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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (573)	7/6/2008 6:06:39 PM
From: Road Walker	Respond to of 86355

OPEC president warns no end to oil price rises Sun Jul 6, 6:37 AM ET OPEC president Chakib Khelil warned Sunday that oil prices will continue to rise because of the falling dollar, in an interview in the Algeria-News. "The price of oil will rise again in the coming weeks. We have to follow the evolution of the dollar, because a one percent fall in the dollar means four dollars more on the price of oil," Khelil, who is Algeria's minister of energy and mines, told the independent daily. "As producer countries we think that the current supply is sufficient, that this balance in supply is in everybody's interests and that it shouldn't be disturbed, because the current rise in oil prices is in nobody's interest," the head of the Organisation of Petroleum Exporting Countries stressed. He also commented on the geopolitical effects on the price of oil, notably the crisis between Iran and the West over its nuclear programme and rejected the theory that oil cartel members were against boosting production to put a downward pressure on prices. "I believe that 60 percent of the rise is due to the fall in the exchange rate of the dollar and to geopolitical problems, and 40 percent to the intrusion of bioethanol on the market," he said. "I can affirm that all the (OPEC) countries are in favour of new explorations (of oil reserves), but the fact is that the embargo imposed by Libya has prevented any increase of investment in that country, just as the current embargo on Iran is stopping anyone investing there," Khelil said. "The United States is threatening severe economic sanctions against any group which dares invest in Iran. Similarly, the war in Iraq is why investment there is weak. No OPEC country can invest in embargoed countries."

To: Brumar89 who wrote (573)	7/6/2008 7:03:49 PM
From: RetiredNow	Read Replies (1) \| Respond to of 86355

No. Just tired of arguing with folks that don't see the writing on the wall. It's similar to hitting my head against a wall. No point in doing it. The good thing is that Silicon Valley already gets it and the majority of Americans get it. That is why after Bush is gone, we'll finally get started on a real national energy strategy. So at the end of the day, I don't have to convince you. You can disagree to your hearts content, but it won't make a bit of difference. The world is moving beyond people like you. You will benefit indirectly from that transition, but it's clear you won't be participating in the wealth creation opportunities of that transition. Your loss, not mine.