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Saudi Arabia to Pump More Oil

Discussion in 'U.S. Politics' started by BigRob, Jun 16, 2008.

  1. BigRob

    BigRob Well-Known Member

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    Saudis may pump more oil to curb excessive price

    Could be good news at the pump in the short term.
     
  2. Andy

    Andy Well-Known Member

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    It's questionable how much effect it will really have because demand is going up too. Interestingly this would put OPEC at maximum production... meaning no one can blame OPEC for high prices after this.

    However, the real answer is of course... getting our own oil. If we just get our own oil, we can ignore the world oil market completely. It's that simple.
     
  3. BigRob

    BigRob Well-Known Member

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    Saudi Arabia would still not be at peak production after this increase. I think they are worried about people switching away from oil due to high costs, and with their single good economy that is not good for them at all. They have an interest in keeping oil affordable as well.
     
  4. Libsmasher

    Libsmasher New Member

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    I thought some people here said they were ALREADY at maximum production? What's the MAXIMUM "maximum production"? :D
     
  5. pocketfullofshells

    pocketfullofshells Well-Known Member

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    who said that there where at Max Production?


    But anyway while the amount they pump went up, the value of the $ dropped again I belive so it could be a Wash.
     
  6. Libsmasher

    Libsmasher New Member

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  7. Andy

    Andy Well-Known Member

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    Demonstrating your liberalesk ability to rewrite others words again? If I didn't know any better, I'd think you were a Clinton supporter.
    Allow me to quote myself:


    Note: Other than the Saudis... as in they are not up to their maximum capacity.
     
  8. Andy

    Andy Well-Known Member

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    Most of OPEC is at their capacity. The table clearly indicates that. Once again, Libmasher, acting more and more like the liberals he claims, and fails to mash, is proving his ability to rewrite what people say in order to justify his lame claims.

    I'm done with you again Liblover. Go support Obama or something. They need people to invent straw-man arguments for them to win at.
     
  9. BigRob

    BigRob Well-Known Member

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    Thank you for the clarification. I was unaware of this other post and just took the comments to mean overall production capacity without regards to the quotas that OPEC has in place. Thanks for the clarification.
     
  10. Libsmasher

    Libsmasher New Member

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    Is quota (the amount agreed on for each country at cartel meetings) the same as maximum capacity??

    Noooooooooooooooooooooooo......................................:D
     
  11. Andy

    Andy Well-Known Member

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    Yeah, the production levels over all, are very near OPEC's max production. The specific level Saudi's are at, is about 1 Million barrels off their indicated max. 9.45 Mill verses 10.5. That's still a million off, which is more than I thought, but... I guess we can only wait and see what the crude oil market will do.

    Of course, in just a year or so, Russia and Canada, and hopefully the US will all get more oil wells running. Of course we still have to open more land to drilling... which I'm not holding my breath for.
     
  12. Libsmasher

    Libsmasher New Member

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    He didn't clarify anything. In a discussion with me as to whether OPEC was manipulating the market by controlling supply, he used the unqualified term "maximum" -- from the conversation (go back and look) it was clear that the "maximum" he was talking about was capacity. Now he's trying to backpeddle and change the meaning by referring to quotas, something completely different.
     
  13. BigRob

    BigRob Well-Known Member

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    I don't care if he clarified anything for you. :p
     
  14. Libsmasher

    Libsmasher New Member

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    So you want to walk off more confused than when you showed up? :D Be my guest. ;)
     
  15. BigRob

    BigRob Well-Known Member

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    :D I said from the start I interpreted one way then saw that he clearly meant to mean it in the other way. My confusion has been vanquished :cool:
     
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