Tuesday, February 24, 2009
Arab oil - destructive power to US economy
Arab oil and US economy
Arab oil and the US economical crisis
Manraaj Singh Editor Profit Hunter: 'Arab Oil Wealth To Dwarf US Economy!' [Apr 29, 2008] [1].
Walid Phares (Oct, 2008): 'OPEC manufactured the financial meltdown' [2].
Notorios businessman Donald Trump Blasted Oil Prices and OPEC July 30th, 2008 “Oil (costs) is what is killing the world’s economy,” Observers say if the U. S. would rattle its own domestic oil supply saber it would shock the market and costs would plummet. Oil experts say the U. S. could be free of Middle East imports in less than 3 years. [3], he blasted major oil producing countries for the current recession and accuses large oil companies of "doing a major number" on everyone. [4], it’s the price of oil that is to blame, OPEC and the Saudi Arabians [5], on Feb. 4, 2009: "As far as the economy is concerned, though, I'm afraid that if and when the economy does get going, you'll have OPEC raise its ugly head and come out and just raise oil prices again and kill it, because I think that OPEC had a lot to do with the failing of the world economy." [6].
US president Barack Obama in his speech on February 24, 2009 said: The fact is, our economy did not fall into decline overnight. Nor did all of our problems begin when the housing market collapsed or the stock market sank. We have known for decades that our survival depends on finding new sources of energy. Yet we import more oil today than ever before. [7].
Tags: Arab control, Arab league, Arab lobby, Arab oil, Arab states, Arabism, Arabs, Bahrain, Chavistas, crisis, dictator Chavez, Donald Trump, Dubai, economy, gulf states, Hugo Chavez, Iran, Iraq, Islamic Lobby, Islamic oil, Islamism, Kuwait, Libya, Muslim control, Muslim lobby, Muslims, oil producing countries, OPEC, Palestine, Palestinians, Saudi Arabia, Saudis, stimuluos plan, Trump, uae, Venezuela, US,US economy,wall street
Labels: arab oil, control, economy, OPEC
Friday, February 06, 2009
Donald Trump Blames Arab, Muslim (& Venezuela's dictator Hugo Chavez) oil for Economic Crisis
Donald Trump blames Arab Oil for the world crisis
Trump: There's Too Much Oil newsmax.com ^ July 29, 2008 staffReal estate mogul Donald Trump says there is way too much oil in the worldto justify the current high market prices. "Frankly, I hear there are tankersall over the world that are loaded up to the gills with oil," he told CNBC."They have so much oil they don't know what to do with it. It's ridiculouswhat's going on with OPEC and all of that." Trump blames major oil producingcountries for the current recession and accuses large oil companies of "doing amajor number" on everyone. Trump lauds the recent dips in the price of oil,...http://moneynews.newsmax.com/streettalk/oil/2008/07/29/117281.html
Donald Trump Says – it’s the price of oil that is to blame by Ruth ...Sep29, 2008 ... He said now the price of oil will plunge - possibly back down to apossible ... Trump blames the downturn on OPEC and the Saudi Arabians. http://www.gather.com/viewArticle.jsp?grpId=-1&articleId=281474977462847
As far as the economy is concerned, though, Larry, I'm afraid that if andwhen the economy does get going, you'll have OPEC raise its ugly head and comeout and just raise oil prices again and kill it, because I think that OPEC had alot to do with the failing of the world economy. (Feb. 4, 2009)http://transcripts.cnn.com/TRANSCRIPTS/0902/04/lkl.01.html/04/lkl.01.html
Labels: arab oil, economy, OPEC
Tuesday, July 15, 2008
Exclusive: OPEC: A Recurring Nightmare
Exclusive: OPEC: A Recurring Nightmare
Family Security Matters, NJ - Jun 23, 2008
OPEC, acronym for The Organization of Petroleum Exporting Countries, was founded in Baghdad on September 14th, 1960, ostensibly to bargain and negotiate the sale of oil to the West by Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela….
