[BJEugene]

I was talking to Ironmaiden but I like your style also.

You go girl, as the Board needs a little balance as its predominately whiney Liberals, who failed to mature!!

[Gedominew]

They cant actually "raise" prices. Those are controlled by the futures market. All they can do is control supply.

Now who is the one that doesn't understand the basic laws of economics and supply and demand theory.

[beethyday]

The only portion of the global oil supply Saudi Arabia controls is the portion that they supply. As they'll find out again (like they found out in the 1980's) is that the worlds oil needs can be met w/o Saudi oil: at one point in 1986, SA was pumping less than 100,000 barrels/day. Some lessons just have to be repeated, it seems like.

When you control less than 10% of the market, any attempt to manipulate the supply-demand function by reducing your own production is an ultimately self-defeating exercise because other countries will be perfectly happy to cover your loss. And once they get those facilities up and running and you, SA, now have a new class of belligerents at the negotiating table, you realize that your attempts to control supply merely funded a new generation of competitors at your expense.

[beethyday]

You're making way too much sense, you must be from TN. Go Vols!

Varus

Actually, I went to the University of Georgia.



Let me tell you how awesome the dawg is: He's the only mascot to star in a Major Motion Picture in a role starring as another mascot. UGA IV (pictured) appeared in Midnight in the Garden of Good and Evil billed as UGA II.

[buyviagraonlineusatoday]

OK so the Republicans on this board aren't worried about the Saudis manipulating oil prices and electric cars with solar electric power is a stupid idea.

Got it.

Thanks for the welcome Samantha.

I'm not saying I agree with the Saudis producing less crude but it does make business sense if the price is down.

I think electric cars are great when you think about gas prices and how many mpg's they get. But once you start to recognize that electricity is also a scarce resource it makes you reconsider how great they actually are.

In California the main concern is electricity not crude. We had black outs last summer and more expected this year. Gas is always ready for me to pump. How do electric cars help our situation? They don't really make the price of gas go down and they draw on the demand of electricity which only makes it more expensive.

Solar is not that bad but the sunk cost involved is too expensive and payback is too long. People just aren't buying it.

[TheBestCheapestOEM]

I hear wind power at this point is actually farther along and working better than solar. So far. I think we need to push progress along a little harder so we can solve these huge problems of Mid East oil dependency and the pollution caused by burning fossil fuels which is warming the earth.

[Seiblybiozy]

I hear wind power at this point is actually farther along and working better than solar. So far. I think we need to push progress along a little harder so we can solve these huge problems of Mid East oil dependency and the pollution caused by burning fossil fuels which is warming the earth.

This is the type of technology that will power the future and which we should be investing our money and time on....

Fusion power - Wikipedia, the free encyclopedia
BBC News | SCI/TECH | Fusion power 'within reach'


Wind, sea, solar and others just can't produce enough to make a real difference. As their technology increases, so does the population demand on it. Therefore, I think they are a waiste unless it's used by people living far out.

[TheBestCheapestOEM]

The Saudi cut is seen as an aggressive move to keep the price of the US benchmark crude above 55 usd a barrel, the report said, citing Roger Diwan, an analyst at PFC Energy, a Washington industry consultancy.

Word of the Saudi move to further trim output comes as traders are trying to learn if OPEC is going to cut its production in line with its announced plans, the Journal said, noting OPEC's members often produce more than they have pledged.

Saudi Arabia's reduction is nearly double the total cuts it agreed to make under two output accords hammered out at OPEC at meetings in October and December, the WSJ said. The 10 OPEC members that committed to the cuts were producing about 27.5 mln barrels a day in September, the Journal said, and if the agreed-upon cuts are fully implemented, output would drop to 25.8 mln barrels a day in a global oil market of about 85 mln barrels a day. Saudi Arabia to cut oil output to raise prices - report - Forbes.com Looks like a good time to get that electric car built again. Solar panels all around. The Saudis have us by the balls.

[JTS_tv]

Thank God the Bushes are such good friends with the house of Saud! They'll save us!

[Zpxbawtz]

One of my favorite websites. A must-view for anyone who wonders how close the House of Bush/House of Saud really is:

House of Bush, House of Saud

[Vodonaeva]

See what i was telling you all along. MICHEAL MOORE IS RIGHT!!! Watch the movie " Fahrenheit 9/11 " and youll see what he was trying to tell you all along!!

[buyviagraonlineusatoday]

The fact is and will always be that they have a scarce resource that we don't have and a number of nations on this planet need. They are the ones producing the majority so they essentually set the market. And now we are competing with several other growing countries. Even if we curtail our consumption it does nothing for the overall price because there are now too many players in the game that effect the demand side of the equation and thus the price.

All you can do is fend for yourself and get a car that gets good mileage. 37mpg hwy here and as bad as 30 in the city with ac on.

