Clipmarks | Opec Clips

Iran Says Oil Price Is Right At $100 A Barrel

Sat, 06 Sep 2008 10:25:06 GMT

clipped by: merrie
clipper's remarks: Pressure for a cut in oil output at next week's Opec meeting in Vienna stepped up today when Iran’s Opec governor said an oil price of $100 per barrel was “appropriate”

Robert Laughlin, analyst at MF Global, said today that Opec had played a good hand in its actions — or lack of them — this year, when prices rose aggressively. "But [they] will be alarmed at the downturn in demand and the deteriorating economic backdrop of the global economy."

"Western leaders will be urging the cartel to remain unchanged in production strategy but I fear there is growing feeling in the ranks of price hawks that a cut in production is required and now," Mr Laughlin said

Even the most moderate Opec member, Saudi Arabia, which has indicated that it would prefer output to be left unchanged, has been cutting the discount at which it sells Arab heavy, a poor-quality crude that it uses to calm the oil price, offering large quantities at big discounts.

Clip Source: business.timesonline.co.uk

Oil market analysts expect Opec producers to vigorously protect the $100 a barrel price at next week’s meeting against a backdrop of rapidly falling crude prices and the strengthening dollar.

Crude oil prices are now at a five-month low and could yet fall through the $100 a barrel level, first breached at the beginning of this year.

“Continuing worries about the international economic outlook, a firmer US dollar and, possibly, market speculation that Opec may not move production levels following next week’s Opec meeting left oil prices softer,” David Moore, commodity strategist at Commonwealth Bank of Australia, said.

Predictions earlier this week that the world’s leading economies were at a standstill and that the UK could be in recession by the end of the year have heightened concerns that global demand for oil will fall back, sending prices plunging.

Venezuela has led demands for cuts but Ecuador's oil minister, Galo Chiriboga, has said that output levels should remain unchanged.

Tags: opec meeting in vienna, decrease production,

Iran, Venezuela say no to cheaper oil

Wed, 03 Sep 2008 18:11:36 GMT

clipped by: sillysam
clipper's remarks: This is why we must have our own sources of oil. The bad guys are willing to cut production just to keep prices high.

Clip Source: business.timesonline.co.uk

Iran calls for production cuts as oil price plummets

The price of crude oil tumbled yesterday in the futures markets as the destructive force of Hurricane Gustav dwindled.

Traders are focused again on the weakening global economy and panicky behaviour is being detected within Opec, suggesting that some cartel members fear that the oil price could crash. The gloom in the commodities markets pushed the price of US light crude as low as $105.46 per barrel yesterday, a $10 fall. Iran, the most hawkish member of the oil cartel, called for agreement next week on a cut of 1.5 million barrels per day in output.

Opec's more aggressive members are already speaking of production cuts. Venezuela and Iran have said that $100 per barrel is a benchmark they will defend and an Iranian official said yesterday that as a first step the cartel's members must stop exceeding production quotas, which would imply an immediate cut of about half a million barrels per day.

Democrats Plan To Reduce Gas Prices: Buy OPEC Oil?

Wed, 13 Aug 2008 08:00:58 GMT

clipped by: merrie
clipper's remarks: "Releasing oil from the Reserve is a tool to manage our national and economic security, and when judiciously used will in no way jeopardize national security," the California Democrat wrote.

Thus, Democrats favor exploration of the SPR, which is supposed to be used only for catastrophic shortages, but believe that drilling for oil in the U.S. is "a hoax".

Can someone explain to me why Democrats only hate oil that's made in America?

Update: "Obama releases Exxon ad and hopes no one notices it's a lie"... You just can't make this stuff up...
Despite his new TV ad, Barack Obama has received more money from Exxon and Mobil employees than Senator John McCain.

Update II: "Tire-Gauge Industry Pumps Up Obama Campaign Coffers."

Clip Source: directorblue.blogspot.com

If Saudi Arabia were to increase its production by 1 million barrels per day that translates to a reduction of 20 percent to 25 percent in the world price of crude oil, and crude oil prices could fall by more than $25 dollar per barrel from its current level of $126 per barrel...

