Cost of OPEC to produce a barrel of oil...
 

$4, Then they sell it on the open market for $70!?!

Talk about a scam....

Re: Cost of OPEC to produce a barrel of oil...
 

Capitalism rocks. Good for them.

Re: Cost of OPEC to produce a barrel of oil...
 

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Capitalism rocks. Good for them.

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Monopolies rock...

Re: Cost of OPEC to produce a barrel of oil...
 

I seriously doubt it only costs them $4 to produce a barrel.

However, I also even MORE seriously doubt $70 is an even remotely fair price. [img]/images/graemlins/smile.gif[/img]

Re: Cost of OPEC to produce a barrel of oil...
 

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$4, Then they sell it on the open market for $70!?!


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This is pretty much nothing compared to a lot of products.

Stuff like perfume and lipstick costs like 5 cents to make.

Re: Cost of OPEC to produce a barrel of oil...
 

A lot of the oil on the world market has a considerable lower production cost (about 50c pr barrel) while some is at above $10 per barrel.

Re: Cost of OPEC to produce a barrel of oil...
 

yeah this whole world free market economy is total [censored] the USA over. were seriously hemorraging cash here.


maybe if we didnt use oil in such a wasteful fashion...

Re: Cost of OPEC to produce a barrel of oil...
 

[ QUOTE ]
[ QUOTE ]
$4, Then they sell it on the open market for $70!?!


[/ QUOTE ]

This is pretty much nothing compared to a lot of products.

Stuff like perfume and lipstick costs like 5 cents to make.

[/ QUOTE ]

At least with those you can pretend you are paying someone extra to design it for you.

Re: Cost of OPEC to produce a barrel of oil...
 

[ QUOTE ]
However, I also even MORE seriously doubt $70 is an even remotely fair price. [img]/images/graemlins/smile.gif[/img]

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if someone pays it, it's fair.

Re: Cost of OPEC to produce a barrel of oil...
 

[ QUOTE ]
[ QUOTE ]
However, I also even MORE seriously doubt $70 is an even remotely fair price. [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

if someone pays it, it's fair.

[/ QUOTE ]

In fact I would maintain that we are ripping OPEC off. If there are gas shortages in certain areas that means that demand is outpacing supply and prices should be raised.