Fuel price will rise due to OPEC

CEEYA · 06-12-2009, 02:25 PM

Whats your opinion on this??

"OPEC currently supplies around 40 percent of the world’s oil requirements. There are reports coming out of the office of the Kuwaiti Oil Minister that fuel price will experience a hike after OPEC (Organization of the Petroleum Exporting Countries) has reportedly said that it will not boost fuel production until the price of oil has ceilinged at $100 per barrel.

This cautious move by OPEC comes from its understanding that economic recovery does not depend on the rising prices of oil. The current price of oil is $71 per barrel. Crude oil pricing has seen an increase of 60 percent this year following a plunge caused by poor demands during the global economic downturn. The increase in oil prices at present is not due to rising demands, but rather to investors buying crude oil as a protection against the failing US dollar."

http://www.4wheelsnews.com/fuel-pric...e-due-to-opec/

2vettes · 06-12-2009, 02:29 PM

Yeah, so the recovering economy will tank once again because of the escalating price of delivering goods to market. Some just never learn from their greedy mistakes.

Rick Phillips · 06-12-2009, 05:19 PM

Quote:

Originally Posted by 2vettes

Yeah, so the recovering economy will tank once again because of the escalating price of delivering goods to market. Some just never learn from their greedy mistakes.

I 100% agree!

roadrage1 · 06-12-2009, 09:31 PM

23 cent rise here in the last week!

hulksdaddy · 06-13-2009, 05:21 AM

Last two weeks up 35 cents

Ladys Man · 06-13-2009, 05:38 AM

The pumps are going to get very ugly, very quickly.

thechef · 06-13-2009, 08:09 PM

Quote:

Originally Posted by Ladys Man

The pumps are going to get very ugly, very quickly.

Sadly to say the pumps are getting that way, I think we will see $4.00 per gallon by end of summer.

2vettes · 06-14-2009, 05:15 AM

Quote:

Originally Posted by thechef

Sadly to say the pumps are getting that way, I think we will see $4.00 per gallon by end of summer.

Maybe in California, not here. It's likely though, that the price will tank again after summer.

Fatcat · 06-14-2009, 02:02 PM

Shaggy · 06-14-2009, 07:07 PM

06-12-2009, 02:25 PM	#1
CEEYA Smokin 100HP Club Join Date: Nov 2008 Location: Orlando, FL Posts: 150 Smokin' Bucks $1.61 My Gallery	Fuel price will rise due to OPEC Whats your opinion on this?? "OPEC currently supplies around 40 percent of the world’s oil requirements. There are reports coming out of the office of the Kuwaiti Oil Minister that fuel price will experience a hike after OPEC (Organization of the Petroleum Exporting Countries) has reportedly said that it will not boost fuel production until the price of oil has ceilinged at $100 per barrel. This cautious move by OPEC comes from its understanding that economic recovery does not depend on the rising prices of oil. The current price of oil is $71 per barrel. Crude oil pricing has seen an increase of 60 percent this year following a plunge caused by poor demands during the global economic downturn. The increase in oil prices at present is not due to rising demands, but rather to investors buying crude oil as a protection against the failing US dollar." http://www.4wheelsnews.com/fuel-pric...e-due-to-opec/

06-12-2009, 09:31 PM	#4
roadrage1 Smokin 5000HP+ Posting Maniac Join Date: Jun 2008 Location: No Crybabies on SV! Posts: 11,426 Smokin' Bucks $76.19 My Gallery	23 cent rise here in the last week! __________________ 07 Victory Red Z06 550 RWHP DSV- Steering Wheel,Door Panels/Pulls, Center Console,E-Brake handle/Boot, Shifter Boot Pipedreams- Shifterball,Chrome Plenum,Cap kit,Alt Cover www.nakidparts.com TKO- CF Radio Bezel, Gauge Cluster, Door Buttons,Chrome Starter Button,Center console Tunnel www.tkoperformance.com QM600 Cam, AR Headers,Corsa Sport Catback,Killer Bee ECS- Install/Tune Custom Paint- Auto Buffs www.autobuffs.net 19/20 CCW 946's on Michelin Rubber

06-13-2009, 05:21 AM	#5
hulksdaddy Agent Join Date: Jun 2008 Location: Circus Bully Posts: 15,449 Smokin' Bucks $66.50 My Gallery	Last two weeks up 35 cents __________________ "The CIRCUS has taken over....." 2008 Jetstream Blue Z06 Ebony/Red 2LZ - Chrome, Nav. Mods: DSV Shifter Boot, Ebrake Boot, Console Cover, Radio Bezel Stratmosphere Mats Pipedreams Shifter Cap, Alternator Cover, Fuse Box Cover, Brake Booster Cover, Chrome Engine Caps, M2W Atomic Autosports Radiator Shroud, Overflow Tank, Intake RPI Brake Reservoir Cover, Power Steering Cover Hoodliner and FRCs by www.airbrushincorporated.com

06-14-2009, 02:02 PM	#9
Fatcat Smokin 100HP Club Join Date: Mar 2008 Location: Georgia Posts: 198 Smokin' Bucks $2.29 My Gallery	__________________ Corvettes of the past: 1986 C4 Corvette - Sold 1991 C4 Corvette - Sold 1997 C5 Corvette - Sold 2005 C6 Corvette - Sold 2008 C6 Corvette - Will have till the C7 Comes out!

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06-12-2009, 02:29 PM	#2
2vettes Smokin 5000HP+ Posting Maniac Join Date: Jan 2009 Location: Braintree, MA Posts: 15,440 Smokin' Bucks $219.08 My Gallery	Yeah, so the recovering economy will tank once again because of the escalating price of delivering goods to market. Some just never learn from their greedy mistakes.

06-13-2009, 05:38 AM	#6
Ladys Man Smokin 50HP Club Join Date: Dec 2007 Location: South Carolina Posts: 92 Smokin' Bucks $5.22 My Gallery	The pumps are going to get very ugly, very quickly.

06-14-2009, 07:07 PM	#10
Shaggy Smokin 300HP Club Join Date: May 2008 Location: Buffalo, NY Posts: 306 Smokin' Bucks $2.34 My Gallery