Saudi to quit OPEC?

[devonshiredave]

Hope not a repost but this is a pretty interesting development

http://blogs.moneycentral.msn.com/topstocks/archiv...


gonna be interesting with the russians

[Raffles]

Very interesting. If the OPEC cartel become less powerful oil prices will tumble.

Seeing as they have a huge affect on the price but are very bad at it, this could lead to much greater engery stability. Or it will lead to massive, massive problems.

Interesting times ahead...

ETA -> Any idea why I can't find anything on this on the BBC website? Or anything on www.opec.org ??

Edited by Raffles on Friday 12th September 09:22

[Rocket Pepper]

Then came war!

[james_tigerwoods]

I can find no other articles about this, but it'd be interesting if found to be true....

[devonshiredave]

NY times article linked on that page gives some more details

[VxDuncan]

Still very quiet on the news feeds? Either

- this isn't really big news (surely it is?)
- It's not true
Or
- It's being covered up

I'm confused.

[sneijder]

Bookmarked for developing news with baited breath.

[kingofdbrits]

Watching a BBC programme last night an estimated 1/5 of the worlds oil reserve is in the Arctic Circle that has recently been defrosted by climate change so making it available for us to get to, the Americans and Russian are having a power struggle along with the Scandinavian countries as the area is not owned by anyone. It looks like there will be a lot more oil available soon and with the middle eastern countries pumping at full capacity with dwindling reserves maybe they are positioning themselves to work with whom ever wins the rights to access Arctic oil?

[mondeoman]

Heres a question then ....

How did the oil end up at the Artic? I always understood it came from all them trees n Dinowhatsits. Are they saying that the Artic used to be fully wooded????

[FourWheelDrift]

So was the Antarctic, hot steamy jungles.

Where were the eco-protesters then when the cap iced over killing that wildlife.?

[V8A*ndy]

This could be very true. I could possibly see Kuwait backing Saudi on this, as it all now begins to get really political. Saudi's in general do sound deals and like to play fair in business. It's their reputation.

Also lets not forget who backed kuwait back in 1991. UK USA really needs production to stay up right now and dropping production is just greed on behalf of Iran and Venezuela.

I doubt these two Arab nations will want to ignor the financial needs of the west just right now.

[Mojocvh]

mondeoman said:

Heres a question then ....

How did the oil end up at the Artic? I always understood it came from all them trees n Dinowhatsits. Are they saying that the Artic used to be fully wooded????

the Earth was believed (by REALLY clever people) to have had not only a magnetosphere reversal but some gubbins to do with the mantel(the bit under the crust)causing the planet to roll onto a "new" axis of rotation.

Or summit, ask 5% he seems to know everything.

[tinman0]

mondeoman said:

Heres a question then ....

How did the oil end up at the Artic? I always understood it came from all them trees n Dinowhatsits. Are they saying that the Artic used to be fully wooded????

Artics are big lorries made out of metal and stuff

[nelly1]

mondeoman said:

Heres a question then ....

How did the oil end up at the Artic? I always understood it came from all them trees n Dinowhatsits. Are they saying that the Artic used to be fully wooded????

Clicky...

Edited by nelly1 on Friday 12th September 22:17