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OPEC Pushing to Cut Production, Drive Up Oil and Gasoline Prices
Tuesday , October 21, 2008
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Just as Americans are finally beginning to reap the benefits of plunging gasoline prices — including more money in their pockets — OPEC is getting ready to squeeze them once again by cutting oil production and driving up prices to refineries.
The 13-nation global oil cartel — which includes Mahmoud Ahmadinejad's Iran and Hugo Chavez's Venezuela — will hold an emergency meeting in Vienna Friday to discuss the steep and rapid decline in oil prices.
"The era of cheap oil is finished," Iran's Oil Minister Gholamhossein Nozari boasted on Tuesday.
When asked what price Iran would want for its oil, Nozari declared, "The more the better."
OPEC Pushing to Cut Production, Drive Up Oil and Gasoline Prices
Tuesday , October 21, 2008
ADVERTISEMENT
Just as Americans are finally beginning to reap the benefits of plunging gasoline prices — including more money in their pockets — OPEC is getting ready to squeeze them once again by cutting oil production and driving up prices to refineries.
The 13-nation global oil cartel — which includes Mahmoud Ahmadinejad's Iran and Hugo Chavez's Venezuela — will hold an emergency meeting in Vienna Friday to discuss the steep and rapid decline in oil prices.
"The era of cheap oil is finished," Iran's Oil Minister Gholamhossein Nozari boasted on Tuesday.
When asked what price Iran would want for its oil, Nozari declared, "The more the better."
I think our greed and arrogance pretty much ruined our economy and everyone else's for that matter already!! I thought the Bush relations with all these great mideast allies was making us safe!!!!
The most brilliant oil minds in the US say drilling here now won't help.
What more do you want?
lol who? i have heard the EXACT OPPOSITE from everyone, lol. especially since the price is based on supply and demand...is your expert the attendant at your local station?
Quote:
Originally Posted by meson
The price of oil will go back up regardless of who becomes president.
really? funny, i was under the impression that oil was a a commodity traded 3 months in advance, lol.
amazing how you all think it is dependent on a president or some white guy.
lol who? i have heard the EXACT OPPOSITE from everyone, lol. is your expert the attendant at your local station?
A drip of gas wont hit your car for 10 years if we started drilling today.
The general consensus is that the rogue oil states will step up the soaking of Americans in expensive oil just because they know at some point we wont rely on it.
They will squeeze us dry for the next 10 years and get every last dime out of us that they can.
We need to lower their prices another way while we keep our own oil production and alternative energy development as secretive as possible.
Showing the US energy hand has been a disgrace and a threat to our national security.
Why is it so hard to want an ALTERNATE form of energy? Are you AFRAID of change? Do you really think drilling, which is not progress by the way, will really help? It will be 10 years before the first drop hits a gas tank. How about continuing to cut back? Oh...that's right. We need oil to power that big Chevy Suburban that drives a 3-person family. Years of greed and excess, this is what you get.
Biofuel
Electricity
Solar
Wind
Fuel Cell
THESE are the true answer to our fuel problems. When you master the alternate forms of energy, you truly become independent and will choke the Middle East off the map. If we can go to the freaking moon in 1969 in a rocket with computers that would pale in comparison to even our worst home PC's, we can master alternate forms of energy to power our cars. God, has this country become lazy!!! Stop thinking like a caveman!!!
The US has only 3% of the world's oil supply and uses 25% of it. It would take a minimum of six years to get oil once we started drilling here. Why spend billions of dollars on something that won't even begin to alleviate the demand; plus, what we have won't last—what is it? 10 years? 20 years? Instead, I think we should devote those billions to alternatives: hydrogen and electric cars, for instance. Forget about drilling for more oil and concentrate on what will help us all in the long run.
The funny thing about that 10 year time frame is that many were pushing for more drilling more than 10 years ago.
If we wait another 5 years to start drilling then guess what, it will still be 10 years before we get the oil.
That has the be the most overused, useless sentence in the whole drilling debate.
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