They sound just like another commercial fraternal organization, but with the exception of Venezuela and a bizarre on again/off again romance with Ecuador, all member states are Muslim and the bulk of the oil reserves, estimated to be more than three quarters of the entire world’s, are located in the Arab Middle East….
Saudi Arabia and OPEC cohorts don't just hold us over a barrel of oil. They fund and control radicalized Middle East departments in major Universities …
http://www.familysecuritymatters.org/publications/id.437/pub_detail.asp
Labels: Arab lobby, arab oil, arabs, control, economy, energy, foreign policy, Iran, muslims, oil, OPEC, power, radical Islam, Saudi Arabia
Monday, July 14, 2008
(Arab Muslim dominated) OPEC's policies spurring price hike
Dailyrecord.com, NJ - Jul 5, 2008
While it is true that the United States gets most of its oil from non-Arab countries, it is in fact the Arab oil-producing nations that are driving up the price.
He states that the "price of oil is dictated to a large extent by U.S. oil companies." That is not the case.
OPEC, the Organization of Petroleum Exporting Countries, is a cartel of 12 member nations, with all but one, Venezuela, a Middle Eastern country. A cartel is, according to the American Heritage Dictionary, a combination of independent business organizations formed to regulate production, pricing and marketing of goods by the members. OPEC has for the first time since its creation in 1960 been acting like a real cartel. Formerly, cartel members would ignore regulated production goals established and pump more oil. More oil meant more supply.
The larger supply would keep the price down worldwide. Now we are seeing member nations holding firm to established production goals. In other words, while everyone, including President Bush, is asking them to produce more, they are not. The cartel is working.
The concepts of supply and demand are not sexy, but they certainly apply to the price of gasoline.
We learned in Economics 101 that price balances the supply to the demand. Look at it this way: Local farms are now harvesting their strawberries. One way to get these strawberries sold instead of going rotten is to lower the selling price. The local supermarket will sell many more quarts of strawberries at $2.50 as opposed to $3.99. The farmers might get a lower price, but they are not left with rotten fruit. Everyone wins in this scenario: Consumers get a lower price and farmers sell their harvest.
Would the local supermarket have any strawberries in stock in October if the price remained low when the supply from South America was one quarter what it is now? Go to the head of the class if you say your local supermarket would not have any strawberries in stock if the price was $2.50. They would sell out too quickly for the inventory to be replenished.
OPEC produces almost 36 percent of the world's oil. When any organization or company or country controls over a third of production, it effectively controls price. All one has to do is look at how Medicare/Medicaid price fixing has affected upward the cost of medical care to understand this.
Couple OPEC's regulated supply with the growing demand for oil worldwide and you see something discussed in your Economics 101 class: When demand goes up and supply does not change, the price will go up. It doesn't matter if you are talking strawberries or oil. Since 1999 worldwide demand for oil has grown 13 percent, led by the increased demand from China and India, both of which have almost doubled demand in that period.
So while it is true the Arab oil-producing nations are not the United States' majority supplier of oil, a group of them, OPEC, does produce over a third worldwide, thus significantly affecting the price worldwide. Maintaining cartel supply production goals has driven worldwide prices up. We do not live in a vacuum; there are other countries using oil and other producers, OPEC for example, supplying to the worldwide market.
It is true when Assaf says "(a) solution to skyrocketing gas prices is to for each of us to use less fuel"; I wonder if he means China and India as well?
Supply and demand is not a sexy topic, but these concepts affect life every day and have done so for centuries. Investments in U.S. Treasury bills do not set price; the balance between supply and demand does.
Mike Sabella is a resident of Budd Lake.
http://www.dailyrecord.com/apps/pbcs.dll/article?AID=/20080704/OPINION03/807040302/1096/OPINION
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Labels: arab oil, economy, energy, oil, OPEC
