Posted by David Sherman on Wednesday, January 24, 2007 at 13:13:47 :
In Reply to: Re: Where's the outcry? posted by Ugg (in Uggville) at IL on Wednesday, January 24, 2007 at 10:53:51 :
Of course they're dropping their prices. They have to, finally. OPEC tried to get its members to agree to production cuts at its last meeting, but nobody's doing it. Why should they? The cartel's a great thing to talk about, but at the end of the day, they all want to make as much money as they can and the way to do that is to sell more oil then their "friends" are selling.
I don't know what that Iranian guy's up to. Does he walk around with a "nuke me" sign on his back? From what I've heard, China has most of the Iranian oil production contracted for, so we're not getting anything from there anyway.
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