User 5272

Is OPEC the New Fed?

Get serious. Assuming for a minute that your ridiculous notion of de-facto central banker to the world is one that they actually want to pursue (which will never happen), they actually have to have the ability to increase or decrease production according to conditions, just as the Fed can increase or decrease the money supply at will. They've been crying about oil prices being too high since it broke $40 and haven't been able to do a damn thing about it. So that ends your theory right there. Oil at $160 is just shooting themselves in the foot as all of the world's resources will be hell bent on developing alternative energy sources. And besides, no single country has the will or the fortitude to reduce production any more than an addict would refuse drugs if you thrust more and more upon them. The only reduction in production will come about by accident due to natural depletion and forces of nature.

But really, I don't even know why I'm even wasting my time replying. Good luck to you. If this is the sort of thing that you think about, then you'll need all the luck you can get.