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Damage has been done. Doesn't matter how cheap it gets. Foolish to raise prices now, if you push the world into depression, your inviting invasion. /:\
Just wait till OPEC cuts production 20% after their meeting next month. You will see $3.00+ gas again quickly !!
they are cutting each others throat and have huge spending habits to keep pace with. It will be hard for them to cut productions as they mow control a lot less of the market than years ago.
they are cutting each others throat and have huge spending habits to keep pace with. It will be hard for them to cut productions as they mow control a lot less of the market than years ago.
OPEC may announce production cuts, but if the current trend of buying less gasoline continues, it may not make any big difference if there is a cut in production. The market will still be down and oil prices may raise no more than $5 a barrel.
The Middle East OPEC members complain that the loss of profits are hurting their countries, but there certainly are private citizens in those countries that are making (or were making ) tons of money from sales of crude. Look at the Royal Saudi family as an example.
The Chevron station near me went down to $1.65 for 87 octane yesterday. That was a dime drop from $1.75 and two weeks before that, the same station was at $1.89.
What I find sad is that some stations around my area are charging anywhere from .40 to .50 cents a gallon more for 92 octane premium where normal ranges are only a dime a gallon higher for 89 and and another dime for 92. #2 diesel is anywhere from $2.49 to $2.79.
12-07-2008, 07:41 PM
why!!!!!! 
) tons of money from sales of crude. Look at the Royal Saudi family as an example.