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History OPEC Oil Cartel

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� Since January 2007, the network news has run 43 stories on oil companies� profits and just three stories on OPEC profits � a ratio of 14-to-1. � Network reporters have referred to oil companies as �a bunch of thieves � ripping people off� and asked them to �cut back a bit on your profit.� But they have overlooked the openly anti-American hostility of some OPEC nations and have downplayed the cartel�s control of world prices. � The networks didn�t mention the cartel�s history of anti-American antagonism, its current leaders� vocal anti-Americanism, or its member ...
With the US actions seen as initiating the oil embargo and the long term possibility of high oil prices, disrupted supply and recession, a strong rift was created within NATO . Additionally, some European nations and Japan sought to disassociate themselves from the US Middle East policy. Arab oil producers had also linked the end of the embargo with successful US efforts to create peace in the Middle East, which complicated the situation. To address these developments, the Nixon Administration began parallel negotiations with both Arab oil producers to end the embargo, and with Egypt, Syria, and Israel to arrange an Israeli pull ...
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Hot Air » OPEC to Obama: Why are you halting offshore drilling?
One organization that should be jumping with joy at the American moratorium on offshore drilling is OPEC.  After all, with a major source of American oil shut down, demand will increase for crude from the trade cartel’s member nations, meaning higher prices and profits.  However, OPEC today declared that Barack Obama had “jump[ed] to conclusions” and should rescind the moratorium: OPEC called Monday on the United States to reconsider a ban on new deep-water drilling that could hold back  oilsupplies — despite safety concerns in the wake of the massive Gulf of Mexico oil spill. Abdalla Salem El Badri, ... market research, surveys and trends


History of OPEC
Sep 1, 1998 ... The purpose of OPEC, as with any cartel, is to limit supplies in the hope of .... percent (Yergin 1991). As Table 4 shows, oil revenues for OPEC members plunged after 1981. ... $20.0 billion in 1986. History of OPEC ... industry trends, business articles and survey research
OPEC Takes Steps to Cut Oil Production -
oil cartel said it would reduce its oil production by about half a million barrels a day in a bid to stem a rapid decline in oil prices in recent weeks. In the short term, the strategy appeared to be working. Oil rose more than $1 a barrel in New York trading on Wednesday, rising above $104.30 a barrel. Still, oil prices remain near a five-month low.The outcome of the meeting, which ended around 3 a.m. this morning, represented a significant loss for moderate OPEC producers like Saudi Arabia, which had argued for the group to keep producing at full tilt. But fears that the market was currently oversupplied while demand for oil ... industry trends, business articles and survey research
Oil prices slip as storm set to avoid energy platforms in Gulf of Mexico
NEW YORK: Oil prices fell on Monday as tropical storm Alex appeared on course to spare energy platforms in the Gulf of Mexico, easing supply concerns that have underpinned prices. New York's main contract, light sweet crude for delivery in August, closed at 78.25 dollars a barrel, down 61 cents from Friday. London's Brent North Sea crude for August slid 53 cents to settle at 77.59 dollars. The market kept a watchful eye on Alex, the first major storm of the Atlantic hurricane season, as it entered the Gulf of Mexico. "Tropical storm Alex most likely won't be much of a problem for BP as its track is far south ... market trends, news research and surveys resources
World needs Gulf of Mexico's oil, says BP
Oil production in the Gulf of Mexico has become a much more significant part of meeting the world's energy needs, raising the stakes for decisions on the future of deep-water drilling in the region in the wake of the biggest oil spill in history. The figures are contained in the survey of energy production, consumption and reserves which is published annually by BP. In the latest bulletin, covering 2009 and published yesterday, BP's chief executive, Tony Hayward, set out what amounted to some home truths for environmentalists fighting to reduce the world's dependence on fossil fuels. "Let me name just ... market trends, news research and surveys resources


Testing for the cartel in OPEC: noncooperative collusion or just ...
case of a cartel (OPEC) faced by a competitive fringe (non-OPEC oil producers). ... the history of crude oil prices since the formation of OPEC suggest ... technology research, surveys study and trend statistics
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Why did oil prices go down after OPEC made the decision to cut ...
HOUSTON, Oct. 23 -- Crude prices pulled back slightly Oct. 22, still influenced more by the fluctuating value of the US dollar than by market fundamentals of supply and demand. “Oil prices slowed down, put the car in neutral, and let a stronger dollar push it downhill just a little bit, as oil traded marginally lower,” said analysts in the Houston office of Raymond James & Associates Inc. “Oil was helped by the Dow [Jones Industrial Average]'s return to 10,000-plus but was weakened after comments from the Organization of Petroleum Exporting Countries led to speculation that its members will agree to increase production at ...
Can Saudi Arabia and OPEC cartel destroy America? - Yahoo! Answers
Lobbying in congress is corruption in other countries. Here in the U.S. it is normal business. "Where in the world would a lobbyist tell a congressman or a senator to pass a law in exchange for a gift, money or in kind and it is not a sin or against the law?" 2 years ago Do you think Saudi Arabia is our friend like what Bush says? 2 years ago To dadvice1: So you think every interest group has a right to lobby congress and this is done by greasing the pockets of the American legislators? Because there is the right to petition for your cause - this right should not be stifled even if the means to accomplish this is thru bribery? ...