OPEC heads says unhappy with record oil prices [Reuters/Forbes]

[truthisfreedom]

http://www.forbes.com/business/energy/newswire/2004/05/17/rtr1373329.html

OPEC heads says unhappy with record oil prices
Reuters, 05.17.04, 12:23 AM ET


JAKARTA, May 17 (Reuters) - OPEC President Purnomo Yusgiantoro said on Monday the producers' cartel was unhappy about soaring oil prices, which started the week with benchmark U.S. crude rallying to a record high.

Purnomo, who is also Indonesia's oil minister, also said he expected that OPEC could make a decision whether to raise supplies to the world market next week if all 11 members turn up to a producers-consumers conference in Amsterdam on May 22.

"High oil prices can cause recession. We are not happy with high oil prices," Purnomo told reporters.

<snip>

[ikojo]

1. Just setting the stage so the price

can be lowered before the election. Isn't that what Prince Bandar (Bush) promised his "brother" Georgie?

[ze_dscherman]

2. The Saudis can't play it alone

Opec represents just a third of the world's producers. Among Opec, Saudi Arabia is considered the biggest "swing" producer, i.e. it has the biggest capabilites of turning on/off the spigot and thus may influence prices.

However, there are other players as well, and some, like Venezuela, certainly have an interest to NOT let Bush win another election. Also, oil prices are not only influenced by supply, but also by demand and speculation. At least demand and certainly quite a bit of the speculation part can't be controlled by bush*co.

[SoCalDem]

3. That's exactly what they are doing.. It's downright criminal

the way the prices are manipulated.. They are not even subtle about it..

Of course they will continue to rise throughout the summer, and then they will drop "down" to $2.00 and the poor schlubs who have to drive will say THANK YOU..:grr:..

And of course then it will be winter fuel time, and we're off to the races again..

I cannot understand why that whole industry is not just nationalized and stabilized.. It's too important a commodity to have "privateers" in charge of it.. Our whole economy is based on it..people must heat their homes..drive to work, ship goods.. it's a vital part of the economy and it's way past time to take it back from the buccaneers who are "pkaying us"..

That's why the middle east erupted in the first place.. we went there in the 30's, 40's & 50's..and they just got tired of us ripping them off.. If the arab nations could "take back" control, why can't WE??

[phoebe]

7. agreed. However, * and his US elitist friends have been lining

their pockets just as much as the rest of the world's elites. Iraq's oil supplies have been under Cheney/Halliburton/KB&R control for months. Don't tell me that this admin. couldn't have done something to relieve the US gas prices. Who was on the now infamous Cheney Energy Task Force? Despite lawsuits there has still been no information on that score.

[Nlighten1]

4. yeah.

He is so unhappy he can hardly count the money.

[struggle4progress]

5. Oh, these high gas prices ...

:cry: oh these high prices :cry: oh oh :cry:

[nolabels]

6. I am going to plant some pansies and buy a new fridge

A couple of clicks trough and here is what I found that can done about it!


(snip)
In the context of rising oil prices, many are asking how to deal with their new circumstances, and what they can do to make a difference in their communities. Here are some suggestions.

Personal

* Get the facts; don´t be fooled by government proclamations or journalism with an agenda.
* Become familiar with renewable energy by purchasing something using photovoltaics ("PV") that you can afford to lose or break. Get some experience with PV -- with a solarpowered flashlight, a lantern, or a backup power supply. More details of some interesting options will be provided soon.
* Natural gas and fuel oil are likely to be scarce (i.e., expensive) this winter. If you have a house that has access to a good southern exposure but limited windows on the south side, or something that shades the south, it would be worthwhile to do some modifications before the cold weather sets in.
* Get serious about energy conservation. The most inefficient appliance in your home is probably the refrigerator. It might be time to get a new one.
* Plant a garden again.
(snip)
http://www.hubbertpeak.com/

[struggle4progress]

8. Unless you buy a lot of cut pansies ...

planting pansies may not help much. I think the point of the garden may have been to reduce vegetable trucking costs? Some of that might be accomplished just by buying from local producers.

[nolabels]

10. Come on, I was just being a little sarcastic

One of the most compelling things you might also want to note is how the US agricultural system is mostly based on petrol and would shrivel up and blow away without it.

[struggle4progress]

11. Well, it certainly would be interesting to try to reduce ...

the petroleum inputs into agriculture.

[Nederland]

9. The real reason the Saudis want to lower prices

...is because they know that if prices stay high for long alternative fuels will start to become more attractive and affordable in comparison. They need to keep their energy monopoly intact because without it they are screwed...