OPEC chief says oil prices would go higher regardless of supply?

';Oil prices, there is a common understanding that has nothing to do with supply and demand'; says al-Badri.





What do you think of his statement?








http://news.yahoo.com/s/ap/20080420/ap_o鈥?/a>OPEC chief says oil prices would go higher regardless of supply?
i heard that the prices keep going up because so many people keep investing money in it because they think they are going to get rich with big payouts one day.





i think the whole thing is a bunch of bull.OPEC chief says oil prices would go higher regardless of supply?
Al Bahiri did say that they would up production if they thought supply shortages were causing the high prices. I can only think of two other reasons for the price rise...1) the falling value of the dollar, 2) the big oil companies control the transporation and distribution of th eproduct.





Big oil has seen a lot of consolidation. less competition means higher prices.





Falling dollar....hmmm inflation, falling dollar, an economy drained by a protracted war... Remember the Nixon Ford Years. Vietnam dragged on, Kissinger helped the Saudi's form OPEC. the price of gas wnet from twenty five cents a gallon to a dollar a gallon. the price of life savers went from a nickel to 40 cents!!!!





We had wage and price controls. We had WIN buttons- Whip Inflation Now. We had gas lines and rationing.





Any of this sound familiar?
I think that higher prices are exactly what we need. The higher the prices, the higher the demand for alternative fuel supplies.





If this keeps up, we'll be on the bio-fuel standard within 5 years.





I would love to see bio-fuels become mainstream as it keeps fuel money in the USA as opposed to in OPEC's pockets.





Bio-fuels = 1. a new home-grown industry that boosts the US economy, 2. a cleaner earth and air supply, 3. sustainable energy, 4. JOBS!!
The folks in the middle east, and as far as that goes, many here also, believe the cost of oil is a reflection of people who buy and sell large lots of oil, store them in old tankers, and then sell them when the price is right. So when you see the bid price of oil go up, you know there are big money people buying oil that may yet be in the ground, and are forcing the oil price up.
The demand and the supply are both equal


The cost is going up by the stock market speculators





If we want the price to come down then we need to use less.





then the supply would out weight the demand





and the price would drop to lower the supply


.


As long as they balances are equal it won't change.








Clinton 08





McCain 08








NObama ever for America
Don't tell the cons that, they'll just denounce him as a lying lib that doesn't know what he is talking about. They know more about his trade than he does.





Kind of like Mahal up there that think the commodity market is as simple as supply vs demand, when reality dictates otherwise.
OPEC has an agenda to regulate the world's energy supply. Fortunately, our oil industry is more advanced, efficient and competitive than most, so we are still able to get energy at a cost much less than what people in other nations pay.
Well Mad, for once I tend to agree with you.





OPEC controls the oil, so they control the price of oil. They can raise it up to $200 a barrel if they choose.





In my opinion it all boils down to who has whom over a barrel, in literal terms.
oil is going up no matter what. it's because of Greed.


this is what war brings, poverty, sickness, disease.
It's BUSINESS! Pay-up or catch the shoe-leather express!
Could OPEC be the problem here and not the American Oil Companies?





Hummmm?
Hes the head of OPEC, what the heck would you expect him to say?