels per day of crude
despite oil prices remaining around $30 a barrel. The
announcement is a broadside from Saudi Arabia, which --
pinched between the weak dollar and the U.S. war against
al Qaeda -- is scrabbling for every advantage it can get.

I guess you know what this means. Higher gas prices.
Higher gas prices aren't good for the economy and in the past it has stopped economic expansion
in the U.S. and the rest of the world. In fact I recently read an article that Higher Fuel prices have
precluded all the Bear Markets since the Iranian Revolution.

What this really means is that Fishing is going to get a lot more expensive. If $3.00 per gallon
Gasoline becomes a reality this summer I will be fishing in the backyard.

Higher Crude prices are partly because of the weaker dollar but also they are a message from the
Saudies that they don't like our foriegn policy.

1pump · 02-12-2004, 02:15 PM

Yeah, saw that in the paper this morning. Great way to start the day. :depressed:

02-12-2004, 02:41 PM

I heard that they were doing this to keep the price up. I thought the oil companies were doing a good job at this already

Silver Hilton · 02-12-2004, 07:47 PM

So, I've got a question. We all know that Bush isn't the top of my list for favorite presidents, but to give the man his due, he isn't afraid of confrontation. So, why, why, why, aren't we having a little conversation with the Saudis about who is keeping the middle east safe for monarchic despotism, and why we can't get a little help in the OPEC summit in return? This is exactly the type of gunboat diplomacy that the current team is good at. So, for cryin' out loud, George, go kick some butt where it will do us some good!

Sorry, had to rant...

1pump · 02-12-2004, 08:37 PM

I don't know if it's karma, fate, providence or whatever, but nature has a strange way of balancing things out.

How else do you explain the economic lifeblood of the most powerful nation this planet has ever seen being controlled by a few goat-herders who are so backward that they still execute people for adultery?
The Mideast is regarded as the birthplace of civilization. It seems that once they developed it, they exported it around the globe but forgot to save any for themselves.

Oh, well. I don't blame them for squeezing us. I would too, if I were them. I'm sure most of the older Arabs remember what it was like during the first part of the 20th century, before oil was discovered on the Arabian Peninsula.
Wandering around in the desert wondering which goat you're gonna eat for dinner doesn't make for a lot of fond memories.

BonkBonkBonk · 02-13-2004, 08:17 AM

one word: biodiesel

Cool Texan · 02-13-2004, 08:28 AM

Two words... Stealth Bomber.

:grin:

El-Kabong · 02-13-2004, 08:36 AM

Three Words: Glass Parking Lot

it is not like the saudis said, "hey suckers, get yourself dependent on our drug, er oil"

[ 02-13-2004, 09:38 AM: Message edited by: El-Kabong ]

shalom · 02-13-2004, 09:27 AM

I had planned to go to BROWNLEE RESEVOR for three trips this year I wanted to fish three different seasons. Sounds like I will be lucky to go one time after reading this.

GOT2FISH · 02-13-2004, 09:16 PM

3.00 per gallon I cant afford 1.75. I guess I'll hitch hike

foxer · 02-14-2004, 10:40 PM

Just wait til the Iraqi oil starts to flow at consistent levels, or when Russia needs a bit more capital..prices will fall again.

Smj · 02-15-2004, 05:54 AM

The reason Bush and the other people in power don't do anything about oil prices????

Easy answer! They can still AFFORD IT!!!! They dodn't give a rip about the regular guy.

I thought we all should have gone with the "Gas Out" protests years ago, boy did I get laughed at by people with more money than me.

Smj