So what is OPEC doing now, to stop the oil prices freefall?

They are the enemy! If it was up to them, we would have never left the $4.00 per gallon gas prices we saw during the summer. We would probably be at $6.00 per gallon right now. So, what will they do? Today, oil was at lower than $40.00 per barrel for the first time in a lonng time. Is there a way to stop them from hiking the prices up again?So what is OPEC doing now, to stop the oil prices freefall?
Yes there is. By staying smarter than them. As long as we get it through our heads that these huge gas guzzling vehicles we drool over are the ammunition they need to hike prices because they claim we demand so much oil.





We failed to learn anything after the Arab Oil embargo in the 70's. Here's another chance for us to get our heads on straight and see it as it really is. Conservation lowers demand. That should be damn obvious by now, even to stupid people.





As long as we continue to conserve, and get rid of those H U G E obnoxious vehicles so many of you drool over, we have them over their own barrel. It's in our hands, and we won a hand. Let's keep up the good work.So what is OPEC doing now, to stop the oil prices freefall?
OPEC only controls 32% of the worlds oil, and 40% of its member countries are not in the islamic world.





The problem with OPEC making production cuts that has slowed them is only Saudi Arabia can afford as some OPEC members already are down to 50,000 barrels a month, and the bigger problem that OPEC makes cuts members tend to just pump any way defying OPEC.





OPEC only produces 1,380,000 barrels a day already, the United States consumes 19.6 million barrels per day. OPEC has 32% of the reserves but less then 10% of production, and 4 million barrels a month the current cut is only 125,000 barrels a day. This will not even have physiological impact because reserves being explored in non OPEC nations is increasing 11% a year, and the futures market sets oil prices. A 11% increase is 1/3 of OPEC's total reserve just this year, and oil was inflated for so long that these falls have been long in the making.
They plan to cut production, thus pushing the price up.





Actually in this matter we are our own worst enemy. Every president since Reagan (Maybe even before him) has promised to make us energy independent and the proportion of imported oil has just gone up and up.
yes there is. make al the opec nations our allies and declare israel a hostile nation and stop selling weapons to israel and also leave their countries alone and stop trying to overthrow their governments because we don't like their system of government and laws