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2005-12-12 International-UN-NGOs

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Posted by Steve White 2005-12-12 00:00|| || Front Page|| [3 views since 2007-05-07] Top

#1 Well, the US Congress has decided to hold production as well, so you can't blame OPEC.

They held hearings about Exxon's profits and then turned around and did precisely what was needed to keep prices high and volatile for the forseeable future.

Posted by Abdominal Snowman 2005-12-12 09:51|| 2005-12-12 09:51|| Front Page Top

#2 The price of oil has tripled since the start of 2002.

And ironically some still contend that the West is raping the ME of their resources.

Posted by DepotGuy 2005-12-12 11:52|| 2005-12-12 11:52|| Front Page Top

#3 Will they be capable of maintaining this level of production? Venezuela's output has dropped significantly since Chavez started his improvements program, and how many knowledgable Westerners left when their compounds and businesses were attacked by AQ (Saudia branch), and never returned? And how are the Russian oil fields doing? The last time I looked (admittedly several years ago, sorry) the equipment dated back to around the Stalin era, and was woefully neglected, resulting in poor production and plenty of product lost through leakage. And even Syria can't maintain production levels... Before Thanksgiving gasoline dropped to as low as $1.98/gallon here in Cincinnati, but as of today is back up to around $2.25/gal.

Posted by trailing wife 2005-12-12 21:11|| 2005-12-12 21:11|| Front Page Top

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