1st opec cinference resolution
Members can no longer remain indifferent to the attitude heretofore adopted by the oil companies in effecting price modification"
Yep,OPEC was formed because ,incredibly,that they thought oil companies were fixing prices. Note the term ,oil companies. Sound like free market capitalism to anybody.
Good to see tomndebb’s warning hasn’t affected your posting style gonzo. I think you’re helping your opponents more than you’re helping yourself.
It was a fixed price back in the 60s. The oil companies had an agreement of sorts with the producing countries and a posted prices was an agreed on that oil would be sold at. This price would not change too regularly (by todays standards)
OPEC formed with the intent of having a greater say in what the posted price would be and collective bargining of royalties.
I don’t think any one was pretending it was a free market approach back then in terms of crude prices. As for the market for refined product I am not sure.
The spot market and the pricing as we know today only really started developing in the 80s.
I strongly suggest reading The Prize by yergin to get some more information on the historical relationship between the countries and the companies.
Also take a look at the Wikipedia page on oil markets. Chronology of world oil market events - Wikipedia
In short - what does the 60s oil pricing mechanisms have to do with the supposed price fixing to manipulate the elections today?
cheers
Say, have you all noticed how the price of gas has been creeping back up ever since the election?
We have bills to pay, don’t we? Of course we have.
Accoring to the Energy Information Agency (http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_history.html), the average gas price the week of November 6 was 2.189. Now, it’s 2.296.
Imagine that. Winter in North America and energy prices are going up. I, for one, am aghast. Conspiracy, I tells ya!
Considering that the price of light sweet crude plummeted to under $59 and that North America is having the warmest winter in years, I am not sure what conclusion to draw here.
Since gas prices have gone up by less than nine cents since election day, I don’t even think there is much to discuss here.
A 4% rise! Oh, the gouging!
Until we got blasted with the worst blizzard in the states history last week the gas prices were pretty stable here. They are starting to go up now though. I think the conspiricy guys were right! Its all part of Bush and the Republicans plan! The blizzard was their fault too no doubt…
-XT
Crap, I just got back from the San Francisco Bay Area where regular gas was about $2.60. It drifts slightly higher as you leave the bay area and then WHAM, there is a corner with 4 stations in Goleta where 3 of the stations had premium self serve for over $3.00 a gallon. The Vons affilliated station had regular at the bargain basement price of $2.73, a full 20 cents less than the other stations.
I guess that’s what we get for kick starting the environmental movement and voting against increasing offshore oil drilling. Time to buy that sweet new bike I got my eye on.
http://www.alternet.org/blogs/peek/#46325 These guys just dont get it. Oil companies are our friends and are interested in serving us and keeping the environment clean. Profits are way down on their list. Got a bay in Alaska I can sell you.
So? Gas prices peaked in August of 2003, plummeted by the end of the year, only to show another rise. Same pattern as you describe gonzomax, but not an election year.
In 2004, gas prices rose from $1.889 in September to $2.045 the week of the election. Oops!
Using your cite’s cite.
30 cents here
About ten cents here. So what? According to your theory that corporations are manipulating prices to help the GOP, why would a heavily Democratic state such as Maryland have gas prices go up only about ten cents while a moderately Democratic state such as Michigan have them go up by thirty cents?
Elections over? Michigan is not heavily Democratic.
http://www.rawstory.com/news/2007/Paper__Blood_and_oil__0107.html The plot thickens.
So the link as far can tell talks about the proposed Iraqi petroleum laws, which no doubt are a bad deal for the people of Iraq. How does this thicken the plot on the price collusion issue?