Saudi arabia walks out on OPEC

[CCr]

  saudi arabia has said we are taking our ball and going home.  the largest oil supplier in opec has quit. wonder if the US had anything to do with this..........

http://blogs.moneycentral.msn.com/topstocks/archive/2008/09/11/the-death-of-opec.aspx

[Drunko McMoppo]

That's very interesting... I wonder if it will be a good thing.

[Paul]

That's very interesting... I wonder if it will be a good thing.

I would say yes. Based on the article, I would think it's a good thing...

I need to see some bullet points from 68gto to tell me I'm right though.

[SDK]

Pigs or nigs

[NOTNSS]

I would say yes. Based on the article, I would think it's a good thing...

I need to see some bullet points from 68gto to tell me I'm right though.

:hah:

[68GTO]

I would say yes. Based on the article, I would think it's a good thing...

I need to see some bullet points from 68gto to tell me I'm right though.

Paul

• You
• are
• correct
• SIR

[TRDon]

I guess after reading that I still dont understand how that is a good thing.

[SFC]

Nice. Bout time we got something out of that relationship

[SFC]

I guess after reading that I still dont understand how that is a good thing.

"OPEC" said they're lowering production. Saudi Arabia has basically said fuck you. They're quitting OPEC, meaning they will continue to supply the US with as much oil as we want/need.

If they're part of OPEC, they are bound by whatever decisions the group makes.

[68GTO]

"OPEC" said they're lowering production. Saudi Arabia has basically said fuck you. They're quitting OPEC, meaning they will continue to supply the US with as much oil as we want/need.

If they're part of OPEC, they are bound by whatever decisions the group makes.

What he said.

[TRDon]

WOW, that does seem awesome

[SFC]

WOW, that does seem awesome

Of course, since oil prices are high because of a lack of refining capacity, prices won't change at all and this is of no benefit to us

[TRDon]

Of course, since oil prices are high because of a lack of refining capacity, prices won't change at all and this is of no benefit to us

This is indeed true Our refining capacity is at 120% and it has been since 1779. This wont help anything for us at all.

[Out nda sticks]

Of course, since oil prices are high because of a lack of refining capacity, prices won't change at all and this is of no benefit to us

Wouldn't it aleast help stabilize prices?

[TRDon]

Wouldn't it aleast help stabilize prices?

Why would it help reduce prices when we cant refine it as fast as we consume it