Record High Gas Prices?

[Arragonis]

Originally Posted by Christ

They misspelled it to read "DO NOT FEED THE DONKEYS", and political banter ensued.

As a non-merkin that took me a while to work out...

[Arragonis]

Looks like oil may go up again.

Oil prices have jumped by more than $1 a barrel after a meeting of Opec collapsed in acrimony without a deal to aid the struggling world economy by pumping more crude.

Saudi oil minister Ali al-Naimi called the gathering "one of the worst meetings we have ever had," after the Saudis' proposal to increase production quotas by about 1.5m barrels a day was blocked by six of the group's 12 members, including Iraq and Venezuela.

Several countries argued that they are using their tax revenues to cushion their populations against the rocketing cost of other commodities such as food and cannot afford for oil prices to fall.

Opec is not due to meet again for another three months, and some analysts said the angry divergence of views could mark the beginning of the end for the cartel.

[cleanspeed1]

I am tired of this hustle. We keep on going around the same circle over and over again, and yet nothing is being done about it.

And the biggest thing that has me mad is that Iraq has the nerve to vote against an increase. With all the money that was invested and lives lost in the Iraq war, it's just beyond reprehensible.

[Arragonis]

Not sure why you pick on Iraq especially, but all of these producers are looking out for themselves - or rather their ruling families or tribes in the short term.

At least when OPEC had influence they looked long term - hence the increase in production in the 80s after the shortages of the 70s.

The fall in the influence of OPEC is especially worrying long term.

[cleanspeed1]

Originally Posted by Arragonis

Not sure why you pick on Iraq especially, but all of these producers are looking out for themselves - or rather their ruling families or tribes in the short term.

At least when OPEC had influence they looked long term - hence the increase in production in the 80s after the shortages of the 70s.

The fall in the influence of OPEC is especially worrying long term.

I agree with you AG, they are all at fault.

[Arragonis]

Well, self interest really. The same self interest that makes the rest of the world want them to increase production and lower prices.

[Thymeclock]

Originally Posted by cleanspeed1

I am tired of this hustle. We keep on going around the same circle over and over again, and yet nothing is being done about it.

And the biggest thing that has me mad is that Iraq has the nerve to vote against an increase. With all the money that was invested and lives lost in the Iraq war, it's just beyond reprehensible.

Did you really expect gratitude from the Iraqis? Do you expect them to act like Americans now?

After we imposed ourselves into that country, spending a fortune and incurring massive debt, we won't even get any oil in return for it.

Only American politicians could come up with a strategy that dumb and an end result that worthless.

It amounts to "throwing pearls before swine, with not even a pork chop in return."

[Frank Lee]

^Didn't see that coming!

[Arragonis]

Originally Posted by Frank Lee

^Didn't see that coming!

+1 - and I would have to agree with TC, although I was trying to be more subtle about it

[tjts1]

Originally Posted by cleanspeed1

I am tired of this hustle. We keep on going around the same circle over and over again, and yet nothing is being done about it.

And the biggest thing that has me mad is that Iraq has the nerve to vote against an increase. With all the money that was invested and lives lost in the Iraq war, it's just beyond reprehensible.

Yes, I'm sure most Iraqi's are thrilled about the invasion and subsequent occupation. I'm sure they can't wait to repay us for all the wonderful things we've done for them over the last 20 years or so.