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October 23rd, 2006, 12:28
| #1 |
| Old Skool  Join Date: Jan 2006 Location: KMKE
Posts: 1,924
 |  Fuel/oil prices It's been a while since I was in economics class...I don't get it... While OPEC wants to cut production in attempt to slow the drop in oil prices, the media is talking about whether certain OPEC countries could handle a drop in price below $60. Ummm, wasn't a barrel of oil <$30 six years ago?? What do they mean they can't fiscally handle it?
__________________ British Airways flight asks for push back clearance from terminal. Control Tower replies: "And where is the world's most experienced airline going today without filing a flight plan?" |
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October 23rd, 2006, 13:40
| #2 |
| Senior Member  Join Date: Jun 2006
Posts: 1,122
| Re: Fuel/oil prices Some countries, like Venezuela, have vastly increased government spending when they nationalized their oil industry and when oil prices increased. There is a level where they need to keep oil prices to support this spending and it is more than $30, I think. |
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