Midya's Weblog

OPEC, OPEC, OPEC

http://finance.yahoo.com/news/Oil-rises-above-46-as-OPEC-apf-14163552.html

Someone tell me just why there is not media outcry over the oil cartel OPEC when just months ago there was such fury against GW as oil soared to heights never achieved.  This article is so typical of what has been written about oil fluctuations over the past 30 years.  It is benign; it mentions various economic factors only to mention OPEC conspiring to cut production as if we should sit around waiting their announcement eager to comply with whatever they decide.  More to the point is what is written below.  It reports production cuts as if OPEC were a doctor dressing a wound only giving you the details that are not gory so as to no exacerbate the pain you are feeling.  Come on,  the language of stabilization?  Who doesn’t want stability normally?  Isn’t stable better than unstable?  Yet, whose interests is THIS stabilization?  Hmm.

“The Organization of Petroleum Exporting Countries has announced 4.2 million barrels a day in production cuts since September in an attempt to stabilize oil prices, which have fallen almost 70 percent since peaking at nearly $150 a barrel in July.”

Furthermore, “which have fallen almost 70 percent…”  isn’t this cause for celebration?  But, alas, no, I’m left here with almost irresistible urges to run out and stabilize those prices, because they have fallen.  Wait, run where?  Stabilizewhat?  How?  Where is this nexus of stabilization to which I can apply my stabilizing powers?  Darn, such dissidence.  Thanks, Louise Watt or probably more appropriate, Louise’s boss.

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This entry was posted on January 27, 2009 by in Uncategorized.
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