result #104755 - LUNDBERG: GAS PRICES TO STOP DECLINING. OPEC TO LOWER PRODUCTION

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political : LUNDBERG: GAS PRICES TO STOP DECLINING. OPEC TO LOWER PRODUCTION

[+] serious ballot by cranky
ACTIVE Nov 06,2006 - Sat Aug 01, 09

Associated Press

CAMARILLO, Calif. - Don't look for prices at the pump to get much cheaper in coming weeks.

After four months of declining gas prices, the cost of fuel is beginning to stabilize across the nation, industry analyst Trilby Lundberg said Sunday. Since Aug. 11, when gas prices peaked at $3.03 a gallon nationwide, there has been a steady decline that has reached almost a dollar, she said.

The report comes as crude oil prices slipped further today, despite a statement today by OPEC President Edmund Daukoru that the oil cartel may need to cut production further this year.

OPEC already has announced plans to cut its output by 1.2 million barrels a day, but, Daukoru said, "When we meet in December we will take it a view on it but it looks as if some further mopping up will be necessary. The market is clearly oversupplied, clearly oversupplied."

* * * * * * * *

Are you shocked that now that the election is nearly over, that oil prices will stablize and probably start to climbs and that OPEC will cut production?

No, no more than I am that there is death & taxes	4
Yes, I'm absolutely shocked. What a coincidence!	3

Ballot #104755: has 7 total votes.
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COMMENTS:
Well! I am shocked, I tell you. Shocked! You could knock me over with a voting machine paper trail ... if such a thing even existed.

by Cathexis on Mon Nov 06, 06 8:39am [+]

OPEC announced cutting production over two weeks ago.

And I'm still wondering if the rest of the world gets to vote in our elections too because it's not just the U.S. production that's about to go up...

Us damn shortsighted Americans. Always thinking of nobody but ourselves...

by Grumpy_Person on Mon Nov 06, 06 9:38am [+]

Correction: *production that's about to go down

by Grumpy_Person on Mon Nov 06, 06 9:39am [+]

Voted : No, no more than I am that there is death & taxes
Oh, my...

by Truthseeker013 on Mon Nov 06, 06 11:47am [+]

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