OPEC losing control of oil prices

[HBox]

And you'd think that'd be a good thing, but it isn't. (http://www.msnbc.msn.com/id/7190109/)

Despite a pledge by OPEC ministers to increase oil production, don't expect much of a break on oil prices. With crude oil prices hitting a record $56 a barrel Wednesday, OPEC ministers meeting in Iran have been grappling with a problem they haven't confronted in the cartel's 45-year history. In the past, OPEC tried to cool overheated prices by pumping more when supplies got too tight. But most OPEC producers say they're already pumping as fast as they can. And despite the high cost of a barrel of crude, world demand shows no signs of slowing.

To help stop the surge in prices, OPEC ministers agreed to pump an extra half million barrels of oil a day beginning April 1. OPEC said it would consider pumping more later if the extra oil doesn't push prices lower.

But even before the decision was announced, some ministers had openly expressed doubts that the move will do any good, saying they've run out of options in trying to rein in the price of crude. Global oil demand has taken up most of the slack in extra OPEC capacity. Consumption is now believed by many analysts to be pressing up against the limits of what the world can produce. Saudi Arabia is the only country believed to have any surplus production left, and even then the Saudis are pumping close to 90 percent of capacity, according to the U.S. Department of Energy.

Get used to high gas prices.

Let Us Trim Our Hair In Accordance with Socialist Lifestyle!

[JPMNICK]

There is no way Iraq is pumping to capicity is there? I wonder how much of a difference that would make.

If not for Iraq, watch out Alaska!

honestly, the prices are high, but they are not THAT bad. yes it sucks, but in Europe they have always had prices this high and they make it. Its the American Attitude that it shoudl be cheap, along with our desire to have 8 liter cars to drive around town that have really hurt people.

If you want an SUV, be prepared to pay for it. If you do not like it, get a civic.



http://home.comcast.net/~nickcontardo/rfnetjp.jpg
Thanks to Reef for my sig. You rock

[alexc]

right now there is so mluch demand for oil. China and India demands of oil is making price of oil increase. Also, there aren't enough tankers to transport the oil also.

[TheMojoPin]

There is no way Iraq is pumping to capicity is there?

Let me put it this way...

KUWAIT is still not producing oil to the capacity they were at before the FIRST Gulf War.

<img src="http://scripts.cgispy.com/image.cgi?u=TheMojoPin">
1979 << On the streets of your town... >> "You can tell some lies about the good times we've had, but I've kissed your mother twice...and now I'm working on your dad..."

[GodsFavoriteMan]

And who's controlling the production of Kuwaiti oil?

<img src="http://home.comcast.net/~stan_ferguson/GFMSIGPIC_copy.jpg">
"Story goes these great big rats come scuttling off the slave ships and raped all the little tree monkies."

[WRESTLINGFAN]

The Senate approved drilling in Alaska but if you think prices at the pump will go down, its wishful thinking

I dont care, I just don't care, I really dont care. F U Howard Stern!!!!!

[TheMojoPin]

And who's controlling the production of Kuwaiti oil?

<img src="http://home.comcast.net/~stan_ferguson/GFMSIGPIC_copy.jpg">
"Story goes these great big rats come scuttling off the slave ships and raped all the little tree monkies."

The Kuwaiti government.

It's not an issue of them holding back...they're still recovering from the damage.

<img src="http://scripts.cgispy.com/image.cgi?u=TheMojoPin">
1979 << On the streets of your town... >> "You can tell some lies about the good times we've had, but I've kissed your mother twice...and now I'm working on your dad..."

[FUNKMAN]

i'm gonna start doing my part to cut down on oil dependency

i'm switching from vaseline to olive oil


and not one fucking gay joke! i'm telling ya
:)

<img src="http://img.photobucket.com/albums/v91/SatCam/sig_funkmanstill.jpg">

[HBox]

i'm switching from vaseline to olive oil

So you're switching from this:

http://www.punchstock.com/image/rubberball/1800196/large/bg_56.jpg

to this:

http://www.wiolawapress.com/ghost/ghost_Olivecolcopy.gif

Let Us Trim Our Hair In Accordance with Socialist Lifestyle!

[MrPink]

i wish we went to war with iraq fer oil...

http://img.photobucket.com/albums/v507/Catholiccannon/pink.jpg
Would you fuck me? I'd fuck me

[FUNKMAN]

madone! - what's with Olive Oil's boobies?

very hot!

http://www.wiolawapress.com/ghost/ghost_Olivecolcopy.gif

<img src="http://img.photobucket.com/albums/v91/SatCam/sig_funkmanstill.jpg">

[FUNKMAN]

i'm switching from vaseline to olive oil


when i start making it with Peppermint Patti i'm gonna switch to Peanut Oil


drats!

<img src="http://img.photobucket.com/albums/v91/SatCam/sig_funkmanstill.jpg">

[Furtherman]

With crude oil prices hitting a record $56 a barrel Wednesday, OPEC ministers meeting in Iran have been grappling with a problem they haven't confronted in the cartel's 45-year history


Somewhere... in a cave.... Osama Bin Laden whispers "Mission accomplished".

<img src="http://img.photobucket.com/albums/1003/Furtherman/furtherblur.jpg" alt="Image hosted by Photobucket.com">

[Bulldogcakes]

Good! Inflations still under control, and the higher oil goes, the more sense alternatives (Hydrogen, Solar, Ethanol, Electric) start to make. If prices stay up, we'll begin shifting to these others and FINALLY lower our dependance on foreign (re Middle East) oil. And then maybe we can afford to be less involved in that entire region altogether.

The only reason we dont use the many alternative technologies out there is cost. Thanks to China, That's beginning to change.

All without one act of Congress.

http://pic5.picturetrail.com/VOL77/857148/1548180/76422236.jpg


If you're wondering, Yes.

[WRESTLINGFAN]

Wait until the Spring/Summer driving season $2.75 a gallon in the NYC Metro area

O and A... PARTY ROCK!!!!!