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| The Pub For General Automotive Related Talk |
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25-10-2006, 04:59 PM
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Regular Member
Join Date: Jan 2006
Posts: 46
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OPEC to Keep Oil Prices Low to Discourage Alternative Fuel Use
October 23, 2006 Michelle Kautz http://www.e85fuel.com/e85101/flexfuelvehicles.php Jefferson City , MO – OPEC announced late last week that they were planning on cutting oil production by 1.2 million barrels per day in hopes to keep costs of crude at about $60 per barrel. This cut is intended to bring the cost of gasoline up a bit but to keep it low enough so as to be more attractive than alternative fuel pricing. “It’s unfortunate that OPEC feels that they can control the vision of this country and the destiny relative to alternative fuels,” exclaimed Curtis Donaldson, Chairman of the National Ethanol Vehicle Coalition. OPEC expects to keep the price of gasoline at about $2.25 per gallon. According to a Foxnews.com news story on October 20, “OPEC's cut also signaled that it would defend a price of about $60 a barrel, high enough to justify its investment in future production capacity but low enough to allow economic growth and deter a flood of alternative fuels.” “OPEC feels that they can manage the price of gasoline to a point where increasing the production of E85 and providing it at more locations across the country will become less attractive." |
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25-10-2006, 05:07 PM
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#2 | ||
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Regular Member
Join Date: Jan 2006
Posts: 87
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well that sucks
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25-10-2006, 05:10 PM
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hmm eyebrows
Join Date: Jan 2005
Location: Lower Hunter Valley, NSW
Posts: 2,393
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As a oil producing nation, is the USA a part of the OPEC cartel? If they aren't and they offset the price of imported crude with locally produced crude, then why doesn't Australia do the same instead of being bent over by OPEC?
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XE 4.9 Falcon S & XA 4.9 Fairmont hardtop |
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25-10-2006, 05:13 PM
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#4 | ||
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Back to the AU
Join Date: Jul 2006
Location: Sydney
Posts: 485
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Surprise surprise.....
Well guess which coutnires are a part of OPEC. For those who don't know, here they are: Algeria Indonesia Iran Iraq Kuwait Libya Nigeria Qatar Saudi Arabia UAE Venezuela This might give you an insight into why they make the decisions that they make.
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2001 Ford AUIII Falcon XR8 Manual - Can't get enough of the AU 2001 VW Bora V6 4Motion - If I squint it almost looks like a Sierra Cosworth |
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25-10-2006, 05:56 PM
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#5 | |||
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FF.Com.Au Hardcore
Join Date: Dec 2004
Location: The Shakey Isles
Posts: 3,428
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Quote:
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25-10-2006, 06:01 PM
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#6 | ||
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Back to the AU
Join Date: Jul 2006
Location: Sydney
Posts: 485
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I always find it amusing that Mr Bush is stuck having to fund the war against him. Poor guy. :gren:
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2001 Ford AUIII Falcon XR8 Manual - Can't get enough of the AU 2001 VW Bora V6 4Motion - If I squint it almost looks like a Sierra Cosworth |
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25-10-2006, 07:23 PM
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#7 | ||
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let it burn
Join Date: Feb 2006
Location: QUEENSLANDER!!!!!
Posts: 2,866
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I just like how, now $60 a barrel makes it viable to invest in oil. Previously, it was the middle East instability that was blamed for prices above $60.
OPEC may money off it, but the Oil companies arent exactly penniless either. |
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25-10-2006, 10:13 PM
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black xb
 
Join Date: Jan 2006
Posts: 1,255
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our government promised us that after the war between iraq and kuwait (in the 90's) fuel prices will drop. just be patient!
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25-10-2006, 10:39 PM
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#9 | ||
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Performance moderator
 
Join Date: Feb 2005
Location: St Clair..N.S.W
Posts: 14,875
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BRING on alternative fuel I say...
Run your own race....
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Real cars are not driven by front wheels,real cars lift them!!... BABYS ARE BOTTLE FED, REAL MEN GET BLOWN. Don't be afraid to try something new. Remember, amateurs built the Ark...Professionals built the Titanic! Dart 330ci block turbo black pearl EBXR8 482 rwkw.. Daily driver GTE FG.. Projects http://www.fordforums.com.au/showthread.php?t=107711 http://www.fordforums.com.au/showthr...8+turbo&page=4 |
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25-10-2006, 11:53 PM
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#10 | |||
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FF.Com.Au Hardcore
Join Date: Aug 2005
Location: Melbourne
Posts: 536
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Quote:
But now realistically, what are the chances Australia would go ahead with its own resource? |
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26-10-2006, 12:02 AM
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#11 | ||
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Long Member
Join Date: Jan 2005
Location: Melbourne
Posts: 218
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OK firstly it's not actually OPEC saying that they're doing this, its Curtis Donaldson, Chairman of the National Ethanol Vehicle Coalition. I don't dispute his assumption though.
Secondly, in their effort to maintain 'good' prices for they're oil, these countries are further justifying the need for independance from the oil driven economy that we live in. But, we all know that nothing is going to change, not in my lifetime atleast, and I'm only 20...
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26-10-2006, 12:32 AM
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Regular Member
Join Date: Jan 2005
Location: the table by the window
Posts: 58
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Quote:
A lgeria K uwait S audi Arabia I ndonesia S audi Arabia U AE V enezuela I ran V enezuela I raq L ibya
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Although pigs are generally good-natured, more people are killed each year by pigs than by sharks. |
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26-10-2006, 04:59 AM
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miss my V8
Join Date: Feb 2006
Location: rollin wit da gnomies.
Posts: 243
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Quote:
LOL  :
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26-10-2006, 05:05 AM
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#14 | |||
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hmm eyebrows
Join Date: Jan 2005
Location: Lower Hunter Valley, NSW
Posts: 2,393
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Quote:
lol, thats probably how dubbya sees all of OPEC 
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XE 4.9 Falcon S & XA 4.9 Fairmont hardtop |
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26-10-2006, 06:35 AM
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Banned
Join Date: Mar 2005
Posts: 2,516
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Quote:
FF |
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26-10-2006, 06:56 AM
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#16 | ||
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black xb
Join Date: Jan 2006
Posts: 1,255
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I stand corrected, you kinda took the wind from my sails there FF!
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26-10-2006, 10:26 PM
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Banned
Join Date: Mar 2005
Posts: 2,516
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It is said 'never spoil a good story with facts'. I never comply to this unwritten rule.
FF |
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26-10-2006, 10:48 PM
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#18 | ||
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XR5 Pilot
Join Date: Dec 2004
Location: Perth, Ex NSW
Posts: 1,455
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Well...America has just had a massive find of oil up north...capable of pumping out somewhere arround 300,000 barrels of oil a day (i think)
Watch as the troops leave Iraq
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'08 Ford Mondeo XR5 in Thunder |
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OPEC to Keep Oil Prices Low to Discourage Alternative Fuel Use
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