Saudi Arabia

[txswinner]

This is total hindsight on my part.<br /><br />Could the price of oil be out of control now because Saudi no longer needs us to protect them from Saddam. They never liked our presence but we defended them from him and now he is gone.<br /><br />Any thoughts on this.

 

[heycods]

Re: Saudi Arabia

less oil for more SUVs and palaces, when thier supply is starting to run a little low, Maby. They might even make the prospierty last another generation.

 

[JB]

Re: Saudi Arabia

The Saudi do not set the market price of oil, oil traders do. OPEC only sets the bottom price. Once they sell it to brokers/traders it works just like SuperBowl tickets(except that there is no shortage, just panic about future availability).

 

[kenimpzoom]

Re: Saudi Arabia

Nope, supply has not shrunk, in fact it has expanded a lot.<br /><br />But demand is what is driving prices.<br /><br />This is another sign that the world economy and the USA economy is doing good.<br /><br />Last time the oil prices went down is because of the recession in Asia and some overproduction. Remember, oil was selling for 8 dollars a barrel in 1999.<br /><br />Ken

 

[bootle]

Re: Saudi Arabia

TXS, The USA is bound by treaty (Woodrow Wilson) to protect the Kingdom and ruling family of Saudi Arabia.

 

[dogsdad]

Re: Saudi Arabia

I think that the increase in demand for oil is pretty closely tied to the economic expansion in communist China. We, like FOOLS, keep an open door to Chinese goods so that our labor competes with slaves of the communist state while wages are driven down and the communists build their military-industrial capacity with all their profits.

 

[kenimpzoom]

Re: Saudi Arabia

Hmmm... I think you need to go see China and see all the slaves.<br /><br />It isnt the same oppressive country it was 20 years ago. It isnt free, but it is much better.<br /><br />Also, with the taste of freedom, the Chinese will want more and more. If the goverment trys to prevent it, there will be a revolt.<br /><br />Trust me, Chinas good economy will be the best thing for the world in the long term.<br /><br />But yes, it sucks right now if ya work in manufacturing.<br /><br />Ken

 

[txswinner]

Re: Saudi Arabia

JB, You are not trying to tell me that OPEC's price fixing does not effect the price of oil, I hope.<br /><br />I was suggesting that perhaps we have lost some leverage on what the base price is set at, they no longer need to worry with a border neighbor.<br /><br />Darth, Good info, I did not know but plan to educate myself to this. Thank you.<br /><br />Ken, You need to understand a bit more about their cultural and social base. Their way of life has existed as it does between haves and have nots for more years than we know. Doubt you will see change in human rights in our life time. It is time for Americans to take care of America.<br /><br />dogsdad, You would think we would learn after Japan but apparently not. We must quit agreeing on things tho.

 

[tommays]

Re: Saudi Arabia

i thought they only decided how much to pump per year ? and the market demand or lack of demand decided the price <br /><br />tommays

 

[txswinner]

Re: Saudi Arabia

They actually set amount pumped and agree on price both. But who knows what goes on with a bunch of guys who get together, wear dresses, wrap towels on their heads and act like they do not drink.

 

[bootle]

Re: Saudi Arabia

Originally posted by txswinner:<br /> They actually set amount pumped and agree on price both. But who knows what goes on with a bunch of guys who get together, wear dresses, wrap towels on their heads and act like they do not drink.

you ain't talking 'bout jesus again, are ya?<br /><br />that son of a ..er ... did'nt show up again to rake up the leaves around my place

 

[Navigator]

Re: Saudi Arabia

We really haven't seen anything yet. I have a buddy who just got back from a trip to china (he's 50 years old and studies Karate under actual chinese masters). Anyways, he was saying that there is a huge interstate highway system that is nearly completed..10 lane highways..but he says there were very few cars on it. They are getting ready for what is to come. China has said to be plowing into the automobile making industry right now, with an expectation to surpass the total number of US cars by the year 2015. (there was an article a few weeks ago on CNN saying the chinese will be producing an US bound SUV equivalent to a fully loaded Ford Explorer Limited which they will sell here for under 15k)<br />Thats almost ten years and there will be double the amount of cars on the planet. With China soon to be a large consumer of gasoline, prices are not going to be heading down. The OPEC nations will have more customers and the fuel cost is going to skyrocket.<br /><br />Nav

 

[deputydawg]

Re: Saudi Arabia

Possibly a government action to support the war? Instead of rationing gas like they did way back, raise the price so citizens use less making more available for the military? <br />Just a thought to toss out. <br /><br />Notice that the huge outcry from the consumer has dropped so the prices are creeping back up? It is back up to $2.30 here and people are not complaining like they did a few months ago. It dropped down to $2.00 for a few days and now is back up. The sticker shock wore off so they can comfortably raise prices again.

 

[bootle]

Re: Saudi Arabia

Originally posted by deputydawg:<br /> <br />Notice that the huge outcry from the consumer has dropped so the prices are creeping back up? It is back up to $2.30 here and people are not complaining like they did a few months ago. It dropped down to $2.00 for a few days and now is back up. The sticker shock wore off so they can comfortably raise prices again.

Trying to find the public's comfort zone where ones wallet controllably hemorages with tollerable discomfort.

 

[Navigator]

Re: Saudi Arabia

Oh, and lets not forget Exxons $10,400,000,000 dollar PROFIT last quarter. And the $9,300,000,000 Profit the quarter before. And when the congressional committee investigated...they found nothing wrong.<br />Amazing...Gas prices double, and the oil companies report record profits...yet it seems they are not related. <br /><br />Nav