Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (374503)	3/18/2008 7:00:29 PM
From: TimF	Read Replies (1) \| Respond to of 1573857

Me or my guys against you and your guys. Trade between seller and buyer isn't "me vs. you". Their is competition between sellers for the consumer, and competition between buyers as well, but the actual trade is between a willing buyer and a willing seller, and isn't remotely similar to war or conflict. There is some strong evidence, including their own statements, that they are are pumping to capacity. If they are pumping to capacity, the effect of the cartel on price is next to zero at this time. They can only push to increase the price by lowering the amount of oil they sell to the market. So when the cartel pumping to capacity, they aren't ripping anyone off. "Only a fraction" is a meaningless figure of speech. It could mean 1/20 or 19/20. It varies. I don't know the current percentage. But its no where near 1/20 or 19/20, and it hasn't been near either in my lifetime. Its surprisingly hard to find current market share info. OPEC's own site trumpets their share of oil reserves, but that's not even close to being the same thing. Oil price information, current and historical, is fairly easily available. I guess I'll go about this indirectly. Look at sales from OPEC members, and other sources, and calculate the market share myself. (Even finding that info wasn't as quick as I would have thought it would be). 2007 OPEC Crude production 33.10 million barrels per day 2007 Non OPEC production 44.68 mbpd tonto.eia.doe.gov tonto.eia.doe.gov So the OPEC percentage share was 42%. 42% for some commodities doesn't give you much control over the price. With the short run inelasticity of oil, it can allow you to effect the price, but only by reducing sales.