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phantom power

(25,966 posts)
Wed Aug 29, 2012, 11:21 AM Aug 2012

G-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 it’s 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 IEA’s 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
Ohh..so THAT's all we have to do. dixiegrrrrl Aug 2012 #2
The Arctic just opened up... Junkdrawer Aug 2012 #3
It feels like we've all made an unconscious collective decision GliderGuider Aug 2012 #4
Remember during the 70s when the pastime was to find ice skulls in the whiskey/vodka ads? Junkdrawer Aug 2012 #6
ok...there is that.. dixiegrrrrl Aug 2012 #5
Any economist will tell you that increased demand creates increased supply. Speck Tater Aug 2012 #7
"Ya see that cliff edge ahead? ..." Nihil Aug 2012 #8
Because if we "fly" of, instead of drop off, Bigmack Aug 2012 #9

dixiegrrrrl

(60,010 posts)
2. Ohh..so THAT's all we have to do.
Wed Aug 29, 2012, 12:25 PM
Aug 2012

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.

 

GliderGuider

(21,088 posts)
4. It feels like we've all made an unconscious collective decision
Wed Aug 29, 2012, 03:27 PM
Aug 2012
"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?
Wed Aug 29, 2012, 04:44 PM
Aug 2012

Luxury cars ads have that feel nowadays.

 

Speck Tater

(10,618 posts)
7. Any economist will tell you that increased demand creates increased supply.
Wed Aug 29, 2012, 05:31 PM
Aug 2012

It's magic. The invisible hand has these God-like powers, don't ya know.

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