OPEC accuses U.S. on oil prices

[puddlejumper101]

Our dependancy on foreign oil has to stop...and not because of Global Warming...but because if we don't find a way to do this we will be China's Puerto Rico. I don't care if we have to run our lives on corn, wheat, sugar cane, trash, wind, whatever...just not on OPECs oil. This is something that affects us all...this profession is tied directly to this mess. Bush needs to leave...that's a start to fixing this mess...problem is I don't know if our new President will be up for this.

 

[atpcliff]

Hi!

So far, the Iraq war has cost over $3 Trillion dollars. I think it is actually approaching $5 Trillion in total costs now.

Our Trade Deficit is massive, which devalues the dollar. Our Trade Deficit situation won't improve in the short term, because we IMPORT SO MUCH OIL.

To fix the Trade Deficit, we have to stop importing oil, which means we need alternative transportation fuels.

Our Federal Budget Deficit's main driver is the Iraq War. We are in the Middle East to protect our oil interests.

If we didn't have to import oil, we could pull out of the Middle East, which would cut our Budget Deficit dramatically.

Energy is the #1 problem facing America right now. Getting off oil as a transportation fuel is the key to fixing our financial problems.

I don't hear ANY of the politicians saying much at all on this issue.

cliff
GRB

 

[~~~^~~~]

One simple rule would stop most speculation:

“The buyer must take delivery.”​

OPEC’s concern is the same as other producers of commodities right now. They do not know what the true market price for their goods are. Speculation alone may be driving a 40% to 100% increase in crude oil products throughout the chain. Seems like a good problem to have, right, well no.

Yes, quarterly profits are huge, off the charts. The problem is forward planning. These multi billion dollar decades long projects require stable prices to evaluate and plan for the future. A deep water drilling platform can cost more than the current market value of DAL, NWA and United combined. The oil producers need to know if the product this platform produces will be worth $60, $90, or $100. And what, if anything, is a dollar worth?

The producers are stuck with a vexing problem. They all dear the bottom will drop out of oil prices. At the same time oil is traded in dollars which has lost nearly half of its value compared with most major currencies. When Bush took office the dollar traded at $1.07 Euros, today’s rate is $0.65. The Federal Reserve, trying to avert a recession, has signaled to the World that the US Government will continue pumping out cash at low interest rates to anyone willing to take some. The dollar will continue to collapse, wiping out those responsible folks like me who have saved for our future (in dollars).

Oil may have to run to the relative stability of the Euro.

In the mean time, the Princes wonder what to do with the Billions in dollars? Do you invest in additional drilling and refineries? What if this current unsustainable price collapses to a more reasonable level? Will you get stuck holding the bag? Some have decided building Vegas on the sea and launching huge international airlines is a safer bet than investing in crude capacity.

To restore some sanity to the oil business, we need to stop derivative trading. The easiest way to do this in mu opinion is to force those who buy contracts to actually take delivery of the product, or at a minimum be licensed to trade in the product.

We do this in other industries. Take used cars as an example. I have to register my car, insure my car, be licensed for its operation. In my State I can not sell a car for a profit without a Dealer’s license, nor may I sell more than three cars yearly even at a loss. I can not participate in Dealer Auctions, can not buy insurance salvage, or even purchase a car to re-sell its parts. Despite the beautiful tool EBay provides the car market, my State prevents my participation in a speculative fashion. I have to own the cars I buy, what a concept.

 

[sat74]

The secondary vultures are the medical and legal community. They are the domestic terrorists that line their own pockets and keep prices on medical and consumer goods sky high. The US taxpayer takes care of the poor and illegals that use our medical system, yet many in the middle class can't even afford health insurance. Many uninsured middle class people are going overseas for medical treatment rather than file for bankruptcy if they need major operations.

It's a disgrace that this charade is allowed to continue. Many countries in Europe have mutiple political parties, yet we are brainwashed into believing that (2) parties are all we need. I was watching a story about Norway I believe, and they have 7 parties. With a (2) party system, life will continue until the machinery finally breaks down. Is anarchy in our future? Mmmmm.

imp: ​

Everyone should watch the documentary "Sicko" about how f%%ked we are with medical care.

If this was happening in Europe there would be mass protests and strikes. Yet here in America, the average, and probably ignorant and complacent citizen is too afraid of the government to protest anything. We the people are supposed to run this governement, not the other way around. It's been out of hand too long and I honestly do not know how we the people will have regain control!

Until then, I will be looking for jobs overseas and severing my ties with this country. This has been the American nightmare, not the American dream!

 

[~~~^~~~]

One other point I failed to make....

Two bit dictators are bad for oil prices. Again, for emphasis, two bit dictators reduce oil prices. The crazier the better.

Why? Because they have to sell their oil to somebody. They can not afford to sit on it.

Hugo Chavez serves as an excellent example. He sells more oil at lower prices than anyone else. He has done a lousy job of managing Venezuela's economy and must bring in as much quick cash as he can to keep his corrupt government in power.

Saddam Hussein sold more oil, 3.5 million barrels a day, than the US/Iraqi partnerships can produce which has been nearly half that amount, 1.8 million barrells a day, which has been decreasing at around 4% a year.

The US needs to realize that a war is not required to maintain the flow of oil. Quite to the contrary, crazy dictators are the Crazy Eddie's of the oil biz. They help consumers by being unwilling to work with the other members of the Cartels, by running "fire sales" to prop up their governments and by subsidizing oil to other third world nations.

The OPEC members want to sell their oil. The crazies HAVE to sell their oil. There is a difference that benefits consumers.

Arguably, Bush removed Saddam to remove a competitor to his buddies in Arab nations and back in Texas who were heavily invested in the oil business.

 

[jetflyer]

If you really want to understand what drives the American economy, read "The Creature from Jekyll Island". It's the story about the Fed. Once you understand how it works, you'll understand how we monetize our economy and that we don't even need tax revenue at all. Sound crazy? Read the book. Absolutely nothing backs our currency - it's essentially a social contract.


http://en.wikipedia.org/wiki/G._Edward_Griffin

Poahi,

I couldn't agree more that people need so, so badly to learn about this.

There are wealthy international bankers and businessmen controlling America and people don't realize it.

Everything is controlled including the media.

Learning about the corrupt Private Federal Reserve is a great first step for people to understand and wake up that America is more controlled and manipulated than Hitler's Germany. Sounds crazy I know, because they've perfected their ability to manipulate and brainwash you as well as take your money from you.

Here is a video about the Federal Reserve that you have to see:
GOOGLE Video: FIAT EMPIRE- Inspired by G. Edward Griffin's "The Creature from Jekyll Island"

A MUST WATCH!!
People are WAKING UP. Be one of them!

 

[svcta]

I don't know how to quote multiple posts, so I'm just going to ask some questions, feel free to answer or ignore them:

1. Why do I need to insure your healthcare? <EDIT: Why should YOU have to pay to insure ME?> SICKO? Read this and then send me the video of you fondling Micheal Moore. More like LARDO.

http://beejiggity.blogspot.com/2007/06/what-michael-moore-left-on-cutting-room.html

2. What don't you understand about profit vs. profit margins? (re: record oil co. profits)

3. ANWR, anyone? 1.5 million acres of it was specifically set aside for oil recovery. And the Chinese are drilling within sight of Key West.....

taking oil that we could get for ourselves if it weren't for our overly restrictive environmental lawas. I like the environment as much as anyone, but we're only hurting ourselves with this stuff. And we're not saving the world from the rest of itself.

http://www.americanfreepress.net/html/china_starts_oil_drilling.html

And we're not running out of oil.....not that we shouldn't find other ways to make things go, but there's plenty left until other technology comes of age. Between shale oil, conversion from coal, and unconventional methods of drilling that will become, or have already become, viable at over $100/barrel. These will all drive the price down. It's not that we can't, we just need to be allowed to stand on our own.....by ourselves.

Shale:
http://ostseis.anl.gov/guide/oilshale/index.cfm


Coal:
http://news.nationalgeographic.com/news/2006/04/0418_060418_coal_energy.html

 

[lowecur]

Poahi,

I couldn't agree more that people need so, so badly to learn about this.

GOOGLE Video: FIAT EMPIRE- Inspired by G. Edward Griffin's "The Creature from Jekyll Island"

A MUST WATCH!!

All very interesting, but the real power belongs to the following who use the resources of the US taxpayer to promote the integration of Economic Globalization.

http://en.wikipedia.org/wiki/List_of_multinational_corporations

Many multinationals are not US domiciled, but that doesn't stop them from lobbying our politicians to promote their ideals. The Bretton Woods conference after WWII was the beginning, but it has evolved into an unchecked global powerhouse since then.

​

imp:​

 

[jetflyer]

All very interesting, but the real power belongs to the following who use the resources of the US taxpayer to promote the integration of Economic Globalization.

http://en.wikipedia.org/wiki/List_of_multinational_corporations

Many multinationals are not US domiciled, but that doesn't stop them from lobbying our politicians to promote their ideals. The Bretton Woods conference after WWII was the beginning, but it has evolved into an unchecked global powerhouse since then.

imp:​

We're talking about the same people really. These people really running the show have infiltrated all of the multinationals and control everything through them.

They're in control of the money running the central banks of the world. They have their members in high up controlling groups in all the major media outlets controlling what is talked about in the "news", etc.

Watch this about the Bildeberger Meetings.

This talks about how the head of the "important" multinationals as well as the leaders of the countries of the world meet in total media blackout secrecy every year to plan what will happen in the world.

A Must Watch:
ENDGAME- The Bilderberger Meetings

Atleast watch the beginning. You'll learn a lot. Don't disregard the other conspiracies all together, but until you can learn more about them just ignore them instead of letting them make you think the entire message is useless.

Ultimate goal? Like you eluded to lowecur... a one world government controlled by them...

Adios

 

[sat74]

I don't know how to quote multiple posts, so I'm just going to ask some questions, feel free to answer or ignore them:

1. Why do I need to insure your healthcare? SICKO? Read this and then send me the video of you fondling Micheal Moore. More like LARDO.

http://beejiggity.blogspot.com/2007/06/what-michael-moore-left-on-cutting-room.html

You insure my health care and I insure yours. Its a 2-way street. I could care less who made this film. I have no opinion on him, but take the information conveyed and use it, along with differing viewpoints to form my own opinion. I grew up in Europe in 3 different countries and did not experience any of the problems discussed by those against socialized medicine. Results will vary obviously, but how many people get screwed over in the USA and denied coverage? It goes both ways! My friends in Canada also have little to say against their system, yet my mother who has serious health problems cannot get affordable insurance coverage and keeps getting claims denied over and over! Really nice!