OPEC approves HUGE cut in oil production

Money is what they're after not stabilization. They didn't try to stabilize the market when the prize was high. Are there any countries in OPEC that have our best interest at heart?

Well, when you look at it from their point of view, stabilizing the market means stopping the prices from falling further and boosting them back to where they think the prices should be so... of course they're stabilizing the market - in their favor.

This is not a new thing they've been doing this for years. Some might say they've got us 'bent over the barrel...' budum..tsss :D

Of course, they're just doing it to "stabilize the market"; also, have I told you about the wonderful land I have for sale in the Everglades? How much do you want to bet it won't take nearly as long for it to go back UP as it took for it to finally go down? Annie

Perhaps it is time the government steps in and forces the big 3 to go section `11 and reconstruct the car industry. Can the current cars be made electronic? Can the American people choose to invest a little to make theirs eco friendly? If we get screwed from opec it is because we do not speak loud enough and do something about it. We can only be screwed if we allow it. Start your research now people see what you can do to screw them. Write Write Write let your voices be heard. I would suggest that all the mechanics get together and learn how to change existing cars over .. now wouldnt that be a boost in the economy? Dont try to make a million overnight make enough to live and then many more people can actually survive. Just thoughts

They are doing it to jack up the prize a bit. It happens all the time that is why the word "hoarding" is phrased. Someone should find a new source of energy so we there are a lot of alternatives to oil.

Well, let's hope that it is not because they are really thinking this will help stabalize the Economy, instead of padding their pockets? I think it is just another ploy Bush has to make sure that he and Cheney recover some of the $$ they have had to pay out to help the Banks, etc. without really thinking about how Bad the Economy is and such as well. Personally, until someone puts a little more stipulation on what can happen with the Oil prices, OPEC, etc. we will continue to see things like this and feel the pinch some more as well. When you Stop and look at how any Gas Station can charge whatever they want for gas these days, in reality, there is really No stopping of anything OPEC might decide to do as well.

OPEC is manipulating oil prices. They let the oil prices down to cut of the legs of the Drill here Drill now movement here in the USA. Now Obama is President they have nothing to worry about us drilling for our own oil so it is time to raise the price of crude oil. Obama has said that he has no problem with gas being at four dollar a gallon, and his energy secretary has said that American gas prices should be at the same level as Europe. So OPEC has played America for a fool, they got the candidate they wanted for President and now they can reap the profits.