Gas prices and Opec

[reno]

A few people that has came through my gate this morning has said that Opec released information that the Bush Administration is the reason for the gas prices,and that the prices should be no where near what it is now. I am trying to find the article now. There was a lot more stated, but I can not recall all of it.
Might see some heads turning now, and hopefully the prices.

 

[reno]

All I could find so far is where Opec says the price per Barrell is $57.68, and the demand is falling so to compensate the difference and not take a 4% loss by reducing the price, they are cutting back on refining.

 

[MAKG]

I see no reason to believe that. Do you have any specific documentation? If it comes from a conspiracy theorist, don't bother....such nutcases are a dime a dozen on the Net, and they'll tell you among other things that Elvis is still alive, Kennedy was done in by Johnson, and the moon landings were faked.

 

[Sevensecondsuv]

All I could find so far is where Opec says the price per Barrell is $57.68, and the demand is falling so to compensate the difference and not take a 4% loss by reducing the price, they are cutting back on refining.

OK. Currently the price per barrel on the NYSE is $110 or something. Secondly, OPEC stands for Organization of Petroleum Exporting Countries (I think). As such, they are responsible for exporting petroleum, not refining it into gasoline (which is mostly done stateside by oil companies). Bush conspiracy theories have been around since before he was president, this is nothing new. Don't get your hopes up about gas getting cheaper once Bush is out of office, you'll be sadly disapointed. Current high oil prices are due to investors snapping up oil as a hedge against the dollar's falling value.

 

[reno]

OK. Currently the price per barrel on the NYSE is $110 or something. Secondly, OPEC stands for Organization of Petroleum Exporting Countries (I think). As such, they are responsible for exporting petroleum, not refining it into gasoline (which is mostly done stateside by oil companies). Bush conspiracy theories have been around since before he was president, this is nothing new. Don't get your hopes up about gas getting cheaper once Bush is out of office, you'll be sadly disapointed. Current high oil prices are due to investors snapping up oil as a hedge against the dollar's falling value.

Here is the article from a local Newspaper that I found the price of oil per barrel, and it was a regular that comes through my gate that told me about Opec going public.

http://www.sptimes.com/2006/10/21/Business/OPEC_speaks__but_mark.shtml

 

[97RangerXLT]

Here is the article from a local Newspaper that I found the price of oil per barrel, and it was a regular that comes through my gate that told me about Opec going public.

http://www.sptimes.com/2006/10/21/Business/OPEC_speaks__but_mark.shtml

your article is from 0ctober of 2006...

Gotta agree with MakG and Sevensecondsuv.

AJ

 

[du510]

Add this site to your favorites:

http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp

 

[skippy]

I see no reason to believe that. Do you have any specific documentation? If it comes from a conspiracy theorist, don't bother....such nutcases are a dime a dozen on the Net, and they'll tell you among other things that Elvis is still alive, Kennedy was done in by Johnson, and the moon landings were faked.

wait a minute,so elvis really is gone?johnson didn't off jfk?and those moon thingys were real?dang,i've got alot to put into perspective.thanks alot man!

 

[v-8power]

We landed on the moon. Only if the moon is in MEXICO. lol

 

[LearjetMinako]

Screw Bush theories, who cares OPEC. As I hate to say it, but we all get screwed, no matter who it is and what it is. There was once a time when gas cheap and companies were truthful. As it sits, everyone just wants to line thier pockets with gold. $3.00/gal is here to stay and its just going to get worse. So start planning and save a little extra when you can. Recession is looking at us down the road.