OPEC head say Oil prices have nothing to do with Supply Demand


	OPEC head say Oil prices have nothing to do with Supply Demand

TJColatrella

6-28-2008 4:25 PM

226 views

tags:

oil, bush, cheney, enron loophole, phil gramm, john mccain, texas, traders, speculators, republicans

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/73895a74-28b4-4512-b831-d29f63fa247a/08FC244E-916F-4503-8141-1BF575624E2B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://thebrokenforum.wordpress.com/2008/06/28/opec-oil-will-rise-to-170-a-barrel-by-2009/" href="http://thebrokenforum.wordpress.com/2008/06/28/opec-oil-will-rise-to-170-a-barrel-by-2009/" style="font-size: 11px;">thebrokenforum.wordpress.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thebrokenforum.wordpress.com/2008/06/28/opec-oil-will-rise-to-170-a-barrel-by-2009/"><H2 id="post-182"><A title="Permanent Link: OPEC: Oil Will Rise to $170 A Barrel by 2009" rel="bookmark" href="http://thebrokenforum.wordpress.com/2008/06/28/opec-oil-will-rise-to-170-a-barrel-by-2009/">OPEC: Oil Will Rise to $170 A Barrel by 2009</A></H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thebrokenforum.wordpress.com/2008/06/28/opec-oil-will-rise-to-170-a-barrel-by-2009/"><P>JACKSONVILLE, Fl. - Just in case you are expecting some kind of relief by the end of the year where gas prices are concerned you can forget it. True to his word, OPEC President, Chakib Khelil, is now <A target="_blank" href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aq_sRQH22HdY&refer=worldwide">claiming</A> that oil will rise to $170 a barrel by the end of the year.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://thebrokenforum.wordpress.com/2008/06/28/opec-oil-will-rise-to-170-a-barrel-by-2009/"><P>Amazingly (and perhaps most telling of all), Khelil, along with his U.S. oil counterparts, remain steadfast in their position that the high prices have <SPAN>absolutely nothing</SPAN> to do with supply. In fact, Khelil says that there is more than enough oil to meet not only U.S. demand, but international demand as well.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/08FC244E-916F-4503-8141-1BF575624E2B/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>