Thread: OPEC Cuts Production, Prices Fall Anyway

Originally Posted by Sabrewings

To the towel heads and other oil pirates and exporting countries.

I don't believe that OPEC has cut production...what would be the point? Whether it happened or NOT,this "cut in production" that the media is talking about, I believe to be just a ploy (we are losing money we have to raise the gas prices) by OPEC with the assistance of the media to prepare consumers (US, meaning you and me) for gas price gouging once again.

This whole thing is just beyond rediculous. This year was already marked another record profit year before the fall of the gas prices. Jen heard last night on one of the news shows that if the barrels arent $60-$80ish per barrel then they were losing money???? Now HOW is that supposed to make any sense?!!! Maybe if they had a fixed profit per gallon and NOT a % profit per gallon that goes up when the cost goes up then would be crying over not making as much money since when it cost $150 per barrel there was more to be made off of it because the profit is a % and not just a set price. In my eyes who cares if the prices drop like this? Produce the crap out of it and sell it cheap-the higher volume of sales will keep the income higher than raising the prices and cutting production and then everyone is happy but greed always seems to win and with prices cut well over 60% of what they were mid summer they definately saw the potential for greater profits. Last week I filled up both trucks at $1.27/gallon for 87 octane. Monday it was $1.69/gallon for 87 octane. $.42 in a few days??? is that about- that is a 33% raise in cost!!!!! Today it dropped down to $1.55 pretty much at all stations in town and we even saw $1.46 at a few. Some states have a cap on price hikes and if not followed someone gets a fine slapped on them. There is no reason for any of this but what do you do? Grin and bare it I guess lol. Life goes on hehehe