opec

[Jerome Scuggs]

http://blogs.moneycentral.msn.com/to...h-of-opec.aspx

http://gmj.gallup.com/content/109993...stortions.aspx

[Money]

good, fuck opec

As the Saudis left the building, the message was shockingly clear. “Saudi Arabia will meet the market’s demand,”

[Vehicle]

My head hurts, so I didn't read the second story but I agree: fuck OPEC.

When the top 6 oil producing countries are all in cahoots there is no competitive pricing. Without competitive pricing we end up with 4 dollars a gallon gas (sorry Europeans, I know you've been paying at the pump for a while now.) With the EU and the USA all pissed off at Russia, the pipelines to, and through, Eastern Europe will start to dry up and, if OPEC has it's way, gas prices will soar (again.) So any shakeup of the status quo, and any de-conglomerizing of big oil is fine by me.

[Doc Flabby]

They were correct to walk now. Its kinda pointless to operate a cartel once demand outstrips supply (as is the case with oil now). It will only harm your own profits....

The purpose of a cartel is to artificually create demand by restricting supply.

OPEC excisted because supply of oil was substancially greater than demand, this is no longer the case.

However if the demand is already greater than the supply, then cutting production will only have the negative effect of reducing long-term demand (alternatives become cheaper), making the price in the mid-long term fall futher.

Artificially high oil prices are in no ones interests.

--

A good example is the cocaine market. There is an oversupply of cocaine, however drugs cartels ensure that its supply is restricted thus keeping demand and prices high. If there was a shortage of cocaine there would be no need to restrict the supply.

[DankNuggets]

Fuck OPEC

Double Fuck (same hole) price gouging gas station owners around here. Do they really think we'll buy a $1.50 increase because of a week long delay from a category 2 hurricane??? I mean, it's not like they don't happen EVERY 2-3 FUCKING years. And yeah, gas didn't go the fuck up back then. I seriously hope my governor and attn gen. decide to prosecute these shiesty fucks. Seriously, it's up over a dollar in a day.

A good example is the cocaine market. There is an oversupply of cocaine, however drugs cartels ensure that its supply is restricted thus keeping demand and prices high. If there was a shortage of cocaine there would be no need to restrict the supply.

Governments insure that supply is restricted too. I'm pretty sure that dealers also keep their prices artificially high too, in order to keep making the most profit. It's not like you know 10 ppl dealing blow, you pretty much have 2-3 ppl to choose from, and you know they're colluding. When the GK bloods came to my city, they actually worked WITH rivel gangs to keep the price of crack artifically high, and in several instances, were buying from the same few people.

If there was a massive shortage of cocaine, then a helluva lot of ppl would stop doing it (nature of the drug + lack of availibity). not a luxary we can afford with gasoline.