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This is why we don't need drill baby drill - they plan on holding the gas prices high

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2Design Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-09-08 04:54 PM
Original message
This is why we don't need drill baby drill - they plan on holding the gas prices high
http://www.ft.com/cms/s/0/45f8bc18-95dc-11dd-9dce-000077b07658.html?nclick_check=1

Alarmed by the rapid retreat in prices from a record of $147.27 reached in July, almost half the cartel’s members have called for action to halt the slide before their next official meeting in Algeria in December.

Olivier Jakob of Swiss-based consultancy Petromatrix said: “Be it in November or in December, be it formally or informally, Opec will need to reduce production, not because the price is currently too low but because there is not enough demand.”

Wednesday brought further evidence of demand weakness in the US economy, with the government reporting that total consumption of refined products averaged 18.66m barrels a day last week, down 8.6 per cent against the same period a year ago.
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taterguy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-09-08 04:56 PM
Response to Original message
1. We'll need to drill eventually if people want to keep driving
I don't but I'm in the minority
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Chevy05truck Donating Member (17 posts) Send PM | Profile | Ignore Thu Oct-09-08 05:24 PM
Response to Reply #1
2. Drill!
Create jobs building the equipment and jobs on the boats searching and drilling plus the oil WE produce stays with American companies and keeps the money here!
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wuushew Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-09-08 06:05 PM
Response to Reply #2
5. Fossil fuels are harmful to humanity and the environment
Kicking the problem into the future just makes the pain of withdrawal more severe.

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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-09-08 05:50 PM
Response to Original message
3. I paid 3.26 per gallon...
in Colorado Springs.
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Hawkeye-X Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-09-08 05:55 PM
Response to Reply #3
4. Gas in Denver is about the same at its lowest..
I'm sure if I head to Aurora, it'll be around $3.14

Hawkeye-X
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