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$audi October $urprise -- oil prices to drop just before election

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johnfunk Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 06:24 PM
Original message
$audi October $urprise -- oil prices to drop just before election
Woodward on 60 Minutes: Prince Bandar promised Bush generous oil price drop before 2004 election in return for Saddam Hussein's ouster.

House of Bush, House of Saud... same difference
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 06:27 PM
Response to Original message
1. Now we know..
why they are so unwilling to take any action against SA.
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markses Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 06:28 PM
Response to Original message
2. Now the fevered attempts to oust Chavez in Venezuela come into focus
For the Saudi plan to work, OPEC must approve; is Chavez hip to this, and working behind the scenes to nix OPEC approval?
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:06 PM
Response to Reply #2
6. Definitely ringing some bells here.
Must it be unanimous (sp?)?

Perhaps the African countries would vote against it as well?

We can only hope--this is all the great uninformed need to re-select the Chimp.
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xultar Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 06:38 PM
Response to Original message
3. OK is this SHIT gonna start ringing some BELLS or something?
How is this gonna play wide in the media?
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:07 PM
Response to Reply #3
7. We probably have to push them to report it.
It's too obvious.
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cliss Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 06:57 PM
Response to Original message
4. Exactly what effect will that have?
It's a well-known fact that OPEC raised the prices earlier in the year because they knew they could. That's the nature of cartels. I've read that they will raise them even higher just before summer vacation, just in time for people taking off in their cars.

Believe me, the temperatures won't be the only things that are soaring this summer. People will be pissed at the pump. So then prices are expected to drop right before the elections this winter.

So what? The only thing that I predict is that people will be able to put

2 + 2 together = price fixing by the criminal BFEE
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blondeatlast Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:17 PM
Response to Reply #4
8. But Joe and Jane Smith just aren't that aware.
I hate to say this, but I think you give the electorate far too much credit.
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porkrind Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 06:58 PM
Response to Original message
5. time to place options on oil? (n/t)
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Selwynn Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:18 PM
Response to Original message
9. Yup - this is it.
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bigtree Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:18 PM
Response to Original message
10. The price help is coming from an unraveling of the production cut pledges
Market Watches As Some OPEC Members Sidestep Output Pledges
http://www.slb.com/news/story.cfm?storyid=616309

OPEC's high-profile plan to implement output cuts from April 1 is fast coming loose, as leading members from the Gulf region appear to be sidestepping their agreement to reduce production, as far as supplies to Asia are concerned, traders said Tuesday.

Qatar has become the latest Middle East member of the Organization of Petroleum Exporting Countries that won't be fully contributing to a collective 1 million-barrel-a-day output cut agreed on late last month.

Saudi Arabia notified Asian term lifters that it would roll back a 12%-13% supply cut and allocate full contractual volumes for May.

. . . weak compliance to individual quotas is "leaking" production to the tune of 1.5 million to 1.7 million b/d, undermining the organization's efforts to shore up prices and ratchet back output to cope with a traditional second quarter seasonal downturn in demand.


Kuwait Says May Up Oil Output If Prices Stay High
http://www.slb.com/news/story.cfm?storyid=616359



Qatar was an early supporter of the invasion. Kuwait . . .
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:34 PM
Response to Original message
11. That would make sense.....
If they raise the prices for a few months, they can make enough profits to make up for the "shortfall" when they lower the prices about 3 months before hte election, in time ot influence the economy in a positive way. The deal has already been made, it appears, from the price of gas today??
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SarahB Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 07:56 PM
Response to Original message
12. Would this be enough though?
Even if it happens, with the current state of unemployment and underemployment, would it make a huge difference overall?
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icymist Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 08:09 PM
Response to Reply #12
13. It'll be too little, too late....
People remember hard times longer than good times. This administration has the foresight of the coyote on the roadrunner cartoon.
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powergirl Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-18-04 08:11 PM
Response to Original message
14. ISN'T THIS ILLEGAL
I don't want to hear another word about Buddhist monk campaign donations. Maybe Prince Bandar was on Cheney's "energy task force." Those jerks - Congress has got to do something. We can't let them get away with sending our men and women to die so that Cheney can drive his HumV around his Wyoming ranch. God help them.
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