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OPEC Asks U.S. to Tap Emergency Reserves

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posted on Oct, 27 2004 @ 09:42 AM
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I think this shows that OPEC is not capable of producing enough finished product at this time, and world demand is driving prices through the roof.
If the US releases the reserve, this will only be a band aide on a bullet hole.

Oct. 27, 2004
Associated Press

JAKARTA, Indonesia - The Organization of Petroleum Exporting Countries has asked the United States to use its strategic petroleum reserves to help reduce oil prices, the cartel's president said today.

Purnomo Yusgiantoro, who is also Indonesia's mines and energy minister, said OPEC would discuss the issue further with the United States. He didn't say whether the Washington had responded to the request.

www.chron.com...




posted on Oct, 27 2004 @ 11:49 AM
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One word. Wow.

At first I thought this article was not credible. Until I found an alternate posting for the news.

OPEC Asks U.S. to Use Oil Reserves Oct 27, 6:46 AM EDT

Of course you may also find these other AP articles of interest

Oil Prices Fall Despite Winter Fuel Fears Oct 27, 11:26 AM EDT

Stocks Rebound As Oil Prices Plummet Oct 27, 12:22 PM EDT

The other articles do not mention OPEC's request, but they are almost certainly related given the times the articles were released.



posted on Oct, 27 2004 @ 09:55 PM
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These people (OPEC) have lost their minds. First, they cut crude production and now they're asking us to use our reserves?

I'm at a loss for words of OPEC requesting us to do anything for them when they've repeatedly ingored our requests to increase their production of crude.

I really believe these people have gone off the deep end this time!



posted on Oct, 30 2004 @ 07:14 PM
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I don't believe it would be wise for the US to start drilling, pumping or selling any more than we normally do at this point. The US doesn't use it's reserves for a reason as we all well know. To allow the Homelands supply to dwindle down at the same rate as the rest of the world, would nor ensure out prosperity in the event a true crisis were to occur. Oil is much more of a strategic resource than you might think. The abilities presented by being the last nation with a large supply are limitless and inspire us to do what we must, to preserve what we have.

Our political enemies sure couldn't oppose us long if we were in control of the worlds only large oil source. Oil very well could what either brings peace to our planet, or causes WW3, either way, the United States is better off controlling the worlds oil.


[edit on 10/30/2004 by SkyFox2]



posted on Oct, 30 2004 @ 07:19 PM
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Originally posted by Intelearthling
These people (OPEC) have lost their minds. First, they cut crude production and now they're asking us to use our reserves?

I'm at a loss for words of OPEC requesting us to do anything for them when they've repeatedly ingored our requests to increase their production of crude.

I really believe these people have gone off the deep end this time!


what are you talking about?... they have increased production to the degree that no spare capacity is left...



posted on Oct, 30 2004 @ 07:38 PM
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Originally posted by SkyFox2
Oil very well could what either brings peace to our planet, or causes WW3, either way, the United States is better off controlling the worlds oil.


[edit on 10/30/2004 by SkyFox2]


Everyone outside the US hates the US for its control. I admit we are jealous but we also are more likely see ww3 than peace because of this. Whos fault? US for its world domination long term aim.



posted on Oct, 30 2004 @ 10:11 PM
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On the topic of oil: Is it just me or is anyone else worried that a billion Chinese people will soon be buying their own cars as China's economy has exploded(thanks to the U.S. buying everything they make....Wal Mart to be exact buys 10% of everything China exports...how strong is that).

But what do you think about that.....as China adopts the western lifestyle, and everyone starts buying their own cars, think of how much oil they will consume in a day!! Our consumption is nothing to worry about...China's consumption is!



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