So yet again OPEC is going to try manipulate the price of oil?

http://news.brisbanetimes.com.au/world/o鈥?/a>





isnt this reason enough to seriously pursue renewable energy so that we dont have to keep putting money into to pockets of the people who quite clearly dont care about the effects high oil prices have. high oil prices have been a huge factor in the current economic crisis and yet again OPEC is pushing to drive prices up. we shouldnt be held to ransom by the countrys with oil should we?So yet again OPEC is going to try manipulate the price of oil?
Pursuing renewable energy resources is a commendable undertaking; but, will not deter OPEC's mission to coordinate and unify the petroleum policies of member nations. The five original members of OPEC were Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela; five of the most prolific oil producers in the world.





These five countries do hold the rest of the world at ';ransom';, and they know they do.





Antonio Lopez de Santa Anna knew he had the defenders of the Alamo by the ';short hairs';. Opec members know they can manipulate the price of oil.





Don't be deceived by the lower gasoline prices. The Sheiks in Saudi Arabia are not suffering. They have plenty of money to suppport their four or five wives, and their many children.





Yes, OPEC can, and will, manipulate the price of oil. The U.S. Government allows OPEC to do so.








So yet again OPEC is going to try manipulate the price of oil?
They set the price of oil for their members, which is about half the oil-producing countries in the world. The problem is that when oil prices are high, we get all serious about alternatives. When the price drops, the investors leave the alternative market or the oil companies buy the companies and put them on the back burner. It's been happening for about 35 years.
America has ALL the crude we will ever need. We can build tons of refineries by taking out the EPA regs. The problem is this...





(1) Crude is not about the environment or a transportation medium. Crude is about political power %26amp; (P)eople (C)ontrol(PC).





(2) Americans OWN our natural resources, NOT our ELECTED government officials.





(3) Inform your elected officials that you want an end to our crude being shipped abroad. Also inform them that our extracted crude is to be BID UPON by competitive crude extracting companies, AND, that our elected representatives are to be taking the lowest bid so to keep our petroleum products as low in cost as possible for Americans quality of life.
Opec actually manipulates our energy policy too not merely the price of oil. Remember when Bush asked for a price break? They would actually increase prices even more, immediately if we pursued energy alternatives too aggressively. Add to that the oil lobby in the US and to wasteful practices of consumers and we are really screwed.
Note that Iran just put in place a monetary system w/ gold backing. They also no longer peg their oil to the US dollar. last point we get more oil from Canada and Mexico than all the middle east combined. Investors are the ones holding us ransom standard oil was @ $159 a share in July its now trading below $45 just some food for thought.
I think OPEC has been figured out by the market and now it is all about overall capacity. The recent spike and decline has more to do with hedge funds than anything else.
well just see what obama says about that
i think we need someone to stop these terrorists
OPEC was formed to manipulate the price of oil in the first place. Before OPEC, oil producing countries were getting paid pennies for their oil and were having in pumped out as fast as they could. They realized that this is their only natural resource and once it is gone it is gone, so they have to get a good price for it while it is there. I don't blame them for wanting to get more money for their oil.





There are a number of energy sources that just were not practical when oil prices were lower, but are starting to look more attractive now that oil is going through the roof.





If OPEC continues to keep the price of oil as high as it has, then oil consumers will find alternative sources of energy and OPEC will put themselves out of business.





We do need to seriously pursue alternative (renewable) energy sources. Let me point out that I think electric cars are the way to go here. Let's say you make cars that run on Ethanol. What happens when Ethanol becomes expensive, or hard to produce? It's hard enough getting everyone to switch from oil to ethanol. Getting them to switch fuels again is equally as hard. Now suppose you run on electric and you have an electric plan running on coal. So ultimately, everyone's fuel for their car is coal. Want to switch everyone's fuel - build a new electrical plant. Run it on solar, wind, bio-mass, etc. That's why electric is the way to go - no one will ever have to change their cars, engines, etc. again; just change the power plant. Besides, the larger an engine is, the more efficent it is (more fuel is turned into useable engergy and less into waste by-products or expelled heat, etc.), so we are better off burning fuels in very large power plants.





Also, power plants often times can't really ramp down at night very much, so they often produce power that simply goes to waste. Most of us would charge our cars at night. So we would be using energy that is typically wasted anyway. Win win.