On 1/24/07, Marvin Gandall <[EMAIL PROTECTED]> wrote:
Jim Devine wrote:
> it also hurts Russia, Venezuela, and all other high-cost producers.
> (This would include Iraq if it could actually get a significant amount
> of oil on the international market.) Is hurting those countries part
> of SA's plan? It seems that SA may be facing conflicting goals.
>
> On 1/23/07, Yoshie Furuhashi <[EMAIL PROTECTED]> wrote:
>> <http://www.msnbc.msn.com/id/16772560/>
>> NBC: Saudis waging an oil war on Iran?
>> Falling fuel costs probably not a coincidence, oil traders say
==========================
Actually, Venezuela has sided with Iran in calling for production cuts in
OPEC but to my knowledge no one else has,
Algeria also joined Iran and Venezuela. That's just about it.
BTW, will Ecuador and Sudan be joining OPEC? What about Russia?
and if the Chavez and Ahmadinejad
governments believe that the Saudis are manipulating the price for political
reasons, they haven't made it known.
The Saudi oil production plan, as well as the Saudi political view of
Iran, is being discussed all over the place. They would have to be
really deaf not to have heard it. There isn't any quick response that
either or both can come up with, though.
The conventional wisdom, of course, is
that falling demand is to blame, as reflected in this WSJ piece last week,
reporting on the first drop in oil consumption in the OECD countries in two
decades.
There are lots of factors, from unseasonably warm weather (due in part
to climate change) to rates of economic growth, many of which are
beyond the control of oil producers. The issue is what the Saudi
ruling class are doing with the part they do control, their own oil
reserves.
--
Yoshie
<http://montages.blogspot.com/>
<http://mrzine.org>
<http://monthlyreview.org/>
