Rat's Nest - Chronicles of Collapse Message Board

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Politics : Rat's Nest - Chronicles of Collapse

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To: Wharf Rat who wrote (3077)	11/11/2005 6:14:57 AM
From: manalagi	Read Replies (1) of 24207

Oil prices have come down dramatically the past four weeks. Sales of SUV have picked up again. Will come come down to $ 50? I doubt that very much. Here are the facts: a. At least 2 oil exporter countries are importing oil: Indonesia, an OPEC member, and Great Britain. b. Europe has stopped sending its Strategic Petroleum reserves to the US now that Europe needs to have reserve for the coming winter. This reserve needs to be replenished. c. China and India will be using more oil with the millions of cars produced annually. The cars sold in those two countries are mostly additional vehicles on the road as compared to replacement cars in the US. d. Katrina effect is still felt. Oil companies needs time to get back to pre hurricane levels. e. Has GM stopped making Hummer or has Ford stopped making Expedition? f. Very soon OPEC will meet in Vienna to discuss oil output. OPEC countries are used to windfall revenues, and you cannot stop addiction of higher level of income. g. Psychology, psychology: most people think that oil prices will stay down forever. Wait for December when it will cold in the Northern US and Europe.

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