Of course, Schumer also claims that drilling for the same amount of oil in the United States would not impact oil prices.

[Schumer said that] drilling in the Arctic Wildlife Refuge would “take ten years and reduce the price of oil by a penny.” ...Schumer also called for an end to the speculation in energy markets that drives up prices.

What does Schumer have against oil that's produced in America?

House Speaker Nancy Pelosi (D-CA) believes that releasing oil from the Strategic Petroleum Reserve (SPR) would help.

Pelosi sent a letter asking the president "to draw down a small portion" of the SPR's more than 700 million barrels of oil...

Tags: oil exploration, spr, chuck schumer, nancy pelosi, drilling is a "hoax"

Nancy Pelosi and Neville Chamberlain

Tue, 12 Aug 2008 06:17:06 GMT

clipped by: netfavourites
clipper's remarks: This new Republican Party is an extremely dangerous group of sociopaths that will belittle, and if possible destroy, every humanitarian and virtuous plan that comes along simply because it diverts funds from their Nazi mentality of world authority by military might.

Clip Source: www.bobmillerwrites.com

Articles & Short Stories by Bob Miller & Friends

If words could kill, George W. Bush would never have been sworn in, there wouldn't be a million dead, 4,000 of them young Americans. There wouldn't have been an Abu Ghraib disgrace, and OPEC wouldn't be talking about going to a money basket system. There would be more MBAs than KIAs, and the American Dream would still be alive and well.

Tags: nancy pelosi and neville chamberlain, phony heroes, dangerous politicians, human invertebrates, nazi mentality, veterans against mccain

An Explanation for the Gas and Oil Price Swindle..!

Mon, 11 Aug 2008 20:18:51 GMT

clipped by: TJColatrella
clipper's remarks: Why is the media allowing the Republicans and John McCain to lie to all of America..?

This article is great follow the link to the entire piece there's a lot more there..!

Clip Source: www.star-telegram.com

Everybody Was Warned!

As USA Today wrote of this fiasco in January of 2002, "But, as a power marketer, [Enron] could buy enough energy-futures contracts in a region to create a virtual monopoly." That’s right: As early as the winter of 2002, it was widely known that the 2000 Commodities Futures Modernization Act had created a monster, capable of running up energy prices outside of the normal law of supply and demand. Worse, our government had been warned this was going to happen. Representatives of the Federal Reserve, the Securities and Exchange Commission and the CFTC had already told Congress not to deregulate energy because "the market was ripe for manipulation." Everybody was warned; that’s why this deregulation bill was stealthily inserted into that appropriations bill without a floor debate.

Tags: bush, oil, gas prices, republicans, john mccain, cftc, drill here drill now, opec, cheney, halliburton

Drill drill drill

Fri, 08 Aug 2008 19:31:35 GMT

clipped by: sillysam

Clip Source: www.breitbart.com

Iraq said on Friday it was resuming exploration of its immense oil reserves after a break of nearly 20 years due to crippling UN sanctions, saying it hopes to double its proven deposits of crude.

"Today the Iraqi oil ministry celebrates a return to work by Iraqi oil exploration teams after 20 years of interruption," ministry spokesman Assim Jihad told AFP.

Oil Minister Hussein Hussein al-Shahristani was to attend a ceremony to mark the event at the Al-Garraf field near Nasiriyah, 350 kilometres (220 miles) south of Baghdad, Jihad said.

He said the ministry would deploy three exploration teams trained abroad in the latest techniques.

OPEC member Iraq hopes the squads will uncover deposits that will enable it to double its proven oil reserves, currently standing at 115 billion barrels of crude.

With the dollar strengthening on Friday, crude prices in London slumped below 116 dollars a barrel amid concerns about slower energy demand and as Iraq resumed exploration.

Oil falls to three-month low

Tue, 05 Aug 2008 16:47:42 GMT

clipped by: JICWyllie

Clip Source: www.guardian.co.uk

Oil slid to $118 a barrel as investors predicted that demand from the US and Europe was waning, at a time when some oil-producing countries have increased supply.

supply from Opec, the group of major oil-producing nations, rose for a third consecutive month in July driven by increased output from the world's top exporter, Saudi Arabia. Opec's members produce two in every five barrels of oil.

