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Author	Topic: What Does the Future Hold for OPEC?	Post a Reply Back to Topics

brbaritone Champion Author Virginia Posts:2,071 Points:1,699,870 Joined:Jan 2007	Message Posted: Jul 10, 2012 6:27:08 AM Ignore brbaritone Report Abuse We’re coming up on 40 years of OPEC trying to set the price of oil as high as they can manage. The oil market is finally at a turning point, non-OPEC production is up, demand is down, and international economics may have finally found a bright spot in ‘globalization’. This week the EU embargo on Iranian oil came into full force. This is an unprecedented historical event that shows the importance of changes that have affected global energy markets in recent years. It’s not been an easy or quick effort. We waited for technology and struggled and paid dearly for regulation and taxation, yet somehow the free world’s oil industry is prevailing. The politics have changed on OPEC’s side as well. They too have found and stepped into the trap of government benefits. The OPEC leaderships ... Visit oilprice.com for full article

brbaritone

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Virginia

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Message Posted: Jul 10, 2012 6:27:08 AM

Ignore brbaritone Report Abuse

We’re coming up on 40 years of OPEC trying to set the price of oil as high as they can manage. The oil market is finally at a turning point, non-OPEC production is up, demand is down, and international economics may have finally found a bright spot in ‘globalization’.

This week the EU embargo on Iranian oil came into full force. This is an unprecedented historical event that shows the importance of changes that have affected global energy markets in recent years.

It’s not been an easy or quick effort. We waited for technology and struggled and paid dearly for regulation and taxation, yet somehow the free world’s oil industry is prevailing.

The politics have changed on OPEC’s side as well. They too have found and stepped into the trap of government benefits. The OPEC leaderships ...
Visit oilprice.com for full article

