OPEC To Cut Output

[walkon]

http://www.msnbc.msn.com/id/15218550/

As fearless leader trumpets that "gas prices are down" this news scrolls below his image.

[Waya]

1. Imagine.....

.....my (total lack of)shock.:o

[HereSince1628]

2. Timed so it won't impact election, much.

From Politics & Government course "Principles of Governing as a Dictator 304"..If you can't hack the electronic vote count, at least get yer international cabal of buddies to bounce the economy yer way.

[pampango]

3. In the past changes in OPEC's production has influenced the price of oil

very quickly. The price of gas will adjust very quickly after that.

If that indeed happens, I don't think that it is too late for an increase in the price of gas to negatively affect the GOP. We still have a month to go.

I acknowledge the probable increase in gas prices and its effect on the election, because I would be trumpeting the opposite if OPEC had just increased their production. I would have perceived that as an attempt by Bush or his allies to drive down the price of gas just a month before the election.

[whistle]

4. cut one million barrels a day for a $10 hike in the price per barrel

[OllieLotte]

5. It will only have some impact.

The price has been really high for a long time. I think there is going to be a glut of oil and the price is going to keep falling. Frankly I was shocked it made it to $78.

[bahrbearian]

6. The demand has been going down every year now , the oil glut

is just around the corner.

[NickB79]

7. Demand going down? Any evidence of that?

India and China are both booming economically at 10% growth per year, and even this past summer while gas was over $3/gallon, the US was still using 2% MORE oil than that time last year. In the meantime, Mexico's Cantarell super-giant deposit has peaked, as has Kuwait's oil production, the North Sea's oil production, and Alaska's oil production.

"The oil glut is just around the corner." That's what SUV owners have been chanting to themselves for years now as they rock back and forth holding their pillows at night.

[bahrbearian]

8. I should have put up the Sarcasm icon.. how absurd .

:sarcasm: :sarcasm: :sarcasm: but with newbies you have to be careful

[NickB79]

10. LOL, I'm not even a newbie

Sorry about that, guess I overreacted :-)

[Bozita]

9. SHIT! I was betting on a refinery fire on November 8

One minute after the polls close in Hawaii.