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The Max Pumping is to appease their own people..

One of the largest issues with why the OPEC cartel is pumping at max was touched on by Jack-Booted Eula - Maximum profit for now... For Example, The Saudi gavernment is not favord by much of their population and would love to overthrow the government - however it is the money coming in by the selling of as much oil as tehy can that they , in effect, buy off the population for the timebeing. If the population did not recieve their oil money tehy might just decide that the government was hoarding for themselves and take up arms against the rullers... that Mid-East area has never really had any long term national governmets (unless the rulers were ruthless and held power with an iron grip), they used to be under a 'local chief' type of ruler, similar to what Iraq broke into right after the war and are trying to (politically) fight their way out of while insurgents (physically) fight for a break up of the National idea.
So the Idea that they might 'hold out' oil for another 10-20 years to get $300/barrrel for it, while it makes for a good long term concept for a Westerner is not a concept that that area can really afford to try. - oh, that and they might just be invaded by another nation for thier reserves as voska suggests (except that I believe the Nation to fear for that little task might actually be China - they are developing at a time teh resources are diminishing, they have a very large army and what would we be able to do to them if they decided to walk on over and help themselves to a country or two? they would control the oil - we would have a (something like) 35 day reserve of oil + whatever imports we would get from other countries... something like that might just be a confrontation that would incorporate the Nuclear power option - and I do not mean power plants...

Posted by: evfain@...   Posted on: 09/08/05 You are currently: a Guest | Members login | Terms of Use

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