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Environment & Energy
Related: About this forumG-7 Countries Call for Increased Oil Output to Meet Demand
addiction is a terrible thing
The Group of Seven nations called on oil-producing countries to increase output and is monitoring the threats to their economies posed by high oil prices, according to a joint statement issued today by the U.S. Treasury Department.
We remain vigilant of the risks to the global economy, the G-7 said. In this context and mindful of the substantial risks posed by elevated oil prices, we are monitoring the situation in oil markets closely.
The G-7 said its prepared to call upon the International Energy Agency, a 28-member group of oil consuming countries, to take appropriate action to ensure that the market is fully and timely supplied. The IEAs countries made available 60 million barrels of crude and oil products in June 2011 after Libyan output was disrupted by an armed uprising against Muammar Qaddafi.
http://www.bloomberg.com/news/2012-08-28/g-7-countries-call-for-increased-oil-output-to-meet-demand.html
We remain vigilant of the risks to the global economy, the G-7 said. In this context and mindful of the substantial risks posed by elevated oil prices, we are monitoring the situation in oil markets closely.
The G-7 said its prepared to call upon the International Energy Agency, a 28-member group of oil consuming countries, to take appropriate action to ensure that the market is fully and timely supplied. The IEAs countries made available 60 million barrels of crude and oil products in June 2011 after Libyan output was disrupted by an armed uprising against Muammar Qaddafi.
http://www.bloomberg.com/news/2012-08-28/g-7-countries-call-for-increased-oil-output-to-meet-demand.html
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G-7 Countries Call for Increased Oil Output to Meet Demand (Original Post)
phantom power
Aug 2012
OP
they cant build a ski resort in the middle of a dessert by giving the oil away
leftyohiolib
Aug 2012
#1
Remember during the 70s when the pastime was to find ice skulls in the whiskey/vodka ads?
Junkdrawer
Aug 2012
#6
leftyohiolib
(5,917 posts)1. they cant build a ski resort in the middle of a dessert by giving the oil away
dixiegrrrrl
(60,010 posts)2. Ohh..so THAT's all we have to do.
Just ask oil producing countries to give us more oil, and *snap* it will appear.
Here I thought there was some truth to peak oil, but apparently all these wise folks of the G-7 have stumbled on the
REAL solution.
Junkdrawer
(27,993 posts)3. The Arctic just opened up...
Hell on earth just can't come fast enough.
GliderGuider
(21,088 posts)4. It feels like we've all made an unconscious collective decision
"Let's just get it over with, already!"
Junkdrawer
(27,993 posts)6. Remember during the 70s when the pastime was to find ice skulls in the whiskey/vodka ads?
Luxury cars ads have that feel nowadays.
dixiegrrrrl
(60,010 posts)5. ok...there is that..
Speck Tater
(10,618 posts)7. Any economist will tell you that increased demand creates increased supply.
It's magic. The invisible hand has these God-like powers, don't ya know.
Nihil
(13,508 posts)8. "Ya see that cliff edge ahead? ..."
"... If we *really* accelerate hard, we might survive! "
Bigmack
(8,020 posts)9. Because if we "fly" of, instead of drop off,
we'll hatch wings and become angels? Ms Bigmack