http://www.247wallst.com/2008/09/the-death-of-op.html#more
Why isn’t this getting more press coverage?
:bigclap:
Nice catch. This is going to be interesting…I hope.
holy awesome. How did we not hear that. They have enough capacity to pick up the slack if OPEC cuts production, so there’s no way they’ll actually do it now, and let the Saudis take the extra profits.
From the first article I linked. 
Saudi Arabia walked out on OPEC yesterday. It said it would not honor the cartel’s production cut. It was tired of rants from Hugo Chavez of Venezuela and the well-dressed oil minister from Iran.
As the world’s largest crude exporter, the kingdom in the desert took its ball and went home.
Screw you guys, I’m going home. /Cartman
101.04 and falling
Keep that in the oil prices thread or this will get merged. I created this separate because it’s a pretty big news story that CNN I guess just doesn’t want to cover.
Wow. You mean that we didn’t go to war with them and they are actually supporting the world?
Amazing. I am waiting for Bush’s response to this about how he had something to do with it.
Glad I am holding off on my oil futures purchases. Lol
the major news networks have bigger things to worry about. Like 82 stories involving the phrase “lipstick on a pig” and its possible connotations. :picard:
holy hell. amazing.
Wow, this is pretty huge.
^ And the fact that the chick who won that beauty contest Palin took 2nd is supporting Obama. Really? That’s news?
:tup:
If gas falls below $3 again I am buying a wrangler.
I was the last one to think oil would fall back below $100/barrel.
I was wrong.
i dont see that happening for a long time.
INB4SOMEOILPRODUCINGCOUNTRYTAKESOVERSAUDI
:tup:
Demand dropped becuase the world is becoming more energy conscious among other things. As soon as gas gets to $3, the thinking of OMG back to big cars and SUVs will come back. People will start going back on road trips and travel more and demand will shoot up and bring it back up to over $100 a barrel. I think where it is now is the happy medium of what we can see for some time until some ground breaking technology comes out and drops the demand for gas and oil.
:barf: :barf:
Great find Jay, thanks!
$2 - $2.50 is a good compromise.
You know what this means don’t you?! :awdrifter:
:uhh:
:lol: They figured out that they passed peak oil and are hoping nobody calls their bluff. “No no, come back to OPEC. We won’t cut production. You’re still the boss.”
:tinfoilhat:
we may not have alot of military available but I’m pretty sure that every last member of the US armed forces would be on the kingdom grounds withing 48 hours.
good article A+