OPEC Invitation

Moscow Times ^ | 12 May 03

[RussianConservative]

LONDON (Reuters) -- OPEC said Friday it has invited seven rival exporters, including Russia, Norway and Mexico, to attend its June 11 meeting in Doha, Qatar, at which ministers are expected to discuss output cuts to make room for Iraq.

A spokesman for OPEC at its Vienna headquarters said it was the first time non-OPEC countries had been invited to an extraordinary conference.

[Southack]

As expected, OPEC no longer has enough control to keep oil prices propped up. You can bet that they will be asking Mexico, Russia, and Norway to cut their production voluntarily.

They won't do anything more than symbolic cuts, so oil is about to plunge.

[BrooklynGOP]

Putin has made a huge mistake by not going along with us on Iraq.

[RussianConservative]

That is to be seen. If Mullahs take over in S. Iraq, and union with Iran, then world will be dreaming of old socialist dictator as opposed to these nutjobs. Baghdad is still in anarchy and lots of looting and burning, little law...US already fired one "management" team. Afghanistan is slipping back into Taliban control in country side...but one could argue it never slipped out. There are a lot of ifs left and the true terror masters, Saudies, still protected by US.

[BrooklynGOP]

Baghdad is still in anarchy and lots of looting and burning, little law...

aaah.. Good, ol' russian media :)

ifs left and the true terror masters, Saudies, still protected by US.

Actually, we are beginning to play hardball with Saudis. There are already serious talks of pulling the troops out.

[RussianConservative]

So, America pulls troops out of Saudi Arabia, this stops Saudies from sponsoring terrorism how? Or do you buy into argument it is only because US is there? Next will be because of Isreal, then because of Christian palistinians and lebonies. Then because of US troops in Iraq, Turkey, Cyprus, Mars...etc. Then Russians in any land once owned by any muslim...or some other reason. It's just an excuse and nothing more.

[RussianConservative]

Not Russian news, British and US. Do search on FR.

[BrooklynGOP]

So, America pulls troops out of Saudi Arabia, this stops Saudies from sponsoring terrorism how? Or do you buy into argument it is only because US is there?

You are misunderstanding my point. The House of Saud is very weak. We are propping them up with our military presence, once we leave or threaten to leave they might be more inclined to do favors to make us stay.

[Libertarianize the GOP]

http://www.freerepublic.com/perl/bump-list

[BrooklynGOP]

Not Russian news, British and US. Do search on FR.

Given the fact that the military conflict ended just a month ago, I think we are doing very well. As for British/US news - most networks are not so friendly to the current administration.

[RussianConservative]

If they fall, they will be replaced by own Taliban...Saudi Arabia should be hit from outside. Bombed. South, "holy" cities given to Jordan, since Heshinites historic care takers.

[BrooklynGOP]

If they fall, they will be replaced by own Taliban...

That's "if". Besides Saudis are not that far off from Tabalin. Both are Wahabbis.

Saudi Arabia should be hit from outside. Bombed.

That would be easier to do if, like you said, Saudis fall in favor of a different regime.

[elfman2]

You forgot to add the part about the sky falling. Yea, the ME is a real mess since out defeat there…

[Southack]

"Putin has made a huge mistake by not going along with us on Iraq."

Ordinarily I'd agree with you on that point, but in this one particular case Putin did the right thing (for him, long term) by setting up his Communist adversaries for a fall. His Communist advisors look like idiots for saying that America would get its nose bloodied in Iraq, and by discrediting them, Putin is now stronger.

But he'll have to side with us on every issue from here on out. There's just no way that Bush will tolerate a second betrayal.

[dalebert]

What makes anyone think this means oil prices are about to plunge?

[elfman2]

" So, America pulls troops out of Saudi Arabia, this stops Saudies from sponsoring terrorism how?"

There was an extended story posted here before the announcement that the US troops were pulling out of SA that the SA government was planning a crack down on the radical mullahs, but needed our troops out because resentment of them was propping the mullahs up. Of course if you're inclined to look for the dark side in this, you'll dismiss it.

[Southack]

Venezuelan oil is coming back on line. Nigerian oil is coming back on line. Both have been almost completely shut down due to domestic strikes.

And now Iraqi oil is about to be hitting the world markets. Oh, and Russia is producing more and more oil every day, with most of it slotted for export.

There is an oil glut already, and it is about to be an oil flood.

What usually happens when supply outnumbers demand?

[RussianConservative]

Wishful thinking. US oil companies have no incentive to allow plunge, no more then other companies. Prices may drop some but not plunge. Companies want to make money, not give away gas...also transporation costs, refining costs still real, as well, Iraqi pipes and such very old.

[RussianConservative]

Well, Nigeria is sliding further to civil war. Venuezula is still a jitter until government falls...if it falls. Should have shot dictator when they had him. Demand world wide growing too. Most Russian oil heading to Europe, China & Japan, not US. US demand and SUV culture still growing too.

[AdamSelene235]

They won't do anything more than symbolic cuts, so oil is about to plunge.

Plunge in dollars? Given that you are FR's #1 currency debasement apologist, it seems odd that you think runaway inflation will lead to cheap oil.

The two should be mutually exclusive.