ninetogo

The OPEC membership met last week to make a decision regarding crude oil production output levels: The decision was split between Saudi, UAE, Kuwait on one side and the balance of the members on the other side of the fence. Saudi and its supporting cast have no interest in cutting production output as pricing falls from over $100 per barrel (42 gallons per barrel) to below $80 per barrel due to a current world glut in supply.

Iran, Brazil, Russia, Venezuela, Mexico, and the other members rely on the revenue from oil sales to support their economy. The reduced crude oil sales revenue is applying financial pressure to the individual economies of the opposing group of countries. I believe that we will see tensions mount between these two groups and the US is the winner.

Click on the attached link and read the current update on global oil, pricing collapse, and the consequences.

http://www.bloomberg.com/news/2014-11-30/oil-at-40-possible-as-market-t***sforms-caracas-to-iran.html

boatbob2

Lets get the ball rolling,by starting to build the pipeline NOW,AND let all those countries,that jacked up the price of their oil,starve.....

ninetogo

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boatbob2:

I absolutely understand your sentiment, but we need to be dumb like a fox. Build out our infrastructure, develop more drilling sites, convert municipal vehicles to propane.......then tell OPEC to go f**k themselves.