Angus McPhail from investment firm Alliance Trust said prices could fall to about £100 a barrel - still high by the standards set in recent years - if economic data remains weak.

Changes in the oil prices often takes six to eight weeks to hit the petrol pump.

Tags: energy, oil, i-supply, i-increase. i-price, i-decrease

Non Renewable Energy - Obama's Choice

Tue, 05 Aug 2008 04:20:00 GMT

clipped by: bmeuppls
clipper's remarks: After we sell the 70 million barrels, what do we use then? And will OPEC not take advantage of our lack of back up oil supplies? Or God forbid, Iran?

Clip Source: www.powerlineblog.com

We should sell 70 million barrels of oil from our Strategic Petroleum Reserve for less expensive crude, which in the past has lowered gas prices within two weeks.

Tags: energy, politics

The World is On Board... Obama Can't Be Far Behind

Tue, 05 Aug 2008 04:03:59 GMT

clipped by: bmeuppls
clipper's remarks: The world has noticed the US hypocrisy on drilling.

Clip Source: www.american.com

If you think that the issue of offshore drilling is only a matter of interest to American environmental groups and the U.S. Congress, think again. At last month’s World Petroleum Congress in Madrid, the blatant hypocrisy of U.S. energy policy—demanding that OPEC members expand their oil drilling efforts while restricting offshore drilling here at home—was a prominent topic of discussion. Indeed, the U.S. ban on drilling in the Outer Continental Shelf was mentioned by three of the most powerful people in the global energy business: the head of OPEC; the chief executive of Brazil’s national oil company, Petrobras; and the Saudi oil minister. All of them said the United States should start drilling in its offshore areas.

Tags: energy

Pelosi Wants to Save the Planet?

Sat, 02 Aug 2008 07:36:07 GMT

clipped by: bmeuppls
clipper's remarks: Democrats want no oil from the American OCS or ANWR. But of course they do want more oil. From OPEC. From where Americans don't vote. From places Democratic legislators can't see. On May 13 Sen. Chuck Schumer -- deeply committed to saving just those pieces of the planet that might have huge reserves of American oil -- demanded that the Saudis increase production by a million barrels a day. It doesn't occur to him that by eschewing the slightest disturbance of the mating habits of the Arctic caribou, he is calling for the further exploitation of the pristine deserts of Arabia. In the name of the planet, mind you.

The desire to swing a cluebat at these twits is strong....

Clip Source: www.washingtonpost.com

A lovely sentiment. But has Pelosi actually thought through the moratorium's effects on the planet?

Places such as Nigeria, where chronic corruption, environmental neglect and the resulting unrest and instability lead to pipeline explosions, oil spills and illegal siphoning by the poverty-stricken population -- which leads to more spills and explosions. Just this week, two Royal Dutch Shell pipelines had to be shut down because bombings by local militants were causing leaks into the ground.

Compare the Niger Delta to the Gulf of Mexico, where deep-sea U.S. oil rigs withstood Hurricanes Katrina and Rita without a single undersea well suffering a significant spill.

The United States has the highest technology to ensure the safest drilling. Today, directional drilling -- essentially drilling down, then sideways -- allows access to oil that in 1970 would have required a surface footprint more than three times as large.

Tags: politics, energy

OPEC 2.0

Wed, 30 Jul 2008 12:06:01 GMT

clipped by: JICWyllie

Clip Source: www.nytimes.com

AMERICANS today spend almost as much on bandwidth — the capacity to move information — as we do on energy. A family of four likely spends several hundred dollars a month on cellphones, cable television and Internet connections, which is about what we spend on gas and heating oil.

Like energy, bandwidth is an essential economic input.

A future possibility is to buy your own fiber, the way you might buy a solar panel for your home.

The solution is to relax the overregulation of the airwaves and allow use of the wasted spaces. Anyone, so long as he or she complies with a few basic rules to avoid interference, could try to build a better Wi-Fi and become a broadband billionaire. These wireless entrepreneurs could one day liberate us from wires, cables and rising prices.

