Oil's top brass talk prices at summit

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=ff280dac8f4742b7&cat=3a8a80d6f705f8cc

DOHA (Reuters) - Chief executives of the world's top oil firms met ministers from the biggest producers and consumers on Saturday as record crude prices of above $75 a barrel added urgency to consumers' calls for more supply investment.

A four-year rally, fueled by disruptions from the oilfield to the refinery gate, has led to bumper profits for Exxon Mobil , Royal Dutch Shell and BP and billions of dollars in oil revenues for producers like Saudi Arabia.

But consumers -- from the world's largest energy user the United States to the developing economies of Africa -- feel vulnerable. Worries over Iran's exports and crises in Iraq and Nigeria have pushed oil to levels that threaten economic growth.


"I expect in the medium term, two to three years, oil prices will remain high," Paulo Scaroni, chief executive of Italy's ENI , told reporters.
more...
Is it me or does this look like a monopoly of Robber Barons...

[BR_Parkway]

1. First thougths on headline - windfall profits tax and monopoly

"I expect in the medium term, two to three years, oil prices will remain high," Paulo Scaroni, chief executive of Italy's ENI , told reporters.

hmmm, that would correspond to Shrub's term (provided he doesn't get impeached first)

[DoYouEverWonder]

2. Ah, the pushers tighten their grip

that's what happens now that everyone is addicted.

Oh you need a fix? That's gonna cost you.

[RUMMYisFROSTED]

3. And "high" it is.

These guys are geniuses.

<curtain, music>

Oilgarch One: "Let's sell for thirty times the cost."
Oilgarch Two: "You're a genius!"

<curtain, fade music>