The death of OPEC

by Josh Anderson 10 replies
This is money news that effects us all:

The death of OPEC - Top Stocks Blog - MSN Money

Yesterday the Saudis walked out on OPEC and refused to decrease output.

How this will play out and what effect it will have on the Global market is yet to be revealed but its definitely interesting and possibly good news.
#main internet marketing discussion forum #death #opec
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  • Profile picture of the author Chris Lockwood
    Wow, weird that I have to read about this here, rather than it being all over the news.

    Wonder what % of OPEC's output is from the Saudis. Anyone know?
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  • Profile picture of the author Jay Jennings
    Wow, I wonder what kind of back-room deal was struck? Maybe I'm just cynical about that kind of thing, but I wouldn't be surprised to find out promises were made from the USA in exchange for SA's actions.

    Will certainly be interesting to see how this plays out over the coming months and years.

    Jay Jennings
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    • Profile picture of the author JohnMcCabe
      Originally Posted by Jay Jennings View Post

      Wow, I wonder what kind of back-room deal was struck? Maybe I'm just cynical about that kind of thing, but I wouldn't be surprised to find out promises were made from the USA in exchange for SA's actions.

      Will certainly be interesting to see how this plays out over the coming months and years.

      Jay Jennings
      I'm not sure any back room shenanigans were necessary. The Saudis aren't stupid. Nor are they as myopic as the two most strident anti-American members who pushed for cutbacks.

      All they had to do was watch CNN.

      US President lifts order banning offshore oil drilling...

      Dealers have waiting lists for hybrid vehicles...

      One presidential candidate wants to offer a 9-figure reward for someone who can develop a practical automotive energy source that makes gasoline unnecessary...

      Solutions that make no sense when gas is $2 a gallon start looking attractive at $4.

      IThe Saudis realize that an addict needs an occasional fix, or they'll look to a different drug. They want to stay on as the pusher of our drug of choice - oil.

      Much as I'd love to see cheap gas again, I really hope the US moves ahead on ways to wean ourselves from foreign oil. Unfortunately, I don't think it will happen.
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      • Profile picture of the author seasoned
        Originally Posted by JohnMcCabe View Post

        I'm not sure any back room shenanigans were necessary. The Saudis aren't stupid. Nor are they as myopic as the two most strident anti-American members who pushed for cutbacks.

        All they had to do was watch CNN.

        US President lifts order banning offshore oil drilling...

        Dealers have waiting lists for hybrid vehicles...

        One presidential candidate wants to offer a 9-figure reward for someone who can develop a practical automotive energy source that makes gasoline unnecessary...

        Solutions that make no sense when gas is $2 a gallon start looking attractive at $4.

        IThe Saudis realize that an addict needs an occasional fix, or they'll look to a different drug. They want to stay on as the pusher of our drug of choice - oil.

        Much as I'd love to see cheap gas again, I really hope the US moves ahead on ways to wean ourselves from foreign oil. Unfortunately, I don't think it will happen.
        SOME US vehicles now run on OTHER fuels. MOST golfcarts, some shuttles, some busses, some company vehicles.

        Electric power has started to FINALLY take off. In less than a decade, we could have high performance long distance hybrids that cost what the average economy car costs today, adjusting for inflation. The US COULD provide incentives to purchase them. If we could do that, we could become an EXPORTING nation again! We could cut the lines on american soil, cut subsidies, forbid various actions, and OPEC could REALLY suffer!!!!!!!

        That would be nice, because we could ALSO basically wipe out perhaps over 50% of UBL's business!!!!!!!

        None of that would be hard to do. It COULD be done *****TODAY******! Want PROOF? Look at sales reports, what car companies are getting into and selling, and even company vehicles in the streets. On a small scale, it is being done TODAY! And some of it was done when gas was BELOW $2! And for those saying power requires fuel? WRONG! Did you know almost all of Icelands power is hydro or geothermal!?

        Geothermal power in Iceland - Wikipedia, the free encyclopedia

        The US is one of the leaders in nuclear plant manufacturing, and has a number of hydro plants as well. There is no requirement for any oil imports.

        Heck, I have been arguing for alternative power since the early 70s!

        BTW WHICH presidential candidate wants to offer a reward in the billions?

        Steve
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        • Profile picture of the author JohnMcCabe
          Originally Posted by seasoned View Post

          SOME US vehicles now run on OTHER fuels. MOST golfcarts, some shuttles, some busses, some company vehicles.

          Electric power has started to FINALLY take off. In less than a decade, we could have high performance long distance hybrids that cost what the average economy car costs today, adjusting for inflation. The US COULD provide incentives to purchase them. If we could do that, we could become an EXPORTING nation again! We could cut the lines on american soil, cut subsidies, forbid various actions, and OPEC could REALLY suffer!!!!!!!

          That would be nice, because we could ALSO basically wipe out perhaps over 50% of UBL's business!!!!!!!

          None of that would be hard to do. It COULD be done *****TODAY******! Want PROOF? Look at sales reports, what car companies are getting into and selling, and even company vehicles in the streets. On a small scale, it is being done TODAY! And some of it was done when gas was BELOW $2! And for those saying power requires fuel? WRONG! Did you know almost all of Icelands power is hydro or geothermal!?

          Geothermal power in Iceland - Wikipedia, the free encyclopedia

          The US is one of the leaders in nuclear plant manufacturing, and has a number of hydro plants as well. There is no requirement for any oil imports.

          Heck, I have been arguing for alternative power since the early 70s!

          BTW WHICH presidential candidate wants to offer a reward in the billions?

          Steve
          John McCain proposed a $300M reward for a practical alternative car engine, which I believe is 9 figures. $300,000,000 - yup. Never said anything with the 'B' word.

          Truth is, I agree. I think the time for serious use of alternative fuels and energy sources is coming soon.

          Last year, on a trip to Hawaii, we took a sightseeing cruise. One of the sights pointed out were some gorgeous green cliffs. Arrayed along the top of the cliffs were a series of wind turbines. According to our guide, some of the locals were furious that the scenery was 'ruined' by the turbines. I didn't even see how many there were until they were pointed out. I forget the exact percentage he said, but those turbines supplied a large share of that island's electricity. Zero pollution, zero petroleum cost.

          The key is commercial viability - if there's a profit in it, it will get done.

          Otherwise, I fear events will progress like they did after the OPEC embargo of the 70s. Fear led to more efficient engines, which when the crisis eased were upscaled to the rumbling herd of SUVs you see today.
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  • Profile picture of the author Chuck Evans
    The 65-mpg car Ford won't sell in US

    We have this already and Ford won't sell it in the US but will sell it elsewhere!
    Read the entire article

    chuck
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    Chuck Evans - Golf Magazine Top 100 Teacher
    Learn How To Play Your Best Golf

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  • Profile picture of the author jasonl70
    mini's got a new turbo diesel hitting 74mpg.. and I believe thay are going to bring here to the US.
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    -Jason

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