"Indonesia to withdraw from OPEC"
ABC 28/5/2008
"Indonesia has formally announced it will pull
out of the Organisation of Petroleum Ex****ting
Countries (OPEC) from the beginning of next year.
While the discovery of new large oil reserves has
diminished the influence of OPEC in recent years,
the 13 oil producing nations which make up the
organisation still account for two-thirds of the
world's oil reserves.
As of next year however, Indonesia will no longer
be a member of OPEC, the nation's Energy Minister
Purmono Yusgiantoro says.
"I will sign that we withdraw from OPEC," he said.
Indonesia now im****ts more oil than it ex****ts and
so has little interest in high oil prices being maintained.
Last week a cut to fuel subsidies in Indonesia
increased the price of gasoline by a third."
Smart. Send the right price signals to encourage
fuel efficiency and alternatives!
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"Iraq War and the price of petrol" - ABC 23/5/2008
"Prime Minister Kevin Rudd said that not invading
Iraq would have helped keep petrol prices down
-- 'It's a factor in the global supply of oil.'"
Of course it is, Iraq has the second largest reserves of oil
in the world. Even if demand were not rising, which it is,
ANY disruption to supply will cause prices to go up.
As we have all seen at the petrol pump.
"There is no question that disruption in any im****tant
country in the oil universe is going to have some
effect on prices, there is absolutely no doubt about that."
- Vijay Vaitheeswaran, Energy correspondent for
the Economist Magazine and author of
"Zoom: The Global Race to Fuel the Car of the Future"
"Iraq oil output hits a new high
- BBC 26/6/2006,
"Production has risen to 2.5 million barrels per day (bpd)
from a steady 2 million bpd during the US-led invasion,
Iraq's new oil minister said.
"Before the war, output was around 3 million bpd,
peaking at a record of 3.5 million bpd"
So, for four years following Howard and Bush's invasion
based on falsehoods about WMDs, Iraqi oil production was
reduced to FIFTY SEVEN PERCENT of it's pre-invasion peak! 8^o
And now it has only inched upward to 71% of it's pre-invasion peak
"Iraq is a mid-level producer, it's not Saudi Arabia,
for example, which is a king pin of oil, or Russia, those
countries produce 9-10 million barrels of oil a day,
the Iraqi output is maybe 20-30% of that, it's more on par
with a country like Venezuela, but undoubtedly a disruption
of the kind which comes from an invasion would of course,
send prices higher"
You can thank Howard and the Lieberals for those higher petrol
prices every time you fill up, and then don't forget the GST
they put ON TOP of the excise, ON TOP of the Iraq War Petrol
Price Surcharge!!!!!
The Great GST Tax SWINDLE
http://www.geocities.com/wmds_r_us/tory_tax_swindle.htm
All courtesy of the most DISASTROUS economic mis-managers
in post war Australian government.. the Lieberal party.
ABC: "So can our Prime Minister get away with saying that
if we didn't go into Iraq, petrol prices would be cheaper?"
"I think that without this kind of Iraq invasion, this
outcome would not have happened."
"In this case, it's not just Iraq, if there were to be hostile
actions by the US against Iran, something President Cheney has
hinted at, you can bet the prices would go even higher.
It's a question of the global supply balance, that's the reason
why an action like this became so problematic"
---------
The Official [Est. June 2000] aus.culture.true-blue FAQ ;
http://geocities.com/fairdinkum_trueblue/faq.html
The true-blue Homestead;
http://geocities.com/fairdinkum_trueblue/
The true-blue Hall Of Fame;
http://www.geocities.com/trueblue_hall_of_fame/index.html
The Tuckerbox;
http://www.geocities.com/true_blue_tucker_box/index.html
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