OPEC untouchable?

balance_else_complacent SG

Hi Friends,

You know how many times the oil price has hiked.

I confirm you lost count already.

Now, there is currently enough oil for at least the next many decades.

What are the reasons for oil conglomerate to hike the price?

Why so drastic and frequent hikes?

The most important question you should ask yourselves is

when all the world is begging for oil price to come down,

no government in the world appears to be able to stop the OPEC or oil pricers from hiking the oil.

There is surely enough oil . With no shortage, why is it continously hiked?

According to a tv show I saw, OPEC member countries gave OPEC the power to determine the price or something like that. Not exactly remember the exact words. In the 1st place, what caused the opec members to give it this absolute power? Who are these representatives of these countries in OPEC? Do they decide for their people? Did their people gave them the power to decide and give this power to OPEC? Correct me if I am wrong, but this has been my understanding of the situation.

The tv show only succeeded in 1 thing : helped justified the oil hike. strange world.

frakfrakfrak SG

OPEC cannot control oil price, if can Palestine would be liberated by now. Read up on how hedge funds are being used to channel trillions of newly minted U.S Fed reserve dollars into speculative activity on the stock market.

balance_else_complacent SG

http://www.youtube.com/watch?v=eHalEa_etXI&feature=related

frakfrakfrak SG

That video you posted was pure anti-arab islamophobic diatribe without any factual backing whatsoever.
http://www.youtube.com/watch?v=zub6MJ60UxI
What the oil execs didn't tell you

http://onlinejournal.com/artman/publish/article_3326.shtml
Speculators only need to fork up $8 a barrel to buy oil futures

http://www.youtube.com/watch?v=t03s5ul0Xs0&feature=related
CNN News-oil market manipulation clip
U.S. market regulators has been investigating for 6 months.
George Soros admits oil bubble. "Orgy of speculation"

http://www.youtube.com/watch?v=nHut-wGdhBE&feature=related
CNN: Oil production near full
OPEC: No more excess capacity
Cheney: No easy way to increase output

http://www.youtube.com/watch?v=4_V7LU9bJ5U
Soros: Credit crisis remanifest itself in commodity crisis

http://www.youtube.com/watch?v=CfF31uArCDw
CNN: Definitely speculation, demand has actually gone down but prices keep rising. Speculators running amok.

NoobBOY SG

The WTO should really do something to stop this one day

balance_else_complacent SG

No use wan, its reported everywhere NO ONE in the WORLD, even when all of them combined can stop oil price hikes. Of course except the 'kings of oils' themselves.

Its weird , don';t you see, no gubbymen can stop them even when they all combine effort.

If there is a war, usa can stop it. But when there is oil hike, usa is sitting baby ducky.

balance_else_complacent SG

oil speculators must be jailed without trial and access to lawyers since they have all the money to bend things. can even own kangaroos.

are oil hikers being protected by somebody?

Gosu. SG

oil speculators must be jailed without trial and access to lawyers since they have all the money to bend things. can even own kangaroos.

are oil hikers being protected by somebody?

Your arguments are unjustified, oil hikers are protected by their own resources - oil. IF oil hikers; i.e in your exact words OPEC were to be attacked, the only result would be world war and increased fuel prices.

In a sense if they were to be attacked, alot of countries might jump in and attack the aggressor, because oil prices will only rise further due to distraction from oil production as well as increased fuel demand for warring.

It's like how the iron ore companies; namely Rio Tinto manage to pull of a 80-96% iron hike agreement with Bao Steel- just because they are one of the iron ore producing powerhouses.

Similarly, if there is demand and you're the only supplier and there's no competition as long as you put your items on a consumable level with respect to world economy you can manipulate the prices.

After all in supply/demand curve if the price exceeds market expectations - meaning there will be less consumers but yet your profit goes up and if consumer numbers do not drop too significantly - which in our case; oil which is a highly demanded commodity/necessity in some cases, your profit skyrockets without having to increase supply - thus long-term sustainability.

nehpyh SG

Now that the war has ended.....the bankers need something else to up their interest what....

balance_else_complacent SG

that is why :

1. MONOPOLY must die.

2. ABSOLUTE POWER corrupts absolutely.

3. CORRUPTION must die.

4. JUSTICE is important.

5. IMPARTIALITY is important.

6. KANGAROOism must not be encouraged.

7. CRONISM must end.

8. UNLAWFUL laws must end.

9. UNJUST laws should be amended.

10. MERITOCRACY means no to family run business.

11. ACCOUNTABILITY is important.

12. THE AUDITOR MUST ALSO BE AUDITED.

13. TRANSPARENCY is important.

14. POWER TO THE PEOPLE !

15. last aint not the least, BALANCE ELSE COMPLACENT.