F OPEC

The last couple months have been unprecedented in my young life. The global markets have taken up BASE jumping, Wall Street has been downgraded to a Lane and Washington is now telling everyone to "grab an umbrella" because the Fed has a "handful of stacks" and is "making it rain" on Wall Lane, the world and Americans alike.

Things do not look good. But, there are a few small benefits. For one, OIL found out that people can take the bus. Not good for Daniel-Day Lewis, he is pissed. So are these guys.



OPEC is definitely not happy with the drop in global demand for oil. They convened today for an emergency meeting. There plan is to cut production.

"The decision was straightforward," Saudi Oil Minister Ali al-Naimi said after the meeting.

"OPEC will do whatever is necessary to balance oil markets."

This is what they said. They need to balance the oil market. I have to admit, they did a great job of balancing the markets over the past year, when it came close to $150 a barrel in the middle of the 2008 summer. I am really glad they were looking out everyone. But now they want to manipulate the price to have it go back up. This is a real dick move. Lower oil/gas prices help consumer purchasing power, which is an essential correction for a recession. OPEC does not care about a global recession. This is what is wrong.

The fact is OPEC is a cartel, that acts like a cartel. There really is no surprise there.

Just as the lower price of oil is a silver lining to the current economic clusterfuck, (I think we have moved past "crisis" at this point) the former high oil/gas prices did make Americans and the rest of the world finally wake up and realize that we need to stop filling our snowmobiles with jet-fuel in July. It also finally displayed the importance of alternative energies...both candidates are behind it now.

Hopefully this guy learned his lesson from prices in July.

Balance is the name of the game. Balance in the economy, among compaines, among countries and individuals. Not too little, but not too much. I believe that Americans may have learned a valuable lesson from the last few months, not to be so greedy. We need to pass this along to OPEC.