OPEC Deadlocks Production; Oil Prices Spike

Full story: WFMZ

Oil prices breached the $100-a-barrel mark Wednesday after OPEC said it could not reach an agreement about raising crude production.

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CROCK ROCK

Northampton, PA

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#1
Jun 8, 2011
 
what a bunch of B.S. thank you mr. president for helping us out. ANYBODY BUT OBAMA 2012
whats up

Emmaus, PA

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#2
Jun 8, 2011
 
just away for the rich to get richer.this country is going down the tubes
Bob

Phillipsburg, NJ

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#3
Jun 8, 2011
 
More typical BS. I don't even want to hear it. How stupid do they think we are?
Why

Breinigsville, PA

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#5
Jun 8, 2011
 
Stupid enough to keep buying gas and paying high prices. Obviously. If EVERYBODY would REFUSE to work for a week and not buy any gas, what do you think would happen????? Americans are toooo stupid to do anything about it so why shouldn't the rich get richer and the middle class pays for everything. Low Income has nothing to worry about.. The working Americans are just down right too stupid to do anything about it.
Bob wrote:
More typical BS. I don't even want to hear it. How stupid do they think we are?
Jack T

Wilmington, DE

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#6
Jun 8, 2011
 
Is this why some dumb turd was pumping every last drop he could fit into his car in front of me today? People R stupid, OPEC isn't deadlocked, they're creating market conditions in their favor....shiek needs a new Lambo.
wallace allenown

Catasauqua, PA

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#7
Jun 8, 2011
 
what is there to be stunned about. Our country is allowing itself to be at the mercy of OPEC. Remember JFK> Natl goal to land man on moon in 10 yrs. We did it sooner. New natl goal: COMPLETE independence from OPEC in 5 yrs. It absolutely can be done. We need infrastructure only the technology and fuel sources are there in our country. There still is too much oil in ground and we will continue to be at the mercy of special interests lining peoples pockets. That is the bottom line no disputing it. It will not occur for a long long time until we speal up.
asd

Reading, PA

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#8
Jun 8, 2011
 
true shortage. Sounds Like [1974] Again
Boss Hogg from Ga

Bethlehem, PA

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#9
Jun 8, 2011
 
wallace allenown wrote:
what is there to be stunned about. Our country is allowing itself to be at the mercy of OPEC. Remember JFK> Natl goal to land man on moon in 10 yrs. We did it sooner. New natl goal: COMPLETE independence from OPEC in 5 yrs. It absolutely can be done. We need infrastructure only the technology and fuel sources are there in our country. There still is too much oil in ground and we will continue to be at the mercy of special interests lining peoples pockets. That is the bottom line no disputing it. It will not occur for a long long time until we speal up.
Your absolutely right. We have enough oil here to last for 100's of years. But as long as the oil companies can buy the politicians it will be status quo. Big oil would loose lots of cash if we became independent of foreign oil
Impeach Obama

Springville, CA

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#10
Jun 9, 2011
 
CROCK ROCK wrote:
what a bunch of B.S. thank you mr. president for helping us out. ANYBODY BUT OBAMA 2012
OPEC is angry because NATO stepped over the UN resolution bounds and is bombing Tripoli. Look for $6 a gallon gas by September! Thank you Obama. www.ImpeachObamaCampaign.com
Jay

Slatington, PA

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#11
Jun 9, 2011
 
Boss Hogg from Ga wrote:
<quoted text>Your absolutely right. We have enough oil here to last for 100's of years. But as long as the oil companies can buy the politicians it will be status quo. Big oil would loose lots of cash if we became independent of foreign oil
Do some research..MOST analysts agree there is approximately 28.6 years of reserve at the current consumption rates... If we start pumping out 2 million more barrels a day,what do you think OPEC will do ?? Cut production by 2 million barrels a day !!!! The price we pay is not only dictated by OUR production..... Just like the drilling in the Marcellus shale areas..Huge reserves of natural gas have been found..How much did the price of natural gas drop in Pa.??? Most of it won't even be consumed in this state.. If your scenario was true, everyone in Pa. should have free natural gas....
KeepGitmoOpen

United States

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#12
Jun 9, 2011
 
Get rid of Obamanomics and Bernanke. Bush's mistake for appointing this dickwad and Obamas for keeping him. The weak dollar is killing us in every aspect in life. Printing more money and cutting rates will never work.
Jay

Slatington, PA

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#13
Jun 9, 2011
 
Boss Hogg from Ga wrote:
<quoted text>Your absolutely right. We have enough oil here to last for 100's of years. But as long as the oil companies can buy the politicians it will be status quo. Big oil would loose lots of cash if we became independent of foreign oil
I also forgot to add as an afterthought. If the oil companies are making billions of dollars of profit and want to help develop something,how about some NEW high efficiency refineries ??? The current ones are DECADES old relics !!!! Higher efficiency and faster turnover of the product(gasoline) means cheaper product... JMO...

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