Tag: oil production
Gas Prices Too Cheap = OPEC Cutting Production
by Wei Yang on Dec.17, 2008, under Auto Industry, Energy
OPEC
Apparently the decrease global demand for oil and the lowered price has finally struck a nerve with OPEC. Slashing output, OPEC will now reduce its output by 2.2 million barrels a day. While the Saudi’s are looking to sell barrels of oil at a healthy $75 a barrel, the global economic crisis simply will not support that in the short term – and we’re not anxious to get back to that point any time soon.
Here’s an idea, instead of building the next tallest monument that reaches into space, why not help out the big-3 in Detroit by offering incentives for Americans and others to buy gas guzzlers? No, it’s not the most environmentally friendly solution but the point is you have the opportunity to do something to help save your market. Plus, it would show some good faith for many Americans who already have a negative view of OPEC.
It’s obvious the world is trying really hard to get off of the oil drug. If you can’t lend a hand to the companies that help make your products a necessity, what will you do when they fail?
