Are We Watching the Death of OPEC?


	Are We Watching the Death of OPEC?

chestnut501

12-4-2008 10:42 PM

204 views

tags:

news, economy, opec, oil

chestnut501 says:

From $148 a barrel to $50 a barrel in less than five months

2 Comments |

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12-5-2008 1:07 PM

darkduskx

Or just a scam to slow down the green movement

12-5-2008 1:46 PM

chestnut501

darkduskx, You make a good point.

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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/1e32df59-a14f-4260-a40e-ce054eb929a7/27D993A8-E06C-420D-A4C3-4B5B887CDC82/" 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://current.com/items/89587271/are_we_watching_the_death_of_opec.htm" href="http://current.com/items/89587271/are_we_watching_the_death_of_opec.htm" style="font-size: 11px;">current.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://current.com/items/89587271/are_we_watching_the_death_of_opec.htm">The plunge from $148 a barrel to $50 a barrel in less than five months has 
opened huge fissures in the Organization of Petroleum Exporting Countries. Some 
members, such as Iran and Venezuela, are desperate to raise oil prices so they 
can balance their national accounts. </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://current.com/items/89587271/are_we_watching_the_death_of_opec.htm">We've sat deathwatch for OPEC before, but this time the cartel's future looks 
especially bleak. </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://current.com/items/89587271/are_we_watching_the_death_of_opec.htm">OPEC couldn't agree on any production cuts in Cairo but promised to revisit the 
issue Dec. 17. The burden of production cuts would fall almost totally on the 
Saudis and other conservative Middle Eastern oil producers. That's why the 
Saudis didn't buy into that deal in Cairo and why they might balk again. That 
result could leave OPEC standing but effectively end the cartel's power to 
change the balance of global supply and demand.<BR>In the short run, that would 
be great for consumers.<BR><BR>In the long run, it would lead to global energy 
chaos.<BR></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/27D993A8-E06C-420D-A4C3-4B5B887CDC82/blog/" title="blog or email this clip"><img src="http://content8.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>

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