yus

This was in the NY Times the other day - if oil stays down, some OPEC countries will feel their shorts tightening up.

http://www.nytimes.com/2008/10/21/wo...e&st=cse&scp=2

Our entire problem is because of oil prices. They continually made record profits for no reason. Taking billions out of the economy everywhere, except the oil company. And now that they are going back to the normal before Katrina. Ohhhhh we are not ripping people off enough.

Trust me they are making a profit. The goverments should stand together as a whole and say no.

People seemed to be doing fine paying rent until their rent money started going into the gas tank. Gas rasing from $1.28 to $4.00 a gallon in a brief period. And paycheck raises are being halted due to the economy.
Layoffs everywhere. Oil trickles into everything. You have to transport things.
They are too GREEDY!

I forgot how much money goes back into the economy for every $1.00 gas drops. And who gives a crap about the oil contry's. They have made enough, this recession should hit them too. They are a big part of it.

You know, if you think about it that way, it does make sense.

and their in lies the original problem

I filled up last night for $2.39/gallon, which was less than the $2.45/gallon it was when I went into work. Nothing seems to be affected since prices are the same today.

I don't get it. What are they doing now that they didn't do 5 years ago that demands such high pricing? I understand the situation now versus the early and mid 90's, but even 4-7 years ago, prices weren't this high and OPEC was IIRC doing just fine. I'll have to read back and see what was happening and if they actually needed the money. I'm not assuming some sort of stand on the subject. Just posing a question.

Yeah, I did 2.16 (regular) last night and it just came down to that a day ago. Prices around here have been below 2.30 for a week or so now. My last tank was 2.55, but it was ethanol-free gas and the station was higher than any other I had seen. Average in Tulsa at that point was 2.30-ish.

I think it's a combination of just shameless greed and of bad-news internal politics. Iran, the Arab states and Venezuela have been keeping the peace internally by basically buying off their population with oil money, while laying off all the evil in the world on the "Great Satan." Their leaders were pretty confident that $120/bbl was here to stay, so they ramped up the spending - kind of like a guy who gets a big raise and springs for a $500K mortgage figuring he's got it made; then the economy goes to shit and he loses the fat job. Can't pay that big mortgage on $50k/yr.

I've read that the Saudi's need $55/barrel at current production levels to break even - Iran and Venezuela are more like $75 to cover their budgets.

What we ought to do is get together with Canada, Brazil, and Argentina and form an organization for grain exporters to deal with OPEC. Tough farming in the desert.

I know nothing about politics or economics, but :bowdown:

Farmers fight back!

I like it.

What in the bloody hell does that say?!

I means I already said that about the farmers.

Everyone seems to have not seen my post on the first page, or are just ignoring it. :)

Things are tough all over, I was in Kuwait yesterday, and gas is $.87 a gallon , and there population is up in arms over the price.

So gas prices finally drop to a point where people can afford it and have money to boost the economy, and what the fuck do those fuckers do. They try and spike the prices again so we all are hurting for money again.

And if we had the oil, we wouldn't do the same thing?

I'm sure we'd want to, but what about regulating bodies? Someone would halt us in our steps, no?.