Arabs To Cut Oil Production Again

Ray_Air · #1 (**permalink**) 02-26-2009, 07:10 PM

Angered that oil has fallen so much OPEC shows their true colors again and threatens "production restrictions" raising the price of oil by $4 barrel today alone.

I am done playing their games. I turn in my GMC Envoy tomorrow which got 15/20mpg and just bought a car that gets 26/36mpg. They can KMA. Besides, I don't want my money going to Iran or some Arabs overseas.

Oil prices rally on production cut talk - Feb. 26, 2009

tbharper · #2 (**permalink**) 02-26-2009, 07:17 PM

Will people still be blaming bush when it goes to 4 dollars gain?

Ray_Air · #3 (**permalink**) 02-26-2009, 07:18 PM

Quote:

Originally Posted by tbharper

Will people still be blaming bush when it goes to 4 dollars gain?

Let's see if it gets that high first. Good question.

tbharper · #4 (**permalink**) 02-26-2009, 07:20 PM

I myself didn't blame him when it did happen.

blinddog50 · #5 (**permalink**) 02-26-2009, 07:51 PM

Ray, Ray, Your money is going to go there regardless of what you drive.
You're just not going to give them as much.

mdulrich · #6 (**permalink**) 02-26-2009, 08:41 PM

Quote:

Originally Posted by tbharper

Will people still be blaming bush when it goes to 4 dollars gain?

I'm sure Obama will pump billions of dollars our way so we don't have to pay anywhere close to $4/gallon.

Mike

n1das · #7 (**permalink**) 02-26-2009, 09:02 PM

Quote:

Originally Posted by Ray_Air

Let's see if it gets that high first. Good question.

I'm not worried about it one bit.

At 45 MPGs while driving my car like I stole it and a tank range of more than 700 miles on 15 gallons of DIESEL in my 02 VW Golf TDI (yes, it's a diesel), I refuse to complain about fuel prices. No more gassers for me ever again if I can help it. All future vehicle purchases of mine shall be DIESEL vehicles. I love the Economy, Longevity, Performance, TORQUE, and Efficiency of a modern turbodiesel car. Lowest cost per mile of any car I've ever owned. I drive around 1k miles/week (read: I drive a lot!), so the blend of economy, longevity, performance, torque, and efficiency are all important to me. I like being able to have my cake and eat it too.

My 02 Golf "only" has 314k miles on it now and is still going strong. I plan to put at least another 200k miles on it before I think about getting rid of it. No more gassers for me (including gasser hype-brids) ever again if I can help it. I'm definitely into this car for the long haul.

50 MPG - Batteries not required!
Fred's TDI Page. TDIClub.com. VW TDI Enthusiast Community

Stick0413 · #8 (**permalink**) 02-26-2009, 09:46 PM

Quote:

Originally Posted by tbharper

Will people still be blaming bush when it goes to 4 dollars gain?

I can see people trying to do just that.

zz0468 · #9 (**permalink**) 02-26-2009, 09:57 PM

Quote:

Originally Posted by Ray_Air

Angered that oil has fallen so much OPEC shows their true colors again and threatens "production restrictions" raising the price of oil by $4 barrel today alone.

You would too, if the need for your product had plummeted. It's called "supply and demand". It's a key element in how the economy is supposed to work.

Are they actually "angered" by the price drop, or just reacting to it? I didn't see that word used in the article.

Ray_Air · #10 (**permalink**) 02-26-2009, 10:04 PM

Quote:

Originally Posted by zz0468

You would too, if the need for your product had plummeted. It's called "supply and demand". It's a key element in how the economy is supposed to work.

Are they actually "angered" by the price drop, or just reacting to it? I didn't see that word used in the article.

Supply and demand, lol

. Try pure manipulation, just like the stock market.

mikepdx · #11 (**permalink**) 02-26-2009, 10:15 PM

Quote:

Originally Posted by Ray_Air

Angered that oil has fallen so much OPEC shows their true colors again and threatens "production restrictions" raising the price of oil by $4 barrel today alone.

Remember Operation Iraqi Freedom?

Maybe it's time that Operation Energy Freedom
be launched upon the Saudis and their partners in crime.

PHOENIX_SCANNER · #12 (**permalink**) 02-26-2009, 10:47 PM

This is why whether prices go up or down, I am sticking to my 30-44 mpg corolla for most use, despite my truck driving friends laughing at me here and there.

Quote:

Originally Posted by mikepdx

Remember Operation Iraqi Freedom?

Maybe it's time that Operation Energy Freedom
be launched upon the Saudis and their partners in crime.

Yeah, it's funny. All the liberals were screaming about how we were only going to take the oil (both times), yet we did not take it, even though we could have solved many of our problems by just taking control of the whole middle-east while we were on a roll (ethics aside). The whole game would have been a lot different about now if we were the evil conquerors we were made out to be wouldn't it?

zz0468 · #13 (**permalink**) 02-27-2009, 01:10 AM

Quote:

Originally Posted by Ray_Air

Supply and demand, lol

. Try pure manipulation, just like the stock market.

Go ahead and laugh. That's what's going on. Manipulation? Call it what you will. They want to get as much for their product as people are willing to pay for it. Price it too high, and demand will drop. If supply is greater than demand, prices will drop. If the price for your product drops too low, you tighten the supply to bring prices back up. This is pure capitalism. There's one notable alternative to this... do you know what it is?

DPapay · #14 (**permalink**) 02-27-2009, 10:08 AM

Please do not say "more government regulation". I've had my fill.

Ray_Air · #15 (**permalink**) 02-27-2009, 03:25 PM

Quote:

Originally Posted by mikepdx

Remember Operation Iraqi Freedom?

Maybe it's time that Operation Energy Freedom
be launched upon the Saudis and their partners in crime.

Nice thought, but it ain't going to happen.
We are addicted to oil like a crackhead is addicted to crack.

Ray_Air · #16 (**permalink**) 02-27-2009, 03:26 PM

Quote:

Originally Posted by zz0468

Go ahead and laugh. That's what's going on. Manipulation? Call it what you will. They want to get as much for their product as people are willing to pay for it. Price it too high, and demand will drop. If supply is greater than demand, prices will drop. If the price for your product drops too low, you tighten the supply to bring prices back up. This is pure capitalism. There's one notable alternative to this... do you know what it is?

Then Hell if that's the case they should have made the crap $4/gallon back in the mid to late 90's during the boom years instead of 99 cents a gallon (what gas averaged then).

kb2vxa · #17 (**permalink**) 02-27-2009, 05:21 PM

Dilligaf

mrweather · #18 (**permalink**) 02-27-2009, 06:42 PM

OPEC talks the talk but rarely walks the walk. Their members may say "yes we'll cut" but will turn around and sell their goods like they were before.

These countries have only one means of supporting their economies: selling oil. If they need cash they sell whatever they can regardless what their cartel says.

DonS · #19 (**permalink**) 02-27-2009, 06:45 PM

Yeah, I hate it when some organization decides to limit production only so they can keep the price up. Damned Arabs with their oil... damned US government with land alloted to wheat.

DonS · #20 (**permalink**) 02-27-2009, 06:57 PM

Quote:

Originally Posted by Ray_Air

Angered that oil has fallen so much OPEC shows their true colors again and threatens "production restrictions" raising the price of oil by $4 barrel today alone.

Translation: Seeing an opportunity to make more money for a product for which the demand has decreased, oil producers decrease the supply of their product in order to increase price.

Hmmmm... sounds like good Capitalism. Now all they need to do is form republics based on democratic principles.