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Friday, November 28, 2014

Oil Slumps 4% As OPEC Leaves Output Unchanged

Oil company giants reap the rewards of Ebola scare, resulting drop in international travel as public slowly becomes aware they have been raped at the pump for over a decade by bogus price rises, artificially inflated oil; worldwide glut will gut industry, destroy oil-dependent economies as citizens utilise other modes of transportation or simply stay home  

RT
11/27/2014

A ‘unilateral decision’ was taken by OPEC not to cut production and to leave the daily output ceiling unchanged at 30 million barrels, despite a major oversupply that has caused oil prices to fall more than 30%.


“We are not sending any signal to anyone, we are just trying to have a fair price,” OPEC Secretary General Abdalla Salem El-Badri told reporters in Vienna on Thursday.

World oil demand is expected to increase in 2015, Salem El-Badri said.

"I've been in this business for a long time. When I was a minister, oil was $15 per barrel. So the current price can be called good," the Secretary said.


Brent Crude plunged on the news, falling more than $3 to below $75 per barrel after the Organization of the Petroleum Exporting Countries decided not to cut production.

Kuwaiti oil minister Ali Saleh al-Omair, said that he was “happy” with the decision not to restrict output.

“I speak on behalf of the ministers, we have no target price, we have a fair price,”El-Badri said.


Outrageous, criminally inflated gas prices drained the bank accounts of all Americans and now there will be hell to pay for it; oil company criminals face losing their private islands, offshore accounts, immunity from prosecution

Oil prices have fallen more than $40 per barrel since mid-June when oil peaked at $115 a barrel. Low prices have been triggered by oversupply created by increased US production and waning demand from China and Europe.

Oil ministers from the 12 members of the Organization of the Petroleum Exporting Countries (OPEC) met in Vienna Thursday. The next OPEC meeting will be held in June 2015.

Who Wins?

The decision to cut production wasn't shared by all. The cut won't negatively affect Gulf producers - Saudi Arabia, Qatar, Kuwait, and the UAE- since they can sustain lower prices, as they have trillions saved up in buffer funds.

Venezuela, Nigeria, Iran, Iraq, and Ecuador were fighting to cut production to boost prices, as their economies lack the financial buffers of the Gulf States to weather low oil prices.

Low oil prices help big importers like China and India because petroleum products become cheaper, but hurt exporting countries because billions in revenue are lost.


Oil prices also affect currencies, such as the Russian ruble, which, in tandem with oil, has lost more than 30 percent since June.


So much for Obama's claim that oil a "national security issue"
Consumers benefit from low oil prices, because it means cheaper petrol in their automobiles. 

Airlines make bigger margin profits as jet fuel is cheaper, and transport companies, such as a courier service or bus company, save money on petrol.


Non-Aligned

Together, OPEC accounts for 40 percent of world oil output. Saudi Arabia is the largest of the 12 exporters with 16 percent of global production. The US which is not a member of OPEC pumps nearly the same amount, and Russia, also not a member, produces 14 percent.

A Russian oil tycoon waned that OPEC's decision was a strike against the American market, which becomes unprofitable at $70-80 per barrel.

“In 2016, when OPEC completes this objective of cleaning up the American marginal market, the oil price will start growing again,” Leonid Fedun, a board member of Lukoil, Russia's largest private oil company, told Bloomberg News.


Filthy rich Saudi "royals" and their obscene displays of wealth will be some of the first to go, toppled by loss of oil revenues and gutting their ability to control and repress their population 

The shale boom has increased US production by 60 percent since 2008, and is on par to soon overpass Saudi output.

“The shale boom is on a par with the dot-com boom. The strong players will remain, the weak ones will vanish," Fedun said.

Earlier this week non-OPEC members Russia and Mexico held meetings with members of the energy cartel, but no agreement to cut production was reached.

“OPEC’s decision means the problem of excess oil on the market will not be solved quickly,” Russia’s Ministry of Finance said.

Other major non-OPEC energy producers are China, Canada, Mexico, Brazil, and Norway.



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ANDREW KREIG: EXPERTS REJECT FIRE AS CAUSE FOR 9/11 WTC COLLAPSES

The real truth on 9/11 slowly continues to bleed out

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Technical experts are mounting major challenges to official U.S. government accounts of how three World Trade Center skyscrapers collapsed in near-freefall after the 9/11 attacks 15 years ago.

Many researchers are focusing especially on the little-known collapse of

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The Geopolitics Of The United States, Part 1: The Inevitable Empire

The Empire and the inevitable fall of the Obama criminal regime

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STRATFOR Editor’s Note: This installment on the United States, presented in two parts, is the 16th in a series of STRATFOR monographs on the geopolitics of countries influential in world affairs.

Like nearly all of the peoples of North and South America, most Americans are not originally from the territory that became the United States.

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Geopolitics Of The United States Part 2: American Identity And The Threats of Tomorrow

A look back at 2011 predictions for the future in order to put events of today into perspective

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We have already discussed in the first part of this analysis how the American geography dooms whoever controls the territory to being a global power, but there are a number of other outcomes that shape what that power will be like. The first and most critical is the impact of that geography on the American mindset.

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By Robert S. Finnegan

This e-mail outlines and confirms the acts of espionage against Indonesia and Indonesians by Akiko Makino and the others involved both in Kobe University and in AI Lab at University of Airlangga, Surabaya; Bahasa Indonesia original follows English translation...

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UPDATED 01/07/2015 : New Analysis Challenges Tamiflu Efficacy; Hong Kong Corona Virus Outbreak

UPDATED 01/07/2015 : FOX NEWS CORPORATE PHARMA SHILL MEGAN KELLY AND FOX NEWS QUACK DOCTOR NOW PUSHING TAMIFLU FOR PREGNANT WOMEN AND CHILDREN;

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THE 5TH ESTATE UNEQUIVOCALLY WARNS THE PUBLIC NOT TO TAKE OR GIVE THIS PROVEN DANGEROUS, INEFFECTIVE DRUG TO ANYONE

Obama criminals now resulting to biowarfare in quest to destroy Chinese and ASEAN economy; "novel virus substrain" points directly to a Kawaoka / Fouchier / Ernala-Ginting Kobe lab virus weaponized and genetically altered to specifically target and infect the Asian population: Ribavirin...

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The 5th Estate has just purchased a library on H5N1 "Novel" virus pandemics, there are dozens of PDF and Exel documents we feel will assist you in saving lives following intentional releases of the H5N1 and now MERS viruses; we will begin by printing those that appear to be extremely relevant here: H5N1 Kobe-Kawaoka-Ernala series continues soon with more "Smoking Gun" e-mails from Teridah Ernala to The 5th Estate . . .

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By Robert S. Finnegan

On October 12, 2002 the Indonesian island of Bali experienced a terrorist attack that rocked the world. It was unquestionably well-coordinated and executed, the largest in the country's history.

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