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View Full Version : Oil production cut... Demand isn't there?



pr0phet
04-18-2011, 10:28 AM
Yep, you heard me right. Prices continue to soar yet the oil rich middle east claims that Oil doesn't have as strong a demand as they would like, so they slashed production. Yet we continue to see prices at the pump rise and rise with no real end in sight.

If this isn't proof that the commodities market has to much power on the US Economy, I don't know how much more power we could give them. This is absolutely absurd.

Yahoo article (http://news.yahoo.com/s/nm/us_saudi_oil)

This world is falling apart. Saudi Arabia claims that there is too much oil on the market, yet prices for oil continue to rise.

Star_Cards
04-18-2011, 10:35 AM
definitely would be better on our wallets if there was more production, but I guess as a business they have the right to decide what they put out to market. I see it similar to when new Apple products come out or like when the Wii came out. Of course I believe they limit production to product more of a hype were as this is just to create higher prices for their product. It's unfortunate that it has such a huge effect on the global economies than not enough iPads do, but it's not like anyone can force them to produce more than they want to. Besides, we've proven that we'll get in line and buy their fuel no matter what. For me I'd think it's just this that is reason enough to find alternate fuel sources. A lot of people want to get hung up on if global warming is real or not, but it's just as important... if not more in the short term, to get from under any company or country that can make such a huge impact on our economy whenever they want to.

pghin08
04-18-2011, 01:23 PM
Yep, you heard me right. Prices continue to soar yet the oil rich middle east claims that Oil doesn't have as strong a demand as they would like, so they slashed production. Yet we continue to see prices at the pump rise and rise with no real end in sight.

If this isn't proof that the commodities market has to much power on the US Economy, I don't know how much more power we could give them. This is absolutely absurd.

Yahoo article (http://news.yahoo.com/s/nm/us_saudi_oil)

This world is falling apart. Saudi Arabia claims that there is too much oil on the market, yet prices for oil continue to rise.

It also has a lot to do with the fact that the dollar is tanking so far in 2011 (though it's rising today). When the dollar tanks, commodity prices of course rise, since the world commodities market is based off the US dollar.

theonedru
04-18-2011, 11:02 PM
Who cares its our fault for relying on oil, an outdated power source. America needs to wake up to the realization that this limited source will run out and when it does what will we do then, besides complain and bicker as usual... Go out and find and USE alternate fuel sources to lighten the need for oil PROBLEM SOLVED. And yes it can be that easy if you put your mind to it And dont let anyone tell you otherwise because they are lying.

beessports0708
04-18-2011, 11:13 PM
algae fuel is the future. just watch lol

Aikman_TheGreat
04-19-2011, 03:59 AM
Please tell me if I'm wrong here, because I've said this NUMEROUS times on here I believe (I'm serious, please correct me if I'm wrong)

Why cant we drill for oil here, AND be seriously researching alternative fuels?

It will lower gas prices, and in time we wont have to rely on oil.

Its almost like cancer research, why find a cure when the cancer researchers and doctors working on cancer make so much money? It would lose them business. So do you think we may actually have a cure already and they just arent telling us? Same with fuels.

BravesFan4Life
04-19-2011, 04:30 AM
that algae fuel thing actually sounds promising...wont really be viable for about 10 years but it could fix all of our issues within 20 years(hey something I will be alive to see fixed)

the Saudis arent stupid, milk us for as much as they can until it hits a point where we bomb the crap out of them for their reserves. Oil will cause wars in the next 5-7 years if we do not figure out something.

theonedru
04-19-2011, 07:24 AM
Please tell me if I'm wrong here, because I've said this NUMEROUS times on here I believe (I'm serious, please correct me if I'm wrong)

Why cant we drill for oil here, AND be seriously researching alternative fuels?

It will lower gas prices, and in time we wont have to rely on oil.

Its almost like cancer research, why find a cure when the cancer researchers and doctors working on cancer make so much money? It would lose them business. So do you think we may actually have a cure already and they just arent telling us? Same with fuels.

We will never see any true research into alternative fuels as long as the Govt is in the wallet of the oil companies, why do you think they can keep raising gas prices and getting away with it.

habsheaven
04-19-2011, 08:44 AM
that algae fuel thing actually sounds promising...wont really be viable for about 10 years but it could fix all of our issues within 20 years(hey something I will be alive to see fixed)

the Saudis arent stupid, milk us for as much as they can until it hits a point where we bomb the crap out of them for their reserves. Oil will cause wars in the next 5-7 years if we do not figure out something.

Food for thought. Canada is the largest exporter of oil to the US, not the Saudis or any other MIddle Eastern country.