OPEC Calls For Calm

[Barchetta]

Further proof that it's dumb azz speculators that are causing this surge in oil prices.

"OPEC's Secretary General on Tuesday appealed for calm, saying the record-high crude oil price was unbearable and did not reflect any shortage of supply in the market."

OPEC chief appeals for calm over oil | Industry Summits | Reuters

Long article, but great read.

[Snowman66]

read the same thing on CNBC,Com also. I don't think Congress reads the news.

[Barchetta]

Originally Posted by Snowman66

read the same thing on CNBC,Com also. I don't think Congress reads the news.

Amen to that! I don't even think they know how to wipe their own azz any more since someone else is always doing it for them.

[Snowman66]

.: United States Senator Ted Stevens :: Newsroom :.

Hey Mark, read that link. Proof of how dishonest or stupid some senators are.

[drstephennix]

It just infuriates me and im sure other people to read that and KNOW that there is plenty of oil and that there is no GREAT demand for it that would drive prices up. Ive been saying all along that there is no big huge demand that is driving the price up, only oil execs and speculators who are. It is pure and simple greed that is driving the price up.

[Clay Henry]

I just heard today that all of our highway projects that were designed to be asphalt, will go concrete because the refiners are no longer (for the moment anyway) producing the binder for the asphalt mixes (which is oil) so they can produce more diesel and thus curb the shortage and lower the price hopefully. Thats good for those buying diesel but it sucks for the aspalt industy.
Just more evidence that the problem lies in the old refineries low capacity.

[Rob]

well hopefuly this will drive prices way down. this is getting way out of hand.......