Originally Posted by
JDriver
This is how the oil cartel members can make prices go up:
I have been flying over UAE several times a week now. There are literally hundreds of ships sitting at anchor. Not one ship is at the dock. It has been this way for a couple of months now. It would appear from the untrained eye that they are trying to reduce the supply to possibly result in an increased price.
Now Dubai World cannot pay its bills.....
Again, just an observation. Discuss.
In the UAE and Kuwait, many of the pumping stations are actually away from the dock...just a pipe coming out of the water so more ships can fill at the same time. Dubai is a banking center not a major oil exporter. OPEC does place liits on how much oil each country can produce but Saudi Arabia and other regularly exceed their quota. Keeping production down keeps the prices higher but there is a point when high prices drive reduced consumption.