OPEC gives America the finger

A

AAAintheBeltway

OPEC's surprise quota cut is a stab in the back of this country and the world economy. Suposedly the Kuwaiti's were a moving force. No doubt the Saudi's approved as well, since any decision they disagree with becomes moot when they start cheating.

This leads to several questions:

1. Why in the world are we insisting that OPEC readmit Iraq? Shouldn't we insist that Iraq stay out of OPEC and produce for all its worth?

2. Are the Kuwaiti's the ungrateful pricks I always assumed they were, or is something else happening? What would it take to instigate a "democratic uprising" there? We effectively control the f*cking place anyway, why not just make it official?

3. Is this the Saudi's purile manner of letting us know they're weary of post-9/11 revelations about how they have supported terrorists?

4. Are the Bushies just total toadies for the Saudi's? I criticized Clinton for being a doormat for the Saudi's and Yemeni's in the wake of the Khobar Towers and USS Cole attacks. So how does Bush respond to an attack on our economy? Perhaps some indictments against Royal family members would focus their attention.

Higher oil prices are a tax on the world economy. Entering an election year when the state of the economy is likely a make or break issue, the last thing the administration needs is for its tax cuts and wild spending to be offset by a bunch of assholes from OPEC. Showtime, Mr. President.
 
Quote from AAAintheBeltway:

Are the Bushies just total toadies for the Saudi's?
More...

duh. 9-11 skies full of saudi terrorists and the hillbillies running riyadh get invited to the president's personal residence.
 
Could some please give me a concise two or so paragraph explanation of what OPEC is, what say the United States has in OPEC's decisions and how this is going to affect the average American?

I don't know about your neck of the woods, but the price of gas has been jerked around lately at the pumps. I do understand the basics of supply and demand, but why should a cartel have absolute control over the demand? All things being equal, supply isn't going to fluctuate that much, so by yanking demand they are only going to cause prices to increase.

I understand that Americans (myself, included) have it very well when it comes to the price per gallon / litre of gasoline at the pump. I know a lot of European countries pay 2x, 3x or higher for their gasoline.

I drive a Toyota Corolla and I get around 35 miles to the Gallon. However my parents drive gas guzzling SUVs and every time the price of gasoline goes up just 10 cents a gallon, they pay a lot more at the pump each week (driving the kids around, etc).

I drive 100 miles roundtrip each day. I pay about $5 in gasoline alone. If I had an SUV, I'd be paying $10 a day in gasoline.

Are there any links that give a good synopsis of what OPEC is, what countries compose OPEC and the history of OPEC?

Thanks.
 
think diamonds:D

DeBeers comes to anyones mind?

he who controls the spigot gets the loot.:cool: :D


ever wonder what the true inflation rates would be if energy and food were to be included:confused: :D

ofc in the US, we don't drive, we don't heat our homes, and we definitely do not eat:D :D must be dem pesky french but I digress...:D :D
 
Quote from aphexcoil:

Are there any links that give a good synopsis of what OPEC is, what countries compose OPEC and the history of OPEC?

Thanks.
More...

Opec_Logotype.gif


OPEC is an international Organization of eleven developing countries which are heavily reliant on oil revenues as their main source of income. Membership is open to any country which is a substantial net exporter of oil and which shares the ideals of the Organization. The current Members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

Since oil revenues are so vital for the economic development of these nations, they aim to bring stability and harmony to the oil market by adjusting their oil output to help ensure a balance between supply and demand. Twice a year, or more frequently if required, the Oil and Energy Ministers of the OPEC Members meet to decide on the Organization's output level, and consider whether any action to adjust output is necessary in the light of recent and anticipated oil market developments.

OPEC's eleven Members collectively supply about 40 per cent of the world's oil output, and possess more than three-quarters of the world's total proven crude oil reserves. More details can be found in the FAQ on OPEC, and in the sections on the individual Member Countries, which feature tables with selected oil, gas and economic data.

http://www.opec.org/


U.S. Oil Imports - Top 10 Countries of Origin


The 8-month average for 2002 shows that the United States has imported less oil from OPEC nations (shown in red type on the graph) than in the previous 2 years. The "Top 10" account for nearly 80% of all oil imports in each year shown.

2002 Top 10 Countries from which the United States Imports Oil
(thousand barrels per day)

fotw246.gif



U.S. Oil Dependence Remains a Problem

http://www.nap.edu/issues/19.4/fri.html

 
Quote from aphexcoil:


I don't know about your neck of the woods, but the price of gas has been jerked around lately at the pumps. I do understand the basics of supply and demand, but why should a cartel have absolute control over the demand? All things being equal, supply isn't going to fluctuate that much, so by yanking demand they are only going to cause prices to increase.
More...


Are you sure you understand the "basics of supply and demand"?
Do you even understand what "demand" is?

Because if you do, then how do you make the insane comment that OPEC can "yank" demand? How the hell are they going to pull that kind of a miracle off?

It's their ability to restrict supply that causes prices to go up. (Btw, having control over pricing is the whole reason for forming a cartel.)

AAA, you great patriot, you. I'm sure you do a great job for the party faithful (namely, allowing yourselves to sleep easy night, believing in the eternal righteousness of your cause). I just wonder, sometimes, does there exist any human logic that would justify your whining about things not going America's way due to the actions of other nations given that the actions America ROUTINELY undertakes cause things, to put it in very nice language, to not go other countries' way? Does any of this ever occur to you? If not, did it ever, and when it did stop occurring? Just curious.
 
Quote from alfonso:




Are you sure you understand the "basics of supply and demand"?
Do you even understand what "demand" is?

Because if you do, then how do you make the insane comment that OPEC can "yank" demand? How the hell are they going to pull that kind of a miracle off?
More...

Oops .. typo .. I meant yank around supply.

My bad.
 
Well said my friend!

There are times when I think that we "invaded" the wrong freaking country, especially when just about every single 911 hijacker was a Saudi national!

Come on Bush.
Pull your head out of your ass, otherwise you are going to go the way of your Dad and get voted out.

Unfortunately for us, like Father, like Son.

:eek:
 
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