As you end your Thanksgiving Weekend – promising yourself that the diet starts tomorrow, I have been prepping for my first Blog Talk Radio show. The topic: OPEC’s take on a ‘reasonable’ price for oil. You can join the show by clicking on the button below or call in to the show at (646) 929-0724. [...]
OPEC has the oil – but they don’t have the answers. Since the first oil embargo back in the early 1970′s, every time that OPEC was looking to hold their power over us, they would play the crude card. It worked more often than not. So, now that we are in a global financial pinch, [...]
Economic recession. Plentiful stock. Reduced consumption. Can you say ‘soft market’? OPEC has called for an emergency meeting with plans to stop the downward march in crude price to 50% off its high of just 3 months ago. Maybe the OPEC nations should thank the speculators for boosting crude by perhaps an additional 20% when [...]
Here in the US, we are finally seeing gas prices ease – not enough in my opinion, but there is downward movement. The bad news – who has the bucks these days to burn? The pain is everywhere and no one is spared. Take the OPEC countries, for example. Even though it costs less than [...]
Douglas McIntyre, is an editor at 24/7 Wall St. and had an interesting observation on MSN’s Money page today. Saudi Arabia left OPEC’s meeting and stated ‘we will continue to supply oil’. Unlike leaders of Venezuela and Iran, who must stand on ceremony and bash the West at every turn, the Saudis are throwing their [...]
There were a few seemingly conflicting stories is the past day. As I wrote yesterday, OPEC was going to leave production output the same for the next few months – adopting a ‘wait and see’ approach on the global economy. I woke up this morning and was excited to read that on the London Exchange, [...]
At today’s OPEC meeting in Vienna, Austria, OPEC is resisting calls to cut production and states that the market is currently balanced between output, consumption, inventories and market price. Crude oil is still well over $100, gasoline, heating oil prices and fuel oil prices here in the United States and in Europe are still very [...]
Last week, I noted that Iran and Venezuela were vying to defend $100/bbl oil and push OPEC to cut output levels. Led by Saudi Arabia and the UAE, the Gulf States are countering that position and will fight to keep production level. The consensus is that while crude has softened by $40/bbl since its high [...]
So, you think that crude prices can drop 25% in a month and not be noticed by our friends at OPEC? The minute that we are ready to sigh a collective sigh of relief from lowering gasoline prices, OPEC is looking to shut off the tap faster than Dean Wormer put Delta House on “Double [...]
I often write about our energy independence. In order to be in more control of economy, we need to greatly reduce our dependence on foreign sources of energy. Why do I say this? Let’s have a look to the South, shall we?
