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Opec and IEA agree speculation bad

Dawn.com -- RIYADH: For a change, Opec and the IEA seem to concur on some of the major issues afflicting the energy world today. This is indeed a breath of fresh air, for the two are distinctly different in many senses. Their briefs are different. They represent two worlds, two interest groups and two schools of thought.

Opec has emphasized for quite some time that fundamentals – demand and supply – were no longer in full control of the oil markets, and that the world needed to act to curb speculation.

Markets need transparency, producers have been insisting for some time now. The point now seems to be getting across. The energy world today increasingly appreciates that wide scale speculation in oil markets poses tremendous risks.

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Submitted Jul 04, 2009 By: BurntOrange

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NorthglennBill Champion Author Denver Posts:1,799 Points:342,030 Joined:Oct 2008	Message Posted: Jul 4, 2009 10:39:30 AM Ignore NorthglennBill Report Abuse For once, OPEC agrees with my thinking.
hauler43 Champion Author Oakland Posts:3,544 Points:1,575,690 Joined:Sep 2003	Message Posted: Jul 4, 2009 10:39:10 AM Ignore hauler43 Report Abuse OK, so now we must pick our poison, OPEC or speculators.
Valricoslash All-Star Author Tampa Posts:680 Points:170,205 Joined:Nov 2008	Message Posted: Jul 4, 2009 10:38:12 AM Ignore Valricoslash Report Abuse Its amazing how much money you can make transferring paper on a computer.
BartBuzz Champion Author Atlanta Posts:2,400 Points:523,060 Joined:Aug 2006	Message Posted: Jul 4, 2009 10:38:01 AM Ignore BartBuzz Report Abuse Why am I skeptical about this admission? I don't trust OPEC or IEA. Keep conserving.
KerryDeland Champion Author Florida Posts:2,326 Points:454,880 Joined:Jun 2008	Message Posted: Jul 4, 2009 10:35:17 AM Ignore KerryDeland Report Abuse What we need is for every little "burp" in the oil market to NOT be over analyzed, speculated on, and price adjustments made instantaneously.
RichardoB Champion Author North Carolina Posts:1,434 Points:785,110 Joined:Jun 2007	Message Posted: Jul 4, 2009 10:33:30 AM Ignore RichardoB Report Abuse Speculators are getting a bad name with nearly everyone. Won't stop them though.
twiper1 Champion Author San Diego Posts:1,482 Points:343,195 Joined:Oct 2008	Message Posted: Jul 4, 2009 10:30:55 AM Ignore twiper1 Report Abuse I know where this is going
Buck_on_Bass Champion Author Tennessee Posts:1,462 Points:353,195 Joined:Jul 2007	Message Posted: Jul 4, 2009 9:45:15 AM Ignore Buck_on_Bass Report Abuse OPEC sees oil prices are out of their control. This is a situation they do not like. OPEC does not like other to be able to control the price of oil. It will be interesting to see how this is resolved.
BurntOrange Champion Author Austin Posts:1,157 Points:354,665 Joined:Nov 2007	Message Posted: Jul 4, 2009 9:17:02 AM Ignore BurntOrange Report Abuse Try this link