OPEC and Oil Prices

[Racoon]

Oil will go up in price.

Americans are already bitching.
Well guess what?
They are higher everywhere else in Europe and Americans have been spoiled for too long.

Iran war talk will raise the prices. Venezuelan politics will raise the prices.
I hope you didn't buy a gas guzzling SUV.

High oil prices are good for at least one thing. Alternative fuels

India and China will be demanding more oil, as they modernize.
The supply will only diminish. The prices will only go up.
Simple Supply/Demand economics.

What effect on politics do you think this will have??

[Racoon]

Gas Prices will be the Topic on your Local News.

This topic will not go away. Alternative Fuels!

[bpjg2fat]

Whats up with that 85% ethanal fuel ive heard about. cars that can run on that instead of 87%

[Cedars]

Originally Posted by Racoon

Oil will go up in price.

They are higher everywhere else in Europe and Americans have been spoiled for too long.

Iran war talk will raise the prices. Venezuelan politics will raise the prices.

High oil prices are good for at least one thing. Alternative fuels

India and China will be demanding more oil, as they modernize.

What effect on politics do you think this will have??

If I remember right Europe has two things promoting the higher cost, more tax paid per liter, and not much oil under ground.

I think a primary drive in the high prices is stock speculation. It is artificially high because of this. And this will also insulate the oil companies from being charged with 'gouging'.

As far as the effect on politics there is potential for the oil interests to lose part of their influence in washington as voters themselves can begin to look at what costs to them the current practices have resulted in. But that is contingent on the collective memory, the spin put on the issue, and how well the people who will be trying to usurp the powers that be present their side. It will also be helpful if the upcommers have a history of being right, being involved, and are willing to go to the mat with the inevidible mud-slinging.

There is already some distance being put between the current administration and the people who have an election in the future.

[Racoon]

Originally Posted by Cedars

If I remember right Europe has two things promoting the higher cost, more tax paid per liter, and not much oil under ground.

I think a primary drive in the high prices is stock speculation. It is artificially high because of this.

There is already some distance being put between the current administration and the people who have an election in the future.

Point 1 Cedars. Some countries in Europe Tax on the SIZE of the motor in your car. Thus promoting fuel economy, unlike here.

Speculation? YES! Speculate an economy without Oil!!

The administration will feel the effects of this as people realize what a bunch of ill-intent a-holes they are. You are right on that.

Good for alternative fuels though and about time...

Hows the weather? How about those gas prices??

[Cedars]

Originally Posted by Racoon

Point 1 Cedars. Some countries in Europe Tax on the SIZE of the motor in your car. Thus promoting fuel economy, unlike here.

Speculation? YES! Speculate an economy without Oil!!

The administration will feel the effects of this as people realize what a bunch of ill-intent a-holes they are. You are right on that.

Good for alternative fuels though and about time...

Hows the weather? How about those gas prices??

Interesting info on size tax. I did not know that was a part of the taxation in Europe. Link for those interested:
http://www.cfit.gov.uk/factsheets/02/index.htm

One has to be careful about encouraging tax of this kind, in my opinion. I remember a few years ago, primarily on the west coast, there was discussion on madating GPS type technology on cars to tax by miles driven. So someone driving a economy car would be charged equally with someone driving a 1 ton PU. I find this alarming for a few reasons, number one being smaller cars do not damage roadways the way heavier, bigger traffic does. Another reason is it negates some of the influence for people to drive better milage cars.

[Racoon]

Originally Posted by Cedars

Interesting info on size tax. I did not know that was a part of the taxation in Europe. Link for those interested:
http://www.cfit.gov.uk/factsheets/02/index.htm

I remember a few years ago, primarily on the west coast, there was discussion on madating GPS type technology on cars to tax by miles driven. So someone driving a economy car would be charged equally with someone driving a 1 ton PU.

Good Link Cedars.
I learned this when I visited my Buddy in Austria. Thats part of the reason they don't buy many American Cars or Trucks. Not too many Buicks over there.
Nice 450 Big Block dude! bet thats taxed a fortune.

And that would be a crappy tax to have here!

Conspiracy: Al-Queda is fighting a proxy war for OPEC?

[InfiniteNow]

Whatever... let's write an international law that forces Exxon and Chevron to put 80% of their profit into research on teleportation. Can anyone say, "That'd be SWEET!" ?

[ck27]

Even though opec is making record profits, well along with the major oil companies, they are struggling to meet demand. I was reading some news articles that opec doesn't have enough oil rigs built to meet demand anymore and they are just barely hanging in there as they try and increase there supply. So there will be no immediate like fix to this. Look at the bright side, high oil prices makes everything more expensive. you will do some stuff that isn't so energy based, like maybe go out for a walk instead of driving. Instead of turning on the air conditioning enjoying the fresh air by having the windows open. The only thing that kinda worries me is if america lightens demand on oil, china and india will just pick up the slack so prices wont go down.

[Vagabond -SC2-]

That is funny I was reading an article (I will look for it) but it was saying that OPEC wants to reduce output to push prices higher. I have never heard what OPEC's max output nor have I ever read it as being an issue.

EDIT - Ok just read an on BBC that they are at record levels but that says nothing as to what they can put out. It also says they want to cut production soon... not much 1 mil or so...