Another OPEC Member Gets Vocal

[DuctapeFatwa]

The Organization of Petroleum Exporting Countries is now hearing the call for a price-band shift from another member, Nigeria. The country has asked the organization to raise the oil cartel's target for crude prices, because of weakening dollar and for the recovery of the global economy.

The Presidential Adviser on Petroleum, Dr. Edmund Daukoru speaking at an energy conference in Cairo said the current 22-28 dollars per barrel price band targeted by OPEC for its reference basket of crudes should be raised. "We officially say... we need to move the band," he said.

Asked whether he was actually calling for the price band to be raised, he replied: "Yes, yes, because of the weakening dollar.

On whether the recent fluctuations of oil prices between 28 and 35 dollars should be confirmed as the new band, he declined to give figures, but hinted that an average of 30 to 31 dollars per barrel was acceptable. "It (the market) is stable at about 30-31," he said.

http://www.neftegaz.ru/english/lenta/show.php?id=46611

[pfitz59]

1. Ah, the weak dollar......

How long before OPEC demands payment in Euros or gold?

[alittlelark]

3. Wasn't Saddam about to change his oil sales to euros

not long before we blew the shit out of the country?????

[caledesi]

4. Yeah, sanctions were about to be lifted and Iraq was going to

charge in Euros. (that's one theory as to why we went in). We ain't paying in no stinkin' Euros w/ the dollar so low.

[burrowowl]

2. The Draft is the only way out

we gotta invade Venezuela, Nigeria, Iran, Russia ... This is snowballing or oil well blow-out.
The U$ just doesn't have enough population to take on the world. Nooooo!
Please no NUKES!