Comments on: It’s time to talk down the price of oil http://nataliemedia.com/serendipity/2007/11/04/it%e2%80%99s-time-to-talk-down-the-price-of-oil/ A reasoned voice on politics, faith, the media, and Erie, PA regional issues. Wed, 05 Oct 2011 17:48:07 +0000 http://wordpress.org/?v=2.9 hourly 1 By: richardz http://nataliemedia.com/serendipity/2007/11/04/it%e2%80%99s-time-to-talk-down-the-price-of-oil/comment-page-1/#comment-96 richardz Mon, 05 Nov 2007 14:41:44 +0000 http://nataliemedia.com/serendipity/2007/11/04/it%e2%80%99s-time-to-talk-down-the-price-of-oil/#comment-96 I think these fears of investors and OPEC are largely unfounded but are useful for keeping prices jacked up. Case in point, when these fears never materialize (and they almost never do) you never see a reverse reduction or discount in oil prices. They always return to "normal" with absolutely no adjustment. These people merely pocket the cash. NPR had an interesting segment discussing the "sweet spot" in crude oil pricing for various countries. Saudi Arabia for example, cannot sell a barrel for less than $45 (I believe) since the nation's spending behavior can't continue below that price. It really is a convoluted scheme but greed seems to be the hallmark. I think these fears of investors and OPEC are largely unfounded but are useful for keeping prices jacked up. Case in point, when these fears never materialize (and they almost never do) you never see a reverse reduction or discount in oil prices. They always return to “normal” with absolutely no adjustment. These people merely pocket the cash.

NPR had an interesting segment discussing the “sweet spot” in crude oil pricing for various countries. Saudi Arabia for example, cannot sell a barrel for less than $45 (I believe) since the nation’s spending behavior can’t continue below that price. It really is a convoluted scheme but greed seems to be the hallmark.

]]> By: Dennis http://nataliemedia.com/serendipity/2007/11/04/it%e2%80%99s-time-to-talk-down-the-price-of-oil/comment-page-1/#comment-95 Dennis Mon, 05 Nov 2007 13:39:03 +0000 http://nataliemedia.com/serendipity/2007/11/04/it%e2%80%99s-time-to-talk-down-the-price-of-oil/#comment-95 Last week, crude oil inventories fell 3.9 million barrels. If the oil companies can't buy enough at $90, the price sure isn't going down. The Energy Department's Crude Oil Inventory report is released at 10:30 am each Wednesday. That's a great indication of where the price is going. Last week, crude oil inventories fell 3.9 million barrels. If the oil companies can’t buy enough at $90, the price sure isn’t going down.

The Energy Department’s Crude Oil Inventory report is released at 10:30 am each Wednesday. That’s a great indication of where the price is going.

]]> By: jerry http://nataliemedia.com/serendipity/2007/11/04/it%e2%80%99s-time-to-talk-down-the-price-of-oil/comment-page-1/#comment-94 jerry Mon, 05 Nov 2007 12:31:28 +0000 http://nataliemedia.com/serendipity/2007/11/04/it%e2%80%99s-time-to-talk-down-the-price-of-oil/#comment-94 It might help a bit if the U.S. were to announce that it was confident of its current inventory and stop adding to the strategic reserve. That it is still stockpiling oil at these prices is insane anyway. It might help a bit if the U.S. were to announce that it was confident of its current inventory and stop adding to the strategic reserve. That it is still stockpiling oil at these prices is insane anyway.

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