OPEC “Powerless To Bring Down Prices”
For over a hundred years, Big Oil and Bankers have been taking Americans for a ride and they intend to continue to do so, if we allow them to pin the blame on OPEC and US.
"OPEC's not pumping enough!"
"Americans are not buying enough to support increased supply!"
"Environmental regs are too costly!" Bla, bla, bla . . .
Nothing can be further from the Truth.
Ministers from 65 countries, including [the US] and members of [OPEC], will attend the Doha meeting of the International Energy Forum [from] April 22 to 24.
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Britain's finance minister Gordon Brown, speaking in Washington, voiced the thoughts of many consuming nations with a call to OPEC to increase its oil output to rein in prices.
OPEC ministers will hold informal discussions here on April 24 but, with the group already pumping close to the limits of its capacity, it seems powerless to bring down prices.
"The genie is out of the bottle and OPEC cannot put it back into the bottle because OPEC did not take it out," Libya's top oil official Shokri Ghanem told reporters.
He said fears of U.S. military action against Iran, the world's fourth biggest crude oil exporter, had added up to $15 to the cost of a barrel of oil.
"Fears?" It's not fear that's driving this engine - it's GREED!!!
Few expect the latest talks to end a four-year rally, ignited by strong demand from the United States and Asia and underinvestment in energy infrastructure over the past decade."Shared responsibility to invest?!!" Now, I've heard everything!
A global shortage of refinery capacity for transport fuels that must meet tighter environmental regulations and lower supply from Nigeria, Iraq and Venezuela has added impetus.
"The problem is a lack of policy and planning in consuming countries. They have always been concentrating on the financial earnings of oil," one OPEC delegate said.
United Arab Emirates' Oil Minister Mohammed bin Dhaen al-Hamli said consumers and producers bore a shared responsibility to invest in new production and refineries.
Not only are they bleeding us at the pumps, but now they want us to invest in our own demise!
Either that, or give them a money-back guarantee!
Good God! They must be sniffing too much gas!
Consumers want more oil. Producers want to be sure investing in new fields will pay off.
"One side is saying 'guarantee supply' and the other is saying 'guarantee demand'," [said] Algerian Energy and Mining Minister [ahead of the talks.]
"Each one is asking the other to do something he can't unless the other makes the first step. It's a vicious circle."
They want guaranteed profits without any risk -- typical moneylending mentality!
And that's not all . . .
The International Monetary Fund called on Wednesday for the United States, consumer of more than 40 percent of the world's gasoline and a quarter of its oil, to consider raising fuel tax.This is the same IMF that wants our dollar to depreciate and demands countries privatize their water as a condition for loans.
But that idea has few fans in Washington.
The IMF's call on oil producing nations like Saudi Arabia and Russia to eliminate obstacles to investment [to allow nation plundering] is also unlikely to get a positive response any time soon.
"There is no existing international mechanism, other than the world oil market, to address the instability of oil prices," academic John Mitchell said in a recent paper.THAT is NOT the problem!
The PROBLEM is that the "world oil market" is not a FREE market! It's under oligopoly control by Big Oil and Bankers!
Wakeup America - before it's too late.