REPLIES (newest first)Ignore Short Messages

gazprize Veteran Author Toronto Posts:483 Points:125,120 Joined:Jan 2012	Message Posted: Jul 11, 2012 8:07:28 AM Ignore gazprize Report Abuse lower oil prices (hopefully)
TruthMatters Champion Author New Jersey Posts:2,525 Points:536,460 Joined:Oct 2011	Message Posted: Jul 11, 2012 8:06:28 AM Ignore TruthMatters Report Abuse Hopefully not much!
JCI46009IN Champion Author Indiana Posts:2,129 Points:439,570 Joined:Sep 2011	Message Posted: Jul 11, 2012 6:30:03 AM Ignore JCI46009IN Report Abuse I wish they would disband!
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Jul 10, 2012 12:14:51 PM Ignore gandalfthegrey1 Report Abuse leraar2 - interesting concept, however, IF they let us in they'd also have to allow others - Russia, Canada, Mexico, Brazil et al. Then it would become totally chaotic. In any case, it wouldn't eliminate what we have now. Strikes me as more an opportunity to fix oil prices than they have now. Of course we don't have to worry about it since their whole point is to 'brother up' in the region and screw the infidel.
md11capt Champion Author Denver Posts:3,558 Points:712,230 Joined:Mar 2011	Message Posted: Jul 10, 2012 11:34:54 AM Ignore md11capt Report Abuse $$$$$$$$$$$$$$
leraar2 Champion Author Massachusetts Posts:3,779 Points:790,605 Joined:Mar 2011	Message Posted: Jul 10, 2012 10:22:17 AM Ignore leraar2 Report Abuse if the US would apply for membership, we would get a voice in the decision making.
doctorindyj Champion Author Santa Fe Posts:3,463 Points:842,510 Joined:Nov 2009	Message Posted: Jul 10, 2012 10:06:10 AM Ignore doctorindyj Report Abuse As soon as they've milked the recent price drops for all the PR they're worth, production will be cut and prices will be rising again.
daylily2009 Champion Author Fayetteville Posts:1,400 Points:640,135 Joined:Oct 2009	Message Posted: Jul 10, 2012 9:53:37 AM Ignore daylily2009 Report Abuse Lower prices
Gas_Eyes Champion Author Dallas Posts:2,692 Points:647,785 Joined:Mar 2011	Message Posted: Jul 10, 2012 9:49:23 AM Ignore Gas_Eyes Report Abuse OPEC does not have the clout it had when it was formed in the 70's.
AlienBug All-Star Author Connecticut Posts:732 Points:218,035 Joined:Jul 2011	Message Posted: Jul 10, 2012 8:29:49 AM Ignore AlienBug Report Abuse Hopefully OPEC will be an Israeli vassal state.
Skunk63 Champion Author Phoenix Posts:2,567 Points:561,220 Joined:Oct 2011	Message Posted: Jul 10, 2012 8:22:01 AM Ignore Skunk63 Report Abuse It's only taken 40 years for an effective solution to this cartel. I'll be delighted when it's broken up and the scales are no longer in their favor.
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Jul 10, 2012 8:11:55 AM Ignore gandalfthegrey1 Report Abuse Do we need to care if they don't have a future? As much as any speculator, this cartel has contributed mightily to the higher price of oil.
sabre75 Champion Author Florida Posts:1,663 Points:340,395 Joined:May 2012	Message Posted: Jul 10, 2012 8:00:33 AM Ignore sabre75 Report Abuse OPEC needs to go away.
csblesson Champion Author Texas Posts:1,826 Points:355,825 Joined:May 2012	Message Posted: Jul 10, 2012 7:54:54 AM Ignore csblesson Report Abuse Ok
humblepie Champion Author Toledo Posts:34,321 Points:2,374,295 Joined:Mar 2006	Message Posted: Jul 10, 2012 7:26:40 AM Ignore humblepie Report Abuse legends in their own minds
GingoutMD Champion Author Maryland Posts:3,495 Points:713,305 Joined:Jan 2010	Message Posted: Jul 10, 2012 7:11:14 AM Ignore GingoutMD Report Abuse I sincerely hope that OPEC is working themselves out of work.
FPLREP Champion Author Virginia Posts:8,276 Points:2,451,175 Joined:Oct 2005	Message Posted: Jul 10, 2012 7:06:08 AM Ignore FPLREP Report Abuse Greed never seems to be a disappearing emotion.
farmboyTN Champion Author Tennessee Posts:2,277 Points:451,485 Joined:Feb 2012	Message Posted: Jul 10, 2012 7:05:05 AM Ignore farmboyTN Report Abuse ok
MImusicman Champion Author Michigan Posts:1,888 Points:410,600 Joined:Mar 2012	Message Posted: Jul 10, 2012 6:59:55 AM Ignore MImusicman Report Abuse drop kick them.
molebaby96 Champion Author Tallahassee Posts:2,126 Points:507,640 Joined:Nov 2011	Message Posted: Jul 10, 2012 6:46:57 AM Ignore molebaby96 Report Abuse More money.
doeslayersr Champion Author Illinois Posts:9,133 Points:874,930 Joined:Dec 2010	Message Posted: Jul 10, 2012 6:45:25 AM Ignore doeslayersr Report Abuse The independent oil companies here in the USA and the larger American owned companies are vital to this great Republic.
Evilmaddog Champion Author British Columbia Posts:3,337 Points:960,475 Joined:Aug 2010	Message Posted: Jul 10, 2012 6:43:50 AM Ignore Evilmaddog Report Abuse $$$$$$$$$
LilRedWagonIN Champion Author Indiana Posts:7,791 Points:1,558,060 Joined:Oct 2008	Message Posted: Jul 10, 2012 6:41:44 AM Ignore LilRedWagonIN Report Abuse The same question has been asked for at least 30 years.
fjkcpa Champion Author Houston Posts:4,537 Points:605,135 Joined:Nov 2005	Message Posted: Jul 10, 2012 6:38:34 AM Ignore fjkcpa Report Abuse Hmmm???...
qwerty17 Champion Author New Jersey Posts:3,660 Points:1,120,375 Joined:Oct 2009	Message Posted: Jul 10, 2012 6:35:00 AM Ignore qwerty17 Report Abuse extinction?
bluestang96 Veteran Author Ohio Posts:268 Points:107,865 Joined:Mar 2012	Message Posted: Jul 10, 2012 6:32:25 AM Ignore bluestang96 Report Abuse Could these articles be any more slanted?
WalRus49 Champion Author Boston Posts:4,090 Points:871,790 Joined:Nov 2010	Message Posted: Jul 10, 2012 6:29:21 AM Ignore WalRus49 Report Abuse More organized mayhem and pillage...............
brbaritone Champion Author Virginia Posts:2,071 Points:1,699,870 Joined:Jan 2007	Message Posted: Jul 10, 2012 6:28:17 AM Ignore brbaritone Report Abuse Another snippet: know quite well what the consequences will be if the money runs short and the citizens at the trough have to look up for a “where’s mine?” moment. We welcome OPEC nations to the modern world of government servitude. At least the oil wealth is already in their control, no need to pick the pockets of the productive classes, yet. Strangely, dictatorships based on oil wealth are facing much the same prospect that is occurring in Greece, the first western country to face the “where’s mine?” moment. The difference is the folks in Greece were non-lethal. As seen across the Arab world over the past many months losing control is, well, lethal. That’s not to say things in Greece, Spain, Italy and Ireland can’t become lethal, it will just take more stress on the citizens is all. The oil consumers have a pretty short list of who to look to for a ‘Thanks!”. Much of the thanks needs to go – to themselves. Conservation, scaling back, economic recession and efficiency has made a big difference in oil consumption. Reducing demand hasn’t been easy, wealth was lost in homes in a major way, so many people have lost jobs – some have gotten back to work at reduced income, and many have just been defeated by an economy watching fearfully for government programs and regulations instead of going after opportunities. For those with an income, we owe the suffering some thanks – this isn’t easy for everyone.