why does OPEC run america oil supply? N dekota has 8-times as much oil as Saudi Arabia

why is it that OPEC can strangle america with high oil prices when america has more oil in the ground onshore than any other country?
the economy of america is being destroyed by high oil prices (other things as well).
the land under your feet is massive amounts of sweet light crude oil just sitting there why?
why is america importing MASSIVE amounts of oil at MASSIVE prices when there is more oil than the entire known supply combined?

this is going to destroy your economy unless you tell OPEC we will provide competition if you dont lower the price per barrel.

americans need to know this info

usgs web site 2008 note a mach larger estimate is in the billions of barrels costing $12 a barrel


so america why are you hostage to OPEC?

xploder

reply to post by XPLodER


Think about it. When you were a kid and you got back from trick 'or treating did you eat your own candy first or your friends? We are holding to our own oil supply until we use up the rest of the worlds supply. It makes sense in theory. The problem is (like you mentioned) our country is losing trillions in the process.

If I'm not mistaken. It's the cost of getting it out of the ground that's the issue.
It's cheaper to import than to get it out of the ground.

And we get to use their oil before we use ours. So when they run out we still have some.

Makes evil sense.

OPEC does not run the oil supply.

Traders & Speculators in NY control the supply of oil, price oil, who get the oil, every part of the oil market.

I know the TV talking heads have put it in the American mind that the OPEC nations are in control but that is a lie.

In your OP you eluded to this fact by saying N Dakota has more oil etc. You see the lie we have been told about oil, peak oil, the oil industry.

And what happens to Saudi when they run out of oil?

Back to tents and camels?

They have a monopoly on it. It's all a scam. All of it dealing with oil. youtube "Water powered engine".
Why does a car from 1985 have better mileage than a car from 2005? It's a scam.

reply to post by freedish


what you are talking about is strategic oil supplies
what im talking about is an oil reserve that has been hidden not for strategic reasons
but to allow opec to make huge sums of cash
there are strategic oil supplies in texas and many other states

im not suggesting you export the oil
im suggesting you use the oil as competetion to opec to force fair prices
us $16 dollars a barrel
OPEC %100 dollars a barrel

no competition = OPEC raping the us customer
competition = lower, fair oil prices

xploder

reply to post by brokedown


when the truth comes out (if it does) you will realize that domestic competition will create an environment where oil prices fall
yes speculators are to blame for some of the price but
oil in plentiful supply = price drops
oil in declining amounts = price rises

opec undersupplying = price rise

= opec control (not speculators) they just add to the overall price

xploder

Originally posted by forklift
And what happens to Saudi when they run out of oil?

Back to tents and camels?

edit on 18-1-2011 by forklift because: (no reason given)

and why have strategic oil supplies
if your country collapses?
why hide the oil untill OPEC has crashed your country?
is it so the "new owners" can buy the oil and country for cents on the dollar?

thats not very stategic or smart

xploder

Originally posted by XPLodER
so america why are you hostage to OPEC?

The western elites oil cartel is the one who holds you hostage. If you dig the oil in america, there'll be an abundant supply of oil. Then how's the cartel going to jack up the price if supply is abundant? Make sense to you?

There's no free market on oil in america. If there was we would have gas at 30c a gallon theres so much here, on top of that alternative energy would be wide open if it was'nt for supression of that kind of technology. It's simple. It's under control of a few that have a monopoly on it. Theres more in Alaska then saudi arabia, that was found in the early 70's.
It's a scam, not just on america but all who think they need it. Simple.

X , I know that it would appear like a supply and demand issue., but you see that IS the Lie. NY controls and always have controlled the supply side. If NY want the price of a barrel of oil to drop from $135 to $58 dollars in a 4 week period NY can do this as well as raise the cost of a barrel of oil from $60 to $100 in a two month period they can do this as well. This is what DID happen in 2008 and is happening now. The price of oil is tied directly the the GNP of many of TPTB friend and foes. It has nothing to do with how much is being pumped out of the ground.
If NY starts to lose control, the United States Military is the hammer.

The Saudies do not make their own independent decisions, the large oil companies make the call on what is pumping out of the ground.

When considering oil supply you must look at the big picture. OIL = Energy Energy = CONTROL

Control is what it is all about.

reply to post by brokedown


i gave you a star
you have pointed out that this is about control
if america "controlled" the oil supply price and amount they could "call" the price they wanted
yes ny is a problem with speculators and derivatives
but the simple answer is supply

the image of scarcity (peak oil) = profit not price
over supply always drops price =always drops price

thanks for you imput it is apreciated

xp

X, the issue is really complicated. The bourse does set the price and not the cost of extracting it. Taking it out of the ground in the ME cost like 4 bucks. The reason things are the way they are from a US perspective has a lot to do with Fiat currency. Oil is used to regulate inflation - Saudi Arabia is oil rich, dollar rich, but a poor country - they can't spend the dollars they take in to keep inflation in check. See John Perkins work on how this happened in the 70's. The bigger picture is about long term control as countries in charge are bought into power then taken down, the plan happens over the course of about 100 years, so it is no well noticed. The ME oil supply is simply part of that long term scheme and has nothing to do with fair prices, global warming and the like. There is enough oil in the control of the US for the US to live on for ages AND sell, but we are not in charge, we are a bankrupt country that must remain desperate enough to enjoy our position as the banker's enforcement agent.

en.wikipedia.org...

apparently most of the petroleum is locked up in 'oil shale' which is much harder to recover than fluid oil.
the product is not worth extruding if oil prices are low (not sure of exact threshhold)

OPEC sets the import price of oil per barrel. That price is then internationally recognized by the stock exchange and the value of oil is adjusted from there.

American and British oil companies are then allowed to charge the exact same amount per barrel, no matter where the oil comes from. And this is where the hurt to your bank account comes in. Our domestic oil companies do not have to charge the same amount as the OPEC nations. But they do because they can and it has made them billions of dollars.

In 1973, the OPEC nations learned that they could use oil as an economic weapon. Because the US had backed Israel during the Yom Kippur war, the OPEC nations placed an oil embargo on the US and reduced physical oil production until 1974.

At the beginning of the oil embargo, OPEC decided to raise the price of oil by 70% to $5.11/barrel. Not a lot by today's standards, but still a pretty hefty increase at the time.

Now fast forward to today. Because President Bush led an invasion of Iraq and Afghanistan, OPEC again raised oil prices. They had been steadily increasing since 1973 but are now at almost $100/barrel. The real reason is the physical production of oil. If they don't pump it and refine it, we can't buy it.

In 1981, Saudi Arabia attempted to take control of the market. They dramatically increased their oil production and sold it to the US for an insanely lower price than the other OPEC nations were offering. They singlehandedly caused a price drop from $80/barrel to $38/barrel. But these days, they are a part of the United Arab Emirates which are a part of OPEC. And they have raked in trillions of dollars since then. Hell, just look at Dubai. That is what your trip to the gas station pays for.

So how do we fix the current situation? Increase domestic production and lower the price. But our domestic oil companies aren't going to do that. We are a very greedy nation and that would be bad for business.