Energy Outlook 2008 with Projections to 2030, Natural Gas Demand
http://www.eia.doe.gov/oiaf/aeo/gas.html
Posted on 10/22/2008 6:54:56 AM PDT by thackney
For years, the Organization of Petroleum Exporting Countries has exasperated Western governments by acting as a cartel to control oil production.
Now, the West may have a new foe: Gas OPEC.
Yesterday, Russia, Iran and Qatar, the world's three leading natural gas producers, said that they were forming a "big gas troika" that could become a permanent body.
It's not clear what role the group will have; Alexei Miller, chief executive officer of Russian gas monopoly Gazprom, said the body would meet up to four times a year to discuss pricing issues. However, Iranian Oil Minister Gholamhossein Nozari said he hopes the group will develop into "Gas OPEC," a formal body that makes output decisions in the same way that OPEC does.
"There is a demand to form this gas OPEC and there is a consensus to set up gas OPEC," Mr. Nozari told a joint news conference.
Historically, gas prices track those of crude; some consumers, especially in the U.S., can switch between gas and fuel oil, linking the two markets. Gas producers like Russia and Iran are keen to create a gas index that moves more independently and that could, in theory, be influenced by setting production quotas, potentially safeguarding their revenues.
The concept of a Gas OPEC is far from new; the idea has existed in some form since at least 1980, when a group of exporters - including OPEC members like Algeria, as well as Mexico and the Netherlands - sought to charge consumers a higher price for their product as oil prices spiralled.
(Excerpt) Read more at theglobeandmail.com ...
Gee, and we have a political party that cannot see why we need expanded domestic oil and natural gas production.
We could drive these characters into their well holes were we allowed to compete.
Gas wells and infrastructure going up all around my neck of the woods. Definitely a boon for the land owners and the local economy.
Sehr gut!
Is Alaskazuela going to join the cartel?
Energy Outlook 2008 with Projections to 2030, Natural Gas Demand
http://www.eia.doe.gov/oiaf/aeo/gas.html
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.