Thursday, December 28, 2006
Post no. 120
Adopted from another blog..
Silly things that people around the world do..
OPEC to Cut Production 1 Million Barrels of Oil Per Day !
Why?
ABUJA, Nigeria — OPEC has agreed to trim global oil production by 1 million barrels a day to boost prices, and its members were discussing how to share the cut, the cartel's president said Wednesday.
Theres no greed without power. Just 2 years back, crude oil was hovering around USD $30-40. Now, it has peaked at USD$75 just couple of months back.
Back then OPEC was happy selling oil at $30 per barrel but now, it wants to cut production to maintain the price at above $60.
Im not sure why they go through such trouble to maintain the prices above $60. The way i look at it, why dont OPEC just sell oil at $60 per barrel??! Citing supply and demand issues to pop up the prices dont make you look any less unscrupulous..
To hell with cartels..
Silly things that people around the world do..
OPEC to Cut Production 1 Million Barrels of Oil Per Day !
Why?
ABUJA, Nigeria — OPEC has agreed to trim global oil production by 1 million barrels a day to boost prices, and its members were discussing how to share the cut, the cartel's president said Wednesday.
Theres no greed without power. Just 2 years back, crude oil was hovering around USD $30-40. Now, it has peaked at USD$75 just couple of months back.
Back then OPEC was happy selling oil at $30 per barrel but now, it wants to cut production to maintain the price at above $60.
Im not sure why they go through such trouble to maintain the prices above $60. The way i look at it, why dont OPEC just sell oil at $60 per barrel??! Citing supply and demand issues to pop up the prices dont make you look any less unscrupulous..
To hell with cartels..
As if we care about your morals..
# posted by 好人 @ 2:00 AM 
