yardleypa said:
That is wHere I was going it is going to put a lot of oil back on the market but no one wants it at $4 a gallon.Some of these oil dealers may have to sell it below cost to boost their cashflow.The Saudis understand whats going on in the USA that high price are bad they have seen this before Opec does not get it,we need oil but not at any price
Yes, the OPEC ministers (aka Saudia Arabia) know EXACTLY what's going on. When we asked them to boost production, at first they said "NO", but later increased it a little.
Then, when oil prices started to come down, they had a meeting to decide what to do about falling oil prices!!
Gee, I feel bad (NOT)....I guess they can't make enough $$ when it only costs them between $.75 and $1.00 a barrel to pump it out of the ground......hard to believe.
I actually can't wait for them to running to us when another "situation" arises in the middle east that threatens them and they need help.....I hope whoever is in the White House gets some backbone and says the same thing back to them....NO!
C'mon everybody, burn more wood & pellets!