Americans are as addicted to bandwidth as they are to oil. The first step is facing the problem.

Tags: technology, internet, i-bandwidth, i-prices, i-policy, i-deregulation

Sen. Reid explains how Republicans are keeping Oil Prices as high as possible...

Sun, 27 Jul 2008 00:18:03 GMT

clipped by: TJColatrella

Clip Source: www.alternet.org

[Video]

Tags: oil prices, gas prices, opec, bush, enron loophole, futures market, senate, economics, republicans, texas

sign of the times - oil to dictate right and wrong

Thu, 24 Jul 2008 23:07:50 GMT

clipped by: boozich
clipper's remarks: the power of oil - and what's with the boys name?

Clip Source: www.timesofmalta.com

OPEC member Libya is halting oil shipments to Switzerland in protest at the arrest of a son of Libyan leader Muammar Gaddafi, workers of state-owned Maritime Transport National Corporation said on Thursday.

All ships carrying Swiss-made goods are barred from unloading their cargoes at Libyan ports, they added in a statement issued shortly after they staged a protest outside the Swiss embassy in Tripoli.

The ban on oil shipments includes both crude oil and refined petroleum products. The protesters also threatened unspecified further action against Swiss authorities if they did not apologise "in the next coming hours" for the arrest in Geneva on July 15 of Hannibal Gaddafi.

Gaddafi, who is a senior official of the maritime corporation, was released on bail in Geneva after he and his wife were charged with ill-treatment of two domestic employees. Gaddafi denied the charges, his lawyer has said.

Democrats And Gasoline

Sun, 20 Jul 2008 06:01:38 GMT

clipped by: merrie
clipper's remarks: that they must have some gall to criticize creationism when they in fact subscribe to its economic equivalent. But as I wrote last week, I don't really think they are this ignorant. They're providing a rhetorical distraction to the fact that they want high gas prices, probably higher ones than we have right now.

Meanwhile, in order to deflect and even harness consumer anger in the political arena, they can send out Chuck Schumer to put on this dog-and-pony show about the phantoms that are secretly directing the economy from behind closed doors. It's a smokescreen. As an energy consumer, you should be a lot more concerned about what Democrats are doing in the open Senate chamber.

The gas crisis finally hit Capitol Hill with full fury this week, and Senate Democrats have launched a plan that sounds ambitious: Take on Wall Street speculators, OPEC, price gougers and Big Oil.

http://www.politico.com/news/stories/0408/9967.html

Clip Source: atlasshrugs2000.typepad.com

Mark Levin gave Atlas reader Andy an idea. Because gas prices are so high, Levin wondered aloud if there was a way to get information out to the people at the pumps as to who's to blame for the high prices. This gave Andy an idea.

Clip Source: corner.nationalreview.com

Democrats and Gasoline [David Freddoso]

The article to which Mark Levin links is an eye opener. At a time when the weak dollar, the oil cartel, terrorism, and surging demand in the developing world have sent oil prices soaring, Democrats are more concerned with Santa Claus and the Easter Bunny:

Mythical Texas oil tycoons! (It helps that Bush is president.)
Conspiratorial price-gouging ! (Pump-operators are losing their shirts right now.)
"Profiteering speculators!" (Ever heard of the "short position?" Do you think that "profiteering speculators" don't know to build one when prices get too high?)

Clip Source: atlasshrugs2000.typepad.com

Clip Source: corner.nationalreview.com

You could easily get the impression that the Democrats' energy policy is just that obtuse —

Tags: gasoline, pelosi, reid, obama, schumer, opec, oil companies, oil traders, price gouging

Here's a way to thumb nose at OPEC

Fri, 18 Jul 2008 12:23:29 GMT

clipped by: pkronfield
clipper's remarks: I converted my truck last week. Now runs on used restaurant vegetable oil.

Clip Source: www.greasecar.com

Save Money! Help the Environment! Reduce America's need for foreign oil!

The Greasecar Vegetable Oil Conversion System is an auxiliary fuel modification system that allows diesel vehicles to run on straight vegetable oil (SVO) in any climate.

G V F S

Tags: alternative energy