Saudi Arabia Walks Out On OPEC

[Street_Kings]

Should probably be in world news, but I never, ever read that section.

Anyway, summary is:

OPEC says "cut/slow oil production". Saudi Arabia says "uhm, no." and walks out.

This paired with the Brazil oil fields makes the energy crisis seem not as dire as before.

http://blogs.moneycentral.msn.com/topstocks/archive/2008/09/11/the-death-of-opec.aspx

[myshtern]

very neat

[Deceptakhan]

Haha, fuck you OPEC!

[john]

The only problem is that oil is a finite resource. Good for Saudi Arabia, but we need to take the long view and start converting to whatever sooner than later. Recycle, stop buying plastic, think global and act local.

[Martian]

John no more love your brother hippie talk. God put oil here for us to use freely. :)

[monicle]

The only problem is that oil is a finite resource.

yet noone knows how much there is. there are known oil deposits ecen just in our own country that could support ourselves for the next 60 years or some crap. and new oil is continuing to be found.
it may be finite but its a long way from being gone. technology will advance to replace oil before the oil supply could ever run out. so in all reality the human race is setting limits on oil rather than oil setting limits on the human race.

[chris]

oh yeah, so we may as well just buy hummers then!

[Weston-work]

Time to shower myself in gasoline!

[Deceptakhan]

The only problem is that oil is a finite resource. Good for Saudi Arabia, but we need to take the long view and start converting to whatever sooner than later. Recycle, stop buying plastic, think global and act local.

Agreed. But it sure as hell ain't opec to tell us this or start issuing sanctions to conserve oil.