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 : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: steve dietrich who wrote (128667)	7/14/2008 12:56:21 AM
From: d[-_-]b	Respond to of 173976

OPEC could/would easilly offset any production increase from the U.S., no net difference in world supply, no difference in price. This is the reason oil companies while having leases are slow to develop them knowing they are unlikely to find a large enough reserve that OPEC cannot undercut them. They want to explore in the OCS and ANWR because they believe they can find an economically viable large reserve(s) which lowers their lift cost and protects them from OPEC pricing - they pulled this stunt in the 70's and 80's and they remember.

To: steve dietrich who wrote (128667)	7/14/2008 4:57:21 PM
From: Brumar89	Respond to of 173976

They could in theory. However for several decades there's been only one swing producer willing to raise or lower exports - Saudi Arabia. There ability to do this in the future is unknown. Lots of people think they don't have such capacity anymore. They have one big field - Ghawar - that produces a majority of their production. Its an old field and experts debate when it will reach its peak and begin an inevitable inexorable decline.