Its their oil. They can charge what they want for it. And I'm aware that low prices for oil make it harder for oil producing nations and energy companies to explore new fields or otherwise invest in future production.
OPEC has decided to cut its oil output by 2.2 million barrels per day, a 4.2 million barrel per day reduction relative to September production levels, as the cartel attempts to counter falling demand and sinking prices.
But maybe the only bright spot in the current economic disaster was the low price of gas. With a lot of families barely hanging on, an increase in gas prices could be disastrous.
We really need to get our country to the point where a bunch of guys in sheets can't manipulate our economy every time they need a new yacht.
UPDATE: If the leaders of the OPEC nations are not checking this blog for reaction to their production goals, its a good thing the market delivered a ringing FUCK YOU, OPEC in response to their announcement.
Thats right. OPEC tightens production, and the price drops to below $40 a barrel. Boo-ya. In your face. Now screw off, you degenerate sheep shaggers.
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3 comments:
Well, you know what the answer is to that: Drill here, drill now!
(pause, while trying not to laugh)
Fooled you for a bit, didn't I?
geo-thermal my china.
Haha! OPEC cuts production and the price still drops. That's like a chick taking her top off at a party and the only reaction she gets is that someone calls her a cab. Stupid sand-humping pindicks.
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