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Politics : High Tolerance Plasticity
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To: Second_Titan who wrote (5207)6/10/2001 10:13:31 PM
From: energyplay  Read Replies (1) of 23153
 
Not OPEC, but Saudi Arabia - they do have different goals.

There is considerable evidence that Saudi Arabia "assisted" the U.S. in the Cold War by pushing the price of oil down in teh early 1980's, thus denying the Soviet Union much hard currency revenue and helping the U.S. GDP grow to pay for the Carter/Reagan defense build up. The Soviet invasion of Afganistan provided considerable incentive.

Both OPEC and Suadi Arabia need to de-incentivize (read : crush) alternative energy, conservation, and the extensive exploration and development of oil fields. If deposit even 1/3 the size of Saudi Arabia are found in Norhern Canada, Alaska, West Africa offshore, or the Caspian Sea, and they are develpoped, it will really limit the upside for oil prices. The later two (West Africa & the Caspian) may be happening now.

Suadi Arabia also likes to let other members of OPEC know who is top dog, and who has the power to set prices.

Saudi Arabia can get by with a lower oil price than most of it's neighbors...
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