I think I agree with OPEC!!

http://news.yahoo.com/s/ap/20080613/ap_on_bi_ge/oil_prices

I thought I heard a reasonable approach to drop it quick would be to dump a big load of the petroleum reserve on the market and then resume filling the capacity after the event. I am not sure but I think the ones to get hurt would be the big holders of oil futures and those who have been speculating. I would have to think through the accounting to make sure we as taxpayers are not getting hammered because of how the Government actually buys or recieves the oil. It may be through tax trade offs.

Lets see-sell oil that the gov't bought at a lesser price and and then replace it in the reserves at a higher price is a good idea?

I like this comment ...

In its monthly market report, the Organization of Petroleum Exporting Countries said oil's recent volatility "reconfirms the view that current price levels do not reflect supply and demand realities.


Ladee da...

That's why regular just hit $4.24 here today up from $4.19 yesterday.
Someones getting rich and it sure as hell isn't the consumer.

George Herschell

roland Wrote:

George Herschell Wrote:

roland Wrote:

Opec is getting nervous about oil selling above the $100.00 a barrel price they are afraid more countries like Brazil and now China will find there own oil reserves and not be importing in the record amounts they were. Brazil also uses an ethanol blend to to further limit the oil use.

Gerry, I am not sure that logic applies here as I said in my original post I don't think they get it with a value applied.

Just a hint.

It's called 'paying lip service', and it doesn't mean a damn thing.

Scott, I am not sure I understand your statement can you clear it up for me.