OPEC Threatens to 'Flood Market'

The Moscow Times ^ | 11/28/01 | Valeria Korchagina

[breakem]

Anyone know the storage capacity of our strategic reserve and wht % of capacity we are currently at?

[Delta 21]

SUPPLY and DEMAND

I love it.

[Tuscaloosa Goldfinch]

$0.85 gas, --, let's get it down to $0.50 per gallon and listen to the liberals scream that tax revenues are down. Meanwhile the economy takes off and Bush gets the credit.

Excuse my ignorance, but this brings to mind a question. Are the taxes which are imbedded in the price of gasoline on a price percentage basis or are they based on just the unit (gallon) of gasoline? I remember seeing a sign on a local Texaco gas pump that announced the tax amount "per gallon" the customer was paying.

[Jay W]

I hope they call the bluff of the OPEC gangsters

Me, too. The raghead gangsters, in a true clash of civilizations, are dead set on taking on BOTH the USA and Russia.

Russia has been our ally in the past, and now that they've thrown off the oppressive mantle of communism, it's easier for them to be our ally than at any time since WW2. The Russians have the same basic civilization we have. The Arabs and other assorted ragheads do not have the same basic civilization we have.

It's in Russia's best interest, too, to disregard the OPEC demand that production be cut. Kind of ironic, isn't it, that Russia's NOT GOING ALONG with OPEC is rather characteristic of a free market; the independent merchant who doesn't go along with the monopolistic cartel, but who undercuts the cartel, and has the strength to defy it.

[ScottinSacto]

Full size SUVs - not those CRV wannabes!

[Magician]

RE: Saudi Arabia

Maybe the royal family could close a few of their palaces and gamble a little less in Monte Carlo. I feel for them!

[Jay W]

$.769 is the cheapest in the country, from what a friend told me after he saw a news report. This is the Quik Trip on Abbots Bridge Road and Peachtree Industrial. Average in the Atlanta suburbs is somewhere around $.849.

I love it. The BP had $.849 per gallon today. These are late-70's prices returning!

Dare we hope for early-70's prices? How about 1960's prices?

Anyone for gas at $.389 a gallon? Put five bucks worth in and fill the tank?

[Ragtime Cowgirl]

On the same day Daschle buried ANWR. What's Daschle doing in charge of the Senate, anyhow? Is everyone else in the Senate ignoring the fact that we're at war? Why don't they take these anti-Americans out to the woodshed?
Daschle Stalls ANWR and Energy Bill, dead for the year.

[appeal2]

In 1970 my father had a Cadillac Sedan DeVille. I slurped gas and got about 9 mpg. We used to stop in the Pathmark gas station in East Brunswick, NJ. Premium was .229. Regular was .189. And they gave you a crappy glass each time that immediately broke in the dishwasher, first time guaranteed. My dad was driving 50k plus miles per year and we a collection of glasses. He was getting them faster than mother could break them. And best of all, they cleaned your windshield too. They did a lousy job but they did clean it.

[deport]

FYI..... What is the economical/breakeven price of keeping the stripper wells flowing today? $12/14 bbl.

[Sgt_Schultze]

...Does this mean we'll see a return of the Chevy LS6 and Olsmobile 455 Rocket?

Probably not. BUT, get ready for the refitting which will allow the Viper V-10 engine as an option on the 2002 Neon.

[jbstrick]

If the price drops to around $10.00 a barrel all US oil CO's will cease exploration and forever seal/cap many stripper wells. Essentially reducing our capacity to produce. (from someone in the know)

[Howlin]

He is REALLY beginning to get on my nerves!

[gonzo]

"...Does this mean we'll see a return of the Chevy LS6 and Olsmobile 455 Rocket?..."

GEARHEAD!! OH HOW I LUST FOR SUNOCO-280!!!

Yes, I have a car that won't digest 93-Octane shit!

Someday soon, I hope. Stay well and vigilant, pal...FRegards

[Ernest_at_the_Beach]

Take out the taxes and compare the prices!

It ain't the oil companies!!

[chaosagent]

.769!!! I paid 1.399 last night up here in Washinton state. But we all know that the gas companies would never gouge us, right?

Just a question. How much drilling does Washington state allow?

Or does it all have to be shipped in?

[Justa]

Sounds like a Buyer's Market. Maybe we should go around making purchasing agreements and circumvent the supply-side economics.

[lafroste]

If I am not mistaken, the Strategic Petroleum Reserve has a capacity of 800 million barrels. It is now at 100% capacity because W topped it off recently to replace clintoon's "emergency" 30 million bbl fiasco last year.

[witnesstothefall]

Typical. The Muslims who dominate OPEC are threatening oil martyrdom, a petrojihad. They think they can achieve absolute control and economic ascendancy by destroying the market. Typical totalitarian methods; like Osama, the Taliban and the rest, they too shall fail.

[breakem]

I'm installing a hundred million barrel tank in the back yard, just to help out a bit.