Originally Posted by greenacres
Article about OPEC
and their resemblance to a cartel.
I HIGHLY ADVISE READING THIS. (It's only 2 pages)
Sidenote rant against news agencies: If I hear one more thing about Elliot-I luv me some whoooores-Spitzer, I'm going to implode.
Lets look at your news article :
"For much of its 47-year existence, the Organization of the Petroleum Exporting Countries (OPEC) has been a cartel in name only. It could not, in practice, control oil prices because many of its members regularly breached the production quotas that were intended to regulate the market. So OPEC generally followed oil prices up and down, as supply and demand conditions shifted. But now OPEC may be the real deal: a cartel that works. If so, that's bad news for us."
OK, OPEC- Oil Producing/Exporting countries.. Where do our laws cover these? Where can we regulate an entity OUTSIDE of our boarders?
You can call them a ' cartel ' or a bunch of ' nappy haired hoes ', it makes no difference, your still a slave to their grind with not a say in THEIR pricing. ' Government! we need more of it! ', that what their supposed ' regulatings ' were, and were looking at 4$/gallon?
Looks like a failure to me, your rants and shedding wallet proves it.
More Government means 5$/gallon comes quicker.
Lets go more into your article..
"Look no further than last week's OPEC meeting in Vienna. Oil ministers declined to increase production despite a fairly obvious case for doing so. Not only were oil prices fluttering just above $100 a barrel, but the United States is either in or near a reces sion and much of the rest of the world faces a noticeable econom ic slowdown. The OPEC ministers were unmoved. Indeed, they indicated that they might actually reduce production if weak de mand—presumably reflecting weak economies—threatens to de press prices. Not good."
So.., we can make all these demands ' we need more! ' and what will they do? They will yawn and go back to sleeping or playing texas hold'em or whatever they feel like doing.
We sold out our securities when we let all the import products come here and wouldn't let our own industry compete on a level playing field. We won't allow our own to drill off the gulf coast or ANWR, the Greens have locked up our supplies quite nicely.
Need I plagerize Mr. Griggs on this? ' Buy American, your future depends on it '. Looks like all of your futures depends on how much ****-kissing it takes to get another nation to ramp up their production when we COULD have done it for ourselves.
"The American approach is to rant at foreign producers on the silly presumption that they should subordinate their interests to ours. The resulting self-righteousness rationalizes a refusal to do much that would actually influence their behavior and limit their freedom of action. It was only last year that Congress raised fuel-efficiency standards for new cars and light trucks: the dampening effects on oil consumption will be years in coming. We have steadfastly re jected higher gasoline taxes to curb unnecessary driving and strengthen demand for fuel-efficient vehicles (better to tax ourselves than let foreigners tax us through higher prices). And we have consistently restricted oil drilling in Alaska and elsewhere."
Hmm.. sound familiar anyone?