[TheBestCheapestOEM]

Welcome to the board truthbetold.

I think we will have to wait 2 more years for some real alternative initiatives by our government. This admin is way to wrapped up in Big Oil.

If only the majority of Americans had voted for Al Gore in 2000 we might be well on our way by now.

Oh wait, they did!

[beethyday]

Doesn't look like y'all read the same article I did.

The Saudi's have already cut production by 842,000 barrels during a time in which the price of oil skidded from $70+ to $56.59 (today). They are cutting 158,000 more, which they hope will keep the price above $55.

The overall drop is from 27.5 to 25.8, or 1.8 million barrels. We know from this article that SA will account for over 1 million of these cuts, say 1.2 million barrels. Since SA accounts for 32.9% of OPEC production, how long will they remain happy with a production agreement where they bear the brunt of 55-67% of the cost? Regardless, they most likely won't want to cut any more of their revenues.

They like their role as swing producer, but I think it's more perception nowadays than reality. Uncertainty is what rules these oil markets, not Saudi Arabia, and that's what will keep the spot price above $55.

However, if the next inventory report has oil inventories jumping again like they did last time, the Saudi's will be hard pressed to keep the short-term price above $55 unless they decide to turn off the spigots (which would be ultimately self-defeating).

[Seiblybiozy]

Doesn't look like y'all read the same article I did.

The Saudi's have already cut production by 842,000 barrels during a time in which the price of oil skidded from $70+ to $56.59 (today). They are cutting 158,000 more, which they hope will keep the price above $55.

The overall drop is from 27.5 to 25.8, or 1.8 million barrels. We know from this article that SA will account for over 1 million of these cuts, say 1.2 million barrels. Since SA accounts for 32.9% of OPEC production, how long will they remain happy with a production agreement where they bear the brunt of 55-67% of the cost? Regardless, they most likely won't want to cut any more of their revenues.

They like their role as swing producer, but I think it's more perception nowadays than reality. Uncertainty is what rules these oil markets, not Saudi Arabia, and that's what will keep the spot price above $55.

However, if the next inventory report has oil inventories jumping again like they did last time, the Saudi's will be hard pressed to keep the short-term price above $55 unless they decide to turn off the spigots (which would be ultimately self-defeating).

I wanted to hear more Bush rants, and you ruined it.

[Seiblybiozy]

The fact is and will always be that they have a scarce resource that we don't have and a number of nations on this planet need. They are the ones producing the majority so they essentually set the market. And now we are competing with several other growing countries. Even if we curtail our consumption it does nothing for the overall price because there are now too many players in the game that effect the demand side of the equation and thus the price.

All you can do is fend for yourself and get a car that gets good mileage. 37mpg hwy here and as bad as 30 in the city with ac on.

Welcome Truthbetold.
Are you from the Bay area? You sound like someone I knew.

[regfortruegoo]

Looks like a good time to get that electric car built again. Solar panels all around. The Saudis have us by the balls.

Sounds like a good idea, in the mean time lets kick start our own oil production while we wait for the new technology to come out.

[Gerribase]

Gee, the Saudis (in fact all of OPEC) lowering production to keep the price of oil up is a completely new development!

They've never, ever done anything like that before Bush came along.



Matt

[KuznehikVasaN]

Looks like a good time to get that electric car built again. Solar panels all around. The Saudis have us by the balls.

We generate much of our electricity by burning oil. And the liberals (i.e., the Democrat Party) keeps voting against expanding the extraction of our oil, and keeps voting against building new refineries, and keeps voting against building new coal-fired electrical power plants (thereby saving our oil for our motor vehicles) and keeps voting against building new nuclear electrical power plants. So in reality it's the Democrat Party which has us by the balls, Samantha.

As for me, I recently (about 6 months ago) put a large portion of my funds into a mutual fund which specializes in energy companies. And every time the Saudis (or the Democrats, see above) do something which limits the supply and/or raises the price (i.e., "removing tax breaks" for the oil companies) of oil and natural gas, I realize huge profits in my mutual fund holding.

I find THAT to be far more useful and profitable than attempting to build an electric go-cart.

[KuznehikVasaN]

I think we will have to wait 2 more years for some real alternative initiatives by our government.

I agree. The Democrat Party will control Congress for the next 2 years.

If only the majority of Americans had voted for Al Gore in 2000 we might be well on our way by now.

Kinda like "if only the majority of Americans had voted for the Democrats in 2006", eh Samantha?

But your whining aside, I certainly agree with you that the prospect of the Democrat Party-controlled Congress doing anything useful over the next 2 years is quite unlikely. Besides, the Democrat Party has consistently and repeatedly voted against:

increasing our oil production

building new oil refineries

constructing new coal-fired power plants

building new nuclear-powered power plants

giving tax breaks to the oil companies so as to encourage energy development

So the Democrat Party is clearly working against energy independence for our country.