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OPEC really doesn't have much control over the price of oil anymore. The producers are all making individual decisions to stockpile oil because they expect the price to increase. Greenspan said today that eventually the price would come down after they stop stockpiling so we will have to see.
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I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett Kavanaugh -
? the only reason they are stockpiling is to hedge - they believe prices will go even higher, expectations drive prices up quicker then usualy"Everything for the State, nothing against the State, nothing outside the State" - Benito MussoliniComment
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If they have spare capacity then by definition, they set the current price. Sheesh, ya morons.Comment
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Whoever Goldman is, he's going to look real stupid when prices fall back to around 30$... FFS, for 60$ current money it becomes feasible to take sand in Canada and refine it to oil. The only way how oil could end up permanently costing 105US$/barrel is inflation.
Only for a brief period in 1979-1980, and even then it was way overpriced mainly because media tried to hype "OMGWERERUNNINGOUTOFOILJUSTNOW" to make the prez's job harder... in US, media got a kick out of sabotaging the president's job any way they could after Nixon. Panic and stockpiling had a significant effect on demand.$90 in todays dollars would match the prices seen during the Arab Oil embargo during the 70s.Comment
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Dictatorship.Originally posted by Wezil
The west needs a cartel to match OPEC. What do we sell them that they need?Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing?
Then why call him God? - EpicurusComment
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Nobody you need to be concerned about.Whoever Goldman isLast edited by DanS; April 6, 2005, 11:20.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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If he actually said that, I'd like him better.Rethink Refuse Reduce Reuse
Do It OurselvesComment
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Originally posted by TCO
If they have spare capacity then by definition, they set the current price. Sheesh, ya morons.
Running at full capacity costs a lot.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Exactly. The point is that they make individual decisions to do so.Originally posted by Lawrence of Arabia
? the only reason they are stockpiling is to hedge - they believe prices will go even higher, expectations drive prices up quicker then usualyI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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The prediction is for a year of two out.Originally posted by VJ
Whoever Goldman is, he's going to look real stupid when prices fall back to around 30$... FFS, for 60$ current money it becomes feasible to take sand in Canada and refine it to oil. The only way how oil could end up permanently costing 105US$/barrel is inflation.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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But less than they would get from selling the extra oilOriginally posted by Kidicious
Running at full capacity costs a lot.
“It is no use trying to 'see through' first principles. If you see through everything, then everything is transparent. But a wholly transparent world is an invisible world. To 'see through' all things is the same as not to see.”
― C.S. Lewis, The Abolition of ManComment
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That's an assumption. TCO moronically defned pricing power incorrectly.Originally posted by pchang
But less than they would get from selling the extra oil
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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