OT: OPEC

[Atrocities]

Well it is offical, OPEC will be cutting production by at least a million barrels a day starting this week. Expect the prices to go through the roof for a gallon of gas by the end of the week.

Some forcast $2.25 or more for regular UL and well over $2.50 a gallon for Super by the beginning of summer months. (June)



This is going to hurt our economic recovery and further deepen the depths of despair for those who have already lost everything do to this economy.

This does not boad well for our pocket books.

[Baal]

[ April 01, 2004, 03:28: Message edited by: Baal ]

[Atrocities]

Baal what happened?

[Captain Kwok]

Oh, stop your crying and be thankful that the US still has one of the lowest average gas prices in the world.

Or take the bus...I hear Portland has a good mass transit system.

[rextorres]

OPEC deals in dollars and because the dollar is so weak and interest rates are too low they need to raise prices to make up for their shortfalls - it's called inflation.

It's a really dangerous situation because these nations also loan us money to fund our deficit spending so you won't see any real pressure exerted just like you won't see any thing done about outsourcing. That's part of the reason why deficits are so bad.

[newbie123]

Come on hydrogen cars. Their like 15 years(probably more) off but I can dream can't I