http://news.yahoo.com/s/afp/20080106/bs_af...v5hX1OjbD6s0NUE
High oil price will last until March: OPEC president
1 hour, 7 minutes ago
1-5-8
ALGIERS (AFP) - The high price of oil will continue until the end of March 2008, the president of OPEC said Saturday.
"The surge in price will probably endure until the end of the first quarter of 2008, before stabilising during the second quarter," the Algerian Energy Minister Chakib Khelil -- who is also OPEC leader -- said on the sidelines of a conference on the security of hydrocarbon pipelines in the Algerian capital.
Khelil said a second quarter stabilisation was "probable."
He blamed the current surge in the price of crude on the international markets on the tensions in Pakistan, escalating violence in Nigeria -- Africa's largest producer -- and the reduction in US stocks of crude.
On Wednesday the price of a barrel of crude reached 100.09 dollars (67.85 euros) in New York, before retreating at the close to 99.18 dollars.
Khelil estimated that the oil market is currently "sufficiently supplied" but did not rule out an increase in production by the cartel at its next meeting in February.
That meeting will take place in Vienna on February 1. It will closely study predictions for world economic growth, notably in the US, which has been seriously affected by the credit squeeze from the sub-prime mortgage crisis.
"If a US economic recession takes hold, OPEC is not going to increase its current offering only to be called upon, later, to reduce it," he said.
OPEC, which currently produces 27.2 million barrels per day (bpd), accounts for about 40 percent of world oil output, the rest coming from producers who are not part of the organisation.
At the last OPEC meeting, at Abu Dhabi on December 5, OPEC decided to leave its current level of production unchanged.
Full Version: OPEC president says High oil price will last until March
They will last until we either have a Recession or we stop printing dollars to cover our Nanny State Foreign and Domestic Policies.
Oil Prices have risen in Dollars.
Oil Prices have risen, not quites so fast, in Euros.
Oil Prices have stayed flat in Gold.
This is called Inflation. Our double digit Wholesale Inflation rates are hidden by the "Core" Retail Inflation numbers they like to publish because they are pretty.
Oil Prices have risen in Dollars.
Oil Prices have risen, not quites so fast, in Euros.
Oil Prices have stayed flat in Gold.
This is called Inflation. Our double digit Wholesale Inflation rates are hidden by the "Core" Retail Inflation numbers they like to publish because they are pretty.
QUOTE
Oil Prices have stayed flat in Gold.
This is called a logical fallacy, the price of gold has gone up. Before you just repeat what Paul says you should closely examine it.
QUOTE(Boot @ Monday, 7 January 2008, 10:29 am) 
This is called a logical fallacy, the price of gold has gone up. Before you just repeat what Paul says you should closely examine it.
It's true though, albeit stupid. If we were using gold-based dollars, we would have shipped all the gold in the planet to China by now.
QUOTE(Boot @ Monday, 7 January 2008, 1:29 pm)
This is called a logical fallacy, the price of gold has gone up. Before you just repeat what Paul says you should closely examine it.
The price of Gold and Oil have both gone up when measured in Dollars.
This is because the value of Dollars has gone down.
The Dollar is worth less Intrinsic Value and therefore it takes more of them to buy Gold and Oil.
The more Dollars the FED prints and the more Debt we incur, the less the Dollar will be worth. In this day of Global markets, we create instant Inflation.
I am not repeating what Paul has said. He is saying something similar to what I have been discussing for years. So get over your Paul blaming fetish. And take a logic class and a supply/demand class while you are at it.
QUOTE(Highstreet @ Monday, 7 January 2008, 9:16 pm)
The price of Gold and Oil have both gone up when measured in Dollars.
This is because the value of Dollars has gone down.
The Dollar is worth less Intrinsic Value and therefore it takes more of them to buy Gold and Oil.
The more Dollars the FED prints and the more Debt we incur, the less the Dollar will be worth. In this day of Global markets, we create instant Inflation.
I am not repeating what Paul has said. He is saying something similar to what I have been discussing for years. So get over your Paul blaming fetish. And take a logic class and a supply/demand class while you are at it.
This is because the value of Dollars has gone down.
The Dollar is worth less Intrinsic Value and therefore it takes more of them to buy Gold and Oil.
The more Dollars the FED prints and the more Debt we incur, the less the Dollar will be worth. In this day of Global markets, we create instant Inflation.
I am not repeating what Paul has said. He is saying something similar to what I have been discussing for years. So get over your Paul blaming fetish. And take a logic class and a supply/demand class while you are at it.
Lighten up dude.
Boot hasn't been on your case, or Pauls.
I think you need a vacation.
QUOTE(Highstreet @ Tuesday, 8 January 2008, 12:16 am)
The price of Gold and Oil have both gone up when measured in Dollars.
This is because the value of Dollars has gone down.
The Dollar is worth less Intrinsic Value and therefore it takes more of them to buy Gold and Oil.
The more Dollars the FED prints and the more Debt we incur, the less the Dollar will be worth. In this day of Global markets, we create instant Inflation.
I am not repeating what Paul has said. He is saying something similar to what I have been discussing for years. So get over your Paul blaming fetish. And take a logic class and a supply/demand class while you are at it.
This is because the value of Dollars has gone down.
The Dollar is worth less Intrinsic Value and therefore it takes more of them to buy Gold and Oil.
The more Dollars the FED prints and the more Debt we incur, the less the Dollar will be worth. In this day of Global markets, we create instant Inflation.
I am not repeating what Paul has said. He is saying something similar to what I have been discussing for years. So get over your Paul blaming fetish. And take a logic class and a supply/demand class while you are at it.
Capitalizing Words for no good or grammatical Reason makes You look like a Fucking Idiot and makes Me Less Likely to listen to Anything you have to say.
Saying that oil has stayed flat in gold is no different than saying oil has stayed flat in wheat germ, gold is not a currency, it's a commodity. That's why using it in comparison with the Dollar and Euro is fallacious.
Throwing gold in that comparison was Paul's way of hinting at a return to a gold standard, a Libertarian mainstay.
Throwing gold in that comparison was Paul's way of hinting at a return to a gold standard, a Libertarian mainstay.
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