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Re: What is causing Oil Prices to Drop???

It would not take much longer with OPEC leaders planning to cut back oil production in January by about 2 Million barrels. Russia which is I think the top oil producer after Sudis has already pull back production by 350,000 barrels a day and plans to increase it to 600,000 barrels. These oil rich nations are taking advantage of people because they want to always make BIG profit. In July a barrel of oil was $147 now it is around $50 and Russia is supporting OPEC since lower oil prices means less $$$$$$$ to support Communism. Remember back in 1990 oil was $10 a barrel and OPEC cut production by 4 Million barrels a day. One of these oil rich country is saying they support the cut back in production because their country's 2009 budget was based on oil selling at $75 a barrel. In other words we have to suffer so they can balance their budget.......... BULL CRAP. We need to live too, just my two cents........ Merry Christmas to all
This is CABL.com posting #236237. Tiny Link: cabl.co/m9Cr
Posted in reply to: Re: What is causing Oil Prices to Drop??? by TDD1
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Re: What is causing Oil Prices to Drop??? sab3r 12/17/2008 11:55:00 AM