[Marxism] Oil prices fall to $39/bbl

nada dwaltersMIA at gmail.com
Thu Dec 18 11:34:49 MST 2008


Well, prices are certainly heading south for oil. OPEC's announcement 
obviously having no effect whatsoever. This means that all fossil fuel 
prices will probably be pushed downward. This includes coal and natural 
gas as well. It means that Venezuelan crude is falling down to about 
$34/bbl due to it's inferior quality. It means that people, *especially* 
North Americans, will drive more. While the economic relief this 
provides the average driver is welcome, I think it portends badly for 
the environment and the development of non-carbon based sources of energy.

If OPEC can enforce it's cut in production, this may drive prices 
up..but OPEC is hardly disciplined enough to do this, it's members 
routinely cheat.

David




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