Interesting to see how at this time OPEC doesn’t seem to have the leverage it is used to.
As the economies recover, they will wield more influence...and as the libs continue to stall our efforts to get our own oil, OPEC will become stronger.
Looks to me like the dems done stalled sufficiently to allow the high price to slide to the point that exploration and drilling, domestically is not cost effective. That, to some extent has been the issue all along. The price at the pump needs to be exorbitant to galvanize the people to be able to cause congress to pay attention for more than the two minutes they are capable of paying attention to anything.
Not to mention the brainless and arbitrary rules on drilling for the stuff. If all those laws against domestic drilling were dumped into the ash heap of history, at least oil companies would have no excuse for not moving forward when prices per barrel make it feasible.
Wonder how much more anti business anti citizen stuff will manage to get by the congress, before the next short period in history where the oil companies reap record profits and the dems/socialists, and commies will be able to beat them black and blue through of course the complicit media that makes it possible for congress to beat anything they want black and blue.
George W, oil companies, the automobile industry, drug companies for example. There is more, much of it a result of unintended consequences of long noses and loud mouths of our congressional saviors.
If Obama implements even one tenth of his campaign promises the recession will deepen as higher taxes drive out entrepreneurship, demand for oil will continue to fall and exploration will be to expensive for anybody.
re: As the economies recover
I know they always have (recover), but I have to wonder how long this one will take. So many things are wrong now I don’t see how we can get back on an even keel, or even close to it.
Most of the prosperity the world has enjoyed in this recent growth spurt, as long as it was, was paid for by credit. Until we find a way to get over the huge pile up of debt there’s no way any of world’s economies can begin to recover.
The next big hit will come as all the second mortgages begin to fall into default. Lots of people used the increase in the value of their homes to finance a lifestyle well beyond what their income could provide. Many of them find the value of their homes has gone down, in some cases way down, and the credit ride is over.
>As the economies recover,<
Currently economies are weakening.