Quote:
Originally Posted by ComairFO
While I don't enjoy paying 3.75/gal for gasoline, how would you feel if YOU had a product that everyone needed/depended on?
OPEC can do what they may and the consumer will continue to pay (unintentional rhyme). The biggest problem for OPEC is that they have p'ed off a significant amount of people who are now very motivated to explore alternative options for oil. We are closer to realizing the result of this than many of you might think. One of two things is going to happen--oil will run out or society will no longer have a big need for oil. Let's hope one happens in our lifetime.
P.S. Did anyone read a few weeks back that the U.S. is exporting grain to Iran? Our chance to gouge them back!
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While there are a few hotheads in opec (chavez and Iran) most of them do NOT want to drive prices high enough to encourage the development of alternatives.
If I were them, I would flood the market with $80 oil (which still nets them a lot money) in hopes of nipping this alternative stuff in the bud. In an election year, their actions today might be able to influence US energy policy for years to come.
I also would prefer it stay higher for longer, to help get us off of